Pictet Asset Management Holding SA Lowers Stock Holdings in Docusign Inc. $DOCU

Pictet Asset Management Holding SA reduced its holdings in Docusign Inc. (NASDAQ:DOCU) by 69.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 34,127 shares of the company’s stock after selling 76,674 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Docusign were worth $1,618,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. NewEdge Advisors LLC boosted its holdings in shares of Docusign by 36.4% in the 1st 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 during the last quarter. Guggenheim Capital LLC lifted its stake in shares of Docusign by 6.7% in the 2nd quarter. Guggenheim Capital LLC now owns 11,543 shares of the company’s stock valued at $899,000 after purchasing an additional 729 shares in the last quarter. State Street Corp lifted its stake 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 valued at $628,960,000 after purchasing an additional 236,494 shares in the last quarter. Sei Investments Co. grew its holdings in shares of Docusign by 60.7% during 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 during the period. Finally, Treasurer of the State of North Carolina increased its position in 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 worth $14,735,000 after purchasing an additional 63,911 shares in the last quarter. 77.64% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Wells Fargo & Company cut their target price on shares of Docusign from $60.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Friday, June 5th. UBS Group set a $60.00 price target on Docusign in a report on Friday, June 5th. Bank of America began coverage on Docusign in a research report on Tuesday, March 31st. They issued an “underperform” rating and a $52.00 price objective on the stock. Robert W. Baird decreased their target price on Docusign from $75.00 to $55.00 and set a “neutral” rating for the company in a research report on Wednesday, March 18th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Docusign in a research report on Friday, June 5th. Three analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have assigned 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 target price of $60.27.

Docusign Price Performance

DOCU opened at $45.77 on Monday. The company’s 50-day moving average price is $46.86 and its 200 day moving average price is $50.77. Docusign Inc. has a fifty-two week low of $40.16 and a fifty-two week high of $86.65. The firm has a market cap of $8.74 billion, a price-to-earnings ratio of 29.72, a price-to-earnings-growth ratio of 1.35 and a beta of 0.90.

Docusign (NASDAQ:DOCU) last posted its earnings results on Thursday, June 4th. The company reported $1.09 EPS for the quarter, beating the consensus estimate of $0.99 by $0.10. The company had revenue of $830.24 million during the quarter, compared to analyst estimates of $824.71 million. Docusign had a return on equity of 17.48% and a net margin of 9.59%.The business’s revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.90 earnings per share. Research analysts anticipate that Docusign Inc. will post 2.03 earnings per share for the current year.

Docusign declared that its Board of Directors has approved a share repurchase plan on Tuesday, March 17th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 21% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Insider Transactions at Docusign

In other news, insider Robert Chatwani sold 15,902 shares of the company’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $43.01, for a total transaction of $683,945.02. Following the completion of the transaction, the insider owned 72,805 shares in the company, valued at approximately $3,131,343.05. This represents a 17.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Allan C. Thygesen sold 26,250 shares of the company’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $46.02, for a total transaction of $1,208,025.00. Following the transaction, the chief executive officer owned 159,038 shares of the company’s stock, valued at $7,318,928.76. This represents a 14.17% 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. Insiders sold 76,695 shares of company stock valued at $3,476,002 over the last three months. 0.59% of the stock is currently owned by company insiders.

About Docusign

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.