Fjarde AP Fonden Fourth Swedish National Pension Fund Sells 56,086 Shares of Docusign Inc. $DOCU

Key Points

• Fjarde AP Fonden sharply reduced its Docusign stake in Q1, selling 56,086 shares and cutting its position by 93.9% to just 3,614 shares worth about $171,000.
• Insider selling has also been active, with executives including Robert Chatwani and James P. Shaughnessy selling shares in recent weeks; insiders have sold 76,695 shares over the past three months.
• Docusign beat earnings expectations in its latest quarterly report, posting $1.09 EPS versus $0.99 expected and revenue of $830.24 million, while analysts currently rate the stock a consensus Hold with an average target price of $60.27.

Fjarde AP Fonden Fourth Swedish National Pension Fund cut its position in shares of Docusign Inc. (NASDAQ:DOCU - Free Report) by 93.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,614 shares of the company's stock after selling 56,086 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Docusign were worth $171,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of DOCU. Norges Bank bought a new position in shares of Docusign during the 4th quarter worth approximately $186,795,000. Capital World Investors lifted its position in shares of Docusign by 38.1% in the fourth quarter. Capital World Investors now owns 5,815,804 shares of the company's stock worth $397,801,000 after purchasing an additional 1,603,900 shares in the last quarter. SG Americas Securities LLC boosted its holdings in Docusign by 452.3% during the first quarter. SG Americas Securities LLC now owns 1,314,632 shares of the company's stock worth $62,327,000 after purchasing an additional 1,076,622 shares during the last quarter. Woodline Partners LP grew its position in Docusign by 24,412.7% in the third quarter. Woodline Partners LP now owns 958,938 shares of the company's stock valued at $69,130,000 after purchasing an additional 955,026 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its position 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 purchasing an additional 946,512 shares in the last quarter. Institutional investors and hedge funds own 77.64% of the company's stock.

Insider Buying and Selling at Docusign

In other Docusign news, insider Robert Chatwani sold 15,902 shares of Docusign stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $43.01, for a total transaction of $683,945.02. Following the completion of the transaction, the insider directly owned 72,805 shares of the company's stock, valued at $3,131,343.05. The trade was a 17.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider James P. Shaughnessy sold 12,000 shares of the company's stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $45.54, for a total transaction of $546,480.00. Following the completion of the transaction, the insider owned 52,815 shares in the company, valued at approximately $2,405,195.10. This represents a 18.51% decrease in their ownership of the stock. 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 76,695 shares of company stock worth $3,476,002 in the last three months. 0.59% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Needham & Company LLC reissued a "hold" rating on shares of Docusign in a research report on Friday, June 5th. Piper Sandler decreased their price objective on Docusign from $75.00 to $52.00 and set a "neutral" rating for the company in a report on Wednesday, March 18th. Morgan Stanley lowered their target price on Docusign from $90.00 to $69.00 and set an "equal weight" rating on the stock in a research report on Wednesday, March 18th. Citizens Jmp dropped their target price 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, Citigroup raised their price target on Docusign from $50.00 to $54.00 and gave the company a "neutral" rating in a research note on Friday, June 5th. Three research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $60.27.

Docusign Stock Performance

Docusign stock opened at $46.90 on Tuesday. Docusign Inc. has a 52 week low of $40.16 and a 52 week high of $86.65. The stock has a market capitalization of $8.96 billion, a P/E ratio of 30.45, a PEG ratio of 1.35 and a beta of 0.90. The stock has a 50-day simple moving average of $46.89 and a 200 day simple moving average of $50.63.

Docusign (NASDAQ:DOCU - Get Free Report) last announced its quarterly earnings results on Thursday, June 4th. The company reported $1.09 earnings per share for the quarter, topping analysts' consensus estimates of $0.99 by $0.10. Docusign had a return on equity of 17.48% and a net margin of 9.59%.The firm had revenue of $830.24 million for the quarter, compared to the consensus estimate of $824.71 million. During the same quarter in the previous year, the business earned $0.90 earnings per share. The business's revenue was up 8.7% compared to the same quarter last year. Research analysts forecast that Docusign Inc. will post 2.03 earnings per share 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.

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.

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