Hsbc Holdings PLC Sells 151,200 Shares of Docusign Inc. $DOCU

Hsbc Holdings PLC lessened its position in Docusign Inc. (NASDAQ:DOCU) by 24.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 455,856 shares of the company’s stock after selling 151,200 shares during the period. Hsbc Holdings PLC’s holdings in Docusign were worth $31,198,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of DOCU. Norges Bank acquired a new stake in Docusign during the 4th quarter worth approximately $186,795,000. Capital World Investors lifted its holdings in shares of Docusign by 38.1% during the fourth quarter. Capital World Investors now owns 5,815,804 shares of the company’s stock worth $397,801,000 after purchasing an additional 1,603,900 shares during the period. Woodline Partners LP grew its stake in shares of Docusign by 24,412.7% in the third quarter. Woodline Partners LP now owns 958,938 shares of the company’s stock worth $69,130,000 after purchasing an additional 955,026 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Docusign by 46.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,001,132 shares of the company’s stock valued at $205,277,000 after purchasing an additional 946,512 shares during the period. Finally, Marshall Wace LLP raised its position in Docusign by 1,575.5% during the 4th quarter. Marshall Wace LLP now owns 888,411 shares of the company’s stock worth $60,767,000 after purchasing an additional 835,388 shares during the last quarter. 77.64% of the stock is currently owned by institutional investors.

Docusign Stock Performance

Docusign stock opened at $46.90 on Tuesday. The stock has a market capitalization of $8.96 billion, a price-to-earnings ratio of 30.45, a PEG ratio of 1.35 and a beta of 0.90. Docusign Inc. has a 52-week low of $40.16 and a 52-week high of $86.65. The stock’s 50 day moving average price is $46.89 and its two-hundred day moving average price is $50.63.

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

Docusign declared that its Board of Directors has initiated a stock repurchase program on Tuesday, March 17th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 21% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other Docusign news, CRO Paula Hansen sold 6,000 shares of Docusign stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $45.54, for a total value of $273,240.00. Following the completion of the sale, the executive directly owned 89,972 shares of the company’s stock, valued at approximately $4,097,324.88. The trade was a 6.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider James P. Shaughnessy sold 12,000 shares of the company’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $45.54, for a total transaction of $546,480.00. Following the transaction, the insider owned 52,815 shares in the company, valued at $2,405,195.10. This represents a 18.51% 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 sold 76,695 shares of company stock valued at $3,476,002. 0.59% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

DOCU has been the subject of several recent research reports. Citizens Jmp decreased their price target on Docusign from $124.00 to $86.00 and set a “market outperform” rating for the company in a research note on Wednesday, March 18th. Needham & Company LLC reiterated a “hold” rating on shares of Docusign in a report on Friday, June 5th. Wells Fargo & Company decreased their target price on shares of Docusign from $60.00 to $55.00 and set an “equal weight” rating for the company in a research report on Friday, June 5th. Citigroup boosted their price target on shares of Docusign from $50.00 to $54.00 and gave the stock a “neutral” rating in a research report on Friday, June 5th. Finally, Jefferies Financial Group upped their price objective on shares of Docusign from $45.00 to $50.00 and gave the company a “hold” rating in a research note on Friday, June 5th. Three 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. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $60.27.

Docusign 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.