Bank Julius Baer & Co. Ltd Zurich Sells 27,740 Shares of Docusign Inc. $DOCU

Bank Julius Baer & Co. Ltd Zurich lessened its position in Docusign Inc. (NASDAQ:DOCU) by 98.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 450 shares of the company’s stock after selling 27,740 shares during the period. Bank Julius Baer & Co. Ltd Zurich’s holdings in Docusign were worth $31,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Rakuten Investment Management Inc. bought a new position in Docusign in the third quarter valued at about $5,335,000. Bank of New York Mellon Corp lifted its holdings in Docusign by 3.1% in the third quarter. Bank of New York Mellon Corp now owns 1,594,884 shares of the company’s stock valued at $114,975,000 after acquiring an additional 47,331 shares during the period. Retirement Systems of Alabama lifted its holdings in Docusign by 11.1% in the third quarter. Retirement Systems of Alabama now owns 519,106 shares of the company’s stock valued at $37,422,000 after acquiring an additional 51,922 shares during the period. Federated Hermes Inc. lifted its holdings in Docusign by 101.0% in the third quarter. Federated Hermes Inc. now owns 230,524 shares of the company’s stock valued at $16,618,000 after acquiring an additional 115,829 shares during the period. Finally, Nordea Investment Management AB lifted its holdings in Docusign by 3.8% in the fourth quarter. Nordea Investment Management AB now owns 1,198,634 shares of the company’s stock valued at $82,502,000 after acquiring an additional 43,810 shares during the period. Institutional investors own 77.64% of the company’s stock.

Docusign Stock Performance

NASDAQ:DOCU opened at $47.71 on Monday. Docusign Inc. has a 12-month low of $40.16 and a 12-month high of $94.67. The stock has a 50-day moving average price of $46.89 and a 200 day moving average price of $56.11. The stock has a market capitalization of $9.27 billion, a P/E ratio of 32.24, a P/E/G ratio of 1.82 and a beta of 0.88.

Docusign (NASDAQ:DOCU) last released its quarterly earnings results on Tuesday, March 17th. The company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.06. The business had revenue of $836.86 million during the quarter, compared to analysts’ expectations of $828.23 million. Docusign had a return on equity of 16.86% and a net margin of 9.60%.The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.86 EPS. On average, research analysts predict that Docusign Inc. will post 1.76 earnings per share for the current fiscal year.

Docusign announced that its Board of Directors has authorized a share buyback plan 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 shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

A number of research firms have weighed in on DOCU. Royal Bank Of Canada lowered their target price on Docusign from $70.00 to $55.00 and set a “sector perform” rating on the stock in a report on Wednesday, March 18th. Robert W. Baird lowered their target price on Docusign from $75.00 to $55.00 and set a “neutral” rating on the stock in a report on Wednesday, March 18th. Weiss Ratings downgraded Docusign from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, April 15th. JPMorgan Chase & Co. decreased their price objective on Docusign from $78.00 to $65.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 18th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $70.00 price objective on shares of Docusign in a research note on Wednesday, March 18th. Three 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 stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $61.40.

Insider Transactions at Docusign

In related news, CRO Paula Hansen sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $46.84, for a total transaction of $281,040.00. Following the completion of the sale, the executive directly owned 79,233 shares of the company’s stock, valued at approximately $3,711,273.72. This trade represents a 7.04% decrease in their position. The sale 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, Director Mary Agnes Wilderotter sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $48.15, for a total value of $144,450.00. Following the sale, the director directly owned 59,803 shares of the company’s stock, valued at $2,879,514.45. This represents a 4.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 64,673 shares of company stock worth $3,077,699. 0.59% of the stock is currently owned by corporate insiders.

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.