Fideuram Asset Management Ireland dac Acquires Shares of 10,557 Docusign Inc. $DOCU

Fideuram Asset Management Ireland dac acquired a new stake in shares of Docusign Inc. (NASDAQ:DOCU) during the fourth quarter, HoldingsChannel.com reports. The firm acquired 10,557 shares of the company’s stock, valued at approximately $722,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Central Pacific Bank Trust Division purchased a new stake in Docusign during the fourth quarter valued at approximately $25,000. Torren Management LLC purchased a new stake in Docusign during the fourth quarter valued at approximately $28,000. Aventura Private Wealth LLC purchased a new stake in Docusign during the fourth quarter valued at approximately $30,000. True Wealth Design LLC raised its position in Docusign by 105.2% during the fourth quarter. True Wealth Design LLC now owns 433 shares of the company’s stock valued at $30,000 after purchasing an additional 222 shares during the period. Finally, Cary Street Partners Investment Advisory LLC raised its position in Docusign by 309.5% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 561 shares of the company’s stock valued at $38,000 after purchasing an additional 424 shares during the period. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

Docusign Stock Up 5.9%

Shares of NASDAQ:DOCU opened at $52.52 on Friday. Docusign Inc. has a 52-week low of $40.16 and a 52-week high of $94.67. The stock has a market cap of $10.20 billion, a P/E ratio of 35.49, a price-to-earnings-growth ratio of 2.00 and a beta of 0.88. The business’s 50 day moving average is $47.23 and its 200 day moving average is $54.72.

Docusign (NASDAQ:DOCU) last announced its quarterly earnings data on Tuesday, March 17th. The company reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.06. Docusign had a return on equity of 16.86% and a net margin of 9.60%.The company had revenue of $836.86 million for the quarter, compared to analysts’ expectations of $828.23 million. During the same quarter in the prior year, the firm earned $0.86 earnings per share. Docusign’s revenue was up 7.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Docusign Inc. will post 1.75 EPS for the current fiscal year.

Docusign announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, March 17th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 21% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Robert W. Baird decreased their price objective on Docusign from $75.00 to $55.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 18th. Wells Fargo & Company reduced their price target on Docusign from $75.00 to $60.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 18th. Jefferies Financial Group downgraded Docusign from a “buy” rating to a “hold” rating and reduced their price target for the stock from $105.00 to $45.00 in a report on Monday, February 23rd. Citizens Jmp reduced their price target on Docusign from $124.00 to $86.00 and set a “market outperform” rating on the stock in a report on Wednesday, March 18th. Finally, UBS Group reduced their price target on Docusign from $75.00 to $54.00 and set a “neutral” rating on the stock in a report on Wednesday, March 18th. Three equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $61.40.

Insider Buying and Selling

In related news, CEO Allan C. Thygesen sold 26,250 shares of the stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $47.78, for a total value of $1,254,225.00. Following the transaction, the chief executive officer owned 152,237 shares of the company’s stock, valued at $7,273,883.86. This represents a 14.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 value of $281,040.00. Following the sale, the executive directly owned 79,233 shares in the company, valued at $3,711,273.72. This trade represents a 7.04% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 64,309 shares of company stock valued at $3,061,570 over the last 90 days. 0.59% of the stock is 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.