Assenagon Asset Management S.A. Lowers Stock Position in Docusign Inc. $DOCU

Assenagon Asset Management S.A. cut its stake in shares of Docusign Inc. (NASDAQ:DOCU) by 85.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 100,441 shares of the company’s stock after selling 573,606 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Docusign were worth $4,762,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of DOCU. NewEdge Advisors LLC raised its position in Docusign by 36.4% during the first quarter. NewEdge Advisors LLC now owns 9,202 shares of the company’s stock valued at $749,000 after purchasing an additional 2,457 shares in the last quarter. Guggenheim Capital LLC lifted its stake in Docusign by 6.7% during the second quarter. Guggenheim Capital LLC now owns 11,543 shares of the company’s stock worth $899,000 after purchasing an additional 729 shares during the last quarter. State Street Corp boosted its holdings in shares of Docusign by 3.0% in the 2nd quarter. State Street Corp now owns 8,074,976 shares of the company’s stock worth $628,960,000 after purchasing an additional 236,494 shares in the last quarter. Sei Investments Co. boosted its holdings in shares of Docusign by 60.7% in the 2nd quarter. Sei Investments Co. now owns 40,386 shares of the company’s stock worth $3,146,000 after purchasing an additional 15,247 shares in the last quarter. Finally, Treasurer of the State of North Carolina increased its position in shares of Docusign by 51.0% during the 2nd quarter. Treasurer of the State of North Carolina now owns 189,178 shares of the company’s stock valued at $14,735,000 after purchasing an additional 63,911 shares during the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Docusign Price Performance

Shares of DOCU stock opened at $45.04 on Tuesday. The business has a 50-day moving average of $46.99 and a 200 day moving average of $51.45. Docusign Inc. has a 1-year low of $40.16 and a 1-year high of $86.65. The stock has a market capitalization of $8.60 billion, a PE ratio of 29.25, a P/E/G ratio of 1.37 and a beta of 0.92.

Docusign (NASDAQ:DOCU) last announced its quarterly earnings results on Thursday, June 4th. The company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.10. Docusign had a return on equity of 17.48% and a net margin of 9.59%.The business had revenue of $830.24 million for the quarter, compared to analysts’ expectations of $824.71 million. During the same period in the previous year, the firm earned $0.90 EPS. The business’s quarterly revenue was up 8.7% on a year-over-year basis. Analysts anticipate that Docusign Inc. will post 1.97 EPS for the current year.

Docusign announced that its board has authorized a share buyback program on Tuesday, March 17th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the company to purchase up to 21% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

A number of equities analysts recently weighed in on DOCU shares. Weiss Ratings cut Docusign from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday. Morgan Stanley cut their target price on Docusign from $90.00 to $69.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 18th. Piper Sandler reduced their price target on shares of Docusign from $75.00 to $52.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 18th. Bank of America began coverage on shares of Docusign in a research note on Tuesday, March 31st. They set an “underperform” rating and a $52.00 price target on the stock. Finally, BTIG Research cut their price objective on shares of Docusign from $70.00 to $60.00 and set a “buy” rating for the company in a research note on Friday, June 5th. Three equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $60.27.

Insider Transactions at Docusign

In other Docusign news, CRO Paula Hansen sold 6,000 shares of the stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $46.84, for a total transaction of $281,040.00. Following the completion of the sale, the executive owned 79,233 shares of the company’s stock, valued at $3,711,273.72. This represents a 7.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robert Chatwani sold 15,902 shares of the firm’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $43.01, for a total transaction of $683,945.02. Following the completion of the sale, the insider directly owned 72,805 shares in the company, valued at approximately $3,131,343.05. This trade represents a 17.93% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 64,695 shares of company stock valued at $3,006,682. 0.59% of the stock is currently owned by insiders.

Docusign Company Profile

DocuSign, Inc (NASDAQ: DOCU) is a leading provider of electronic signature and digital transaction management solutions. The company’s flagship offering, DocuSign eSignature, enables organizations to send, sign and manage legally binding electronic agreements securely in the cloud. Beyond eSignature, DocuSign’s Agreement Cloud combines contract lifecycle management, document generation, and workflow automation to streamline agreement processes from initiation through execution and storage.

DocuSign’s platform serves a diverse customer base spanning industries such as finance, real estate, healthcare, technology, and government.