BI Asset Management Fondsmaeglerselskab A S Has $591,000 Position in Docusign Inc. $DOCU

BI Asset Management Fondsmaeglerselskab A S lessened its holdings in shares of Docusign Inc. (NASDAQ:DOCU) by 58.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,465 shares of the company’s stock after selling 17,196 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Docusign were worth $591,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of DOCU. Central Pacific Bank Trust Division bought a new stake in Docusign in the 4th quarter valued at $25,000. Modus Advisors LLC bought a new position in Docusign during the 4th quarter worth about $27,000. Torren Management LLC acquired a new stake in shares of Docusign in the 4th quarter valued at about $28,000. True Wealth Design LLC raised its stake in shares of Docusign by 105.2% in the 4th 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, Aventura Private Wealth LLC acquired a new stake in shares of Docusign in the 4th quarter valued at about $30,000. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on DOCU shares. Wall Street Zen raised Docusign from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 13th. Jefferies Financial Group lifted their target price on Docusign from $45.00 to $50.00 and gave the company a “hold” rating in a research report on Friday, June 5th. Bank of America initiated coverage on Docusign in a research note on Tuesday, March 31st. They issued an “underperform” rating and a $52.00 target price on the stock. Weiss Ratings raised Docusign from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, June 3rd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Docusign in a research note on Friday, June 5th. Three investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Docusign has an average rating of “Hold” and a consensus target price of $60.27.

Docusign Stock Down 4.0%

Shares of Docusign stock opened at $42.46 on Friday. The stock has a market cap of $8.11 billion, a P/E ratio of 27.57, a P/E/G ratio of 1.34 and a beta of 0.92. Docusign Inc. has a 12-month low of $40.16 and a 12-month high of $86.65. The business’s 50 day moving average is $47.04 and its 200-day moving average is $51.77.

Docusign (NASDAQ:DOCU) last posted its quarterly 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. The firm had revenue of $830.24 million for the quarter, compared to analyst estimates of $824.71 million. Docusign had a net margin of 9.59% and a return on equity of 17.48%. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.90 earnings per share. On average, sell-side analysts expect that Docusign Inc. will post 1.97 EPS for the current year.

Docusign announced that its Board of Directors has approved a stock repurchase program on Tuesday, March 17th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 21% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In related news, CRO Paula Hansen sold 6,000 shares of Docusign stock in a transaction dated 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 transaction, the executive owned 79,233 shares in the company, valued at approximately $3,711,273.72. This trade represents a 7.04% 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 Robert Chatwani sold 15,902 shares of the company’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $43.01, for a total value of $683,945.02. Following the completion of the sale, the insider owned 72,805 shares in the company, valued at $3,131,343.05. This represents a 17.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 64,695 shares of company stock worth $3,006,682 in the last three months. 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.