Bank Julius Baer & Co. Ltd Zurich Decreases Stock Holdings in Docusign Inc. $DOCU

Key Points

• Bank Julius Baer cut its Docusign stake by 98.4% in the fourth quarter, leaving it with just 450 shares worth about $31,000.
• Several analysts turned more cautious on DOCU, with price targets being lowered and the consensus rating currently sitting at “Hold” with an average target price of $61.40.
• Docusign reported better-than-expected quarterly results, earning $1.01 per share on revenue of $836.86 million, and its board authorized a $2 billion share repurchase program.

Bank Julius Baer & Co. Ltd Zurich decreased its position in Docusign Inc. (NASDAQ:DOCU - Free Report) by 98.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 450 shares of the company's stock after selling 27,740 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich's holdings in Docusign were worth $31,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of DOCU. EverSource Wealth Advisors LLC increased its position in shares of Docusign by 15.1% during the third quarter. EverSource Wealth Advisors LLC now owns 1,229 shares of the company's stock valued at $89,000 after buying an additional 161 shares during the period. Smartleaf Asset Management LLC increased its position in shares of Docusign by 8.2% during the second quarter. Smartleaf Asset Management LLC now owns 2,169 shares of the company's stock valued at $166,000 after buying an additional 165 shares during the period. Americana Partners LLC increased its position in shares of Docusign by 3.3% during the third quarter. Americana Partners LLC now owns 5,467 shares of the company's stock valued at $394,000 after buying an additional 176 shares during the period. Centaurus Financial Inc. increased its position in shares of Docusign by 3.4% during the third quarter. Centaurus Financial Inc. now owns 5,582 shares of the company's stock valued at $402,000 after buying an additional 184 shares during the period. Finally, MGO One Seven LLC increased its position in shares of Docusign by 5.5% during the third quarter. MGO One Seven LLC now owns 3,537 shares of the company's stock valued at $255,000 after buying an additional 185 shares during the period. Hedge funds and other institutional investors own 77.64% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on DOCU. Weiss Ratings cut shares of Docusign from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Wednesday, April 15th. Citizens Jmp reduced their price target on shares of Docusign from $124.00 to $86.00 and set a "market outperform" rating on the stock in a research report on Wednesday, March 18th. UBS Group reduced their price target on shares of Docusign from $75.00 to $54.00 and set a "neutral" rating on the stock in a research report on Wednesday, March 18th. Needham & Company LLC reiterated a "hold" rating on shares of Docusign in a research report on Tuesday, March 10th. Finally, Citigroup cut shares of Docusign from a "buy" rating to a "neutral" rating and reduced their price target for the company from $99.00 to $50.00 in a research report on Friday, April 10th. Three analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, Docusign presently has an average rating of "Hold" and an average target price of $61.40.

Insiders Place Their Bets

In other Docusign news, insider Robert Chatwani sold 16,696 shares of the company's stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $48.10, for a total value of $803,077.60. Following the sale, the insider owned 72,458 shares in the company, valued at approximately $3,485,229.80. This represents a 18.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Allan C. Thygesen sold 26,250 shares of the company's stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $47.78, for a total transaction of $1,254,225.00. Following the completion of the transaction, the chief executive officer owned 152,237 shares in the company, valued at approximately $7,273,883.86. This represents a 14.71% 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 quarter, insiders have sold 64,673 shares of company stock valued at $3,077,699. Insiders own 0.59% of the company's stock.

Docusign Stock Performance

Shares of DOCU opened at $47.71 on Monday. The stock has a market cap of $9.27 billion, a PE ratio of 32.24, a price-to-earnings-growth ratio of 1.82 and a beta of 0.88. Docusign Inc. has a fifty-two week low of $40.16 and a fifty-two week high of $94.67. The firm's 50-day simple moving average is $46.89 and its two-hundred day simple moving average is $56.11.

Docusign (NASDAQ:DOCU - Get Free Report) last announced its quarterly earnings data on Tuesday, March 17th. The company reported $1.01 earnings per share for the quarter, topping analysts' consensus estimates of $0.95 by $0.06. The business had revenue of $836.86 million for the quarter, compared to analysts' expectations of $828.23 million. Docusign had a net margin of 9.60% and a return on equity of 16.86%. The business's revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.86 earnings per share. Equities research analysts predict that Docusign Inc. will post 1.76 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 reacquire up to 21% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's board believes its stock is undervalued.

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.

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