Kera Capital Partners Inc. Increases Stake in Docusign Inc. $DOCU

Kera Capital Partners Inc. grew its stake in Docusign Inc. (NASDAQ:DOCU) by 347.8% during the 4th quarter, HoldingsChannel reports. The firm owned 16,556 shares of the company’s stock after buying an additional 12,859 shares during the quarter. Kera Capital Partners Inc.’s holdings in Docusign were worth $1,132,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in DOCU. Norges Bank acquired a new position in shares of Docusign in the 4th quarter valued at $186,795,000. Capital World Investors grew its position in Docusign by 38.1% during the fourth quarter. Capital World Investors now owns 5,815,804 shares of the company’s stock valued at $397,801,000 after buying an additional 1,603,900 shares during the period. Woodline Partners LP grew its position in Docusign by 24,412.7% during the third quarter. Woodline Partners LP now owns 958,938 shares of the company’s stock valued at $69,130,000 after buying an additional 955,026 shares during the period. 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 buying an additional 946,512 shares in the last quarter. Finally, Marshall Wace LLP increased its holdings in Docusign by 1,575.5% in the fourth quarter. Marshall Wace LLP now owns 888,411 shares of the company’s stock valued at $60,767,000 after buying an additional 835,388 shares in the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.

Docusign Stock Performance

NASDAQ DOCU opened at $43.47 on Friday. The business has a fifty day moving average price of $47.21 and a 200 day moving average price of $52.68. The company has a market cap of $8.30 billion, a P/E ratio of 28.23, a P/E/G ratio of 1.29 and a beta of 0.92. Docusign Inc. has a one year low of $40.16 and a one year high of $86.65.

Docusign (NASDAQ:DOCU) last announced its earnings results on Thursday, June 4th. The company reported $1.09 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $824.71 million. During the same quarter in the previous year, the company posted $0.90 EPS. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. As a group, sell-side analysts predict that Docusign Inc. will post 1.97 EPS for the current fiscal year.

Docusign announced that its board has initiated a share repurchase plan on Tuesday, March 17th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 21% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on DOCU shares. Citigroup increased their target price on shares of Docusign from $50.00 to $54.00 and gave the stock a “neutral” rating in a research note on Friday, June 5th. Jefferies Financial Group lifted their price target on Docusign from $45.00 to $50.00 and gave the company a “hold” rating in a research note on Friday, June 5th. Piper Sandler reduced their price target on Docusign from $75.00 to $52.00 and set a “neutral” rating for the company in a report on Wednesday, March 18th. Robert W. Baird lowered their price target on Docusign from $75.00 to $55.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 18th. Finally, UBS Group set a $60.00 price objective on Docusign in a report on Friday, June 5th. Three equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Docusign has an average rating of “Hold” and an average price target of $60.27.

Insider Buying and Selling at Docusign

In related news, insider James P. Shaughnessy sold 12,000 shares of the company’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $46.83, for a total transaction of $561,960.00. Following the completion of the sale, the insider owned 53,631 shares of the company’s stock, valued at approximately $2,511,539.73. This represents a 18.28% 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, CRO Paula Hansen sold 6,000 shares of the stock in a transaction dated 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 approximately $3,711,273.72. The trade was a 7.04% 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 48,793 shares of company stock valued at $2,322,737. Corporate insiders own 0.59% of the company’s stock.

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.