Hsbc Holdings PLC Has $31.20 Million Position in Docusign Inc. $DOCU

Hsbc Holdings PLC cut its position in Docusign Inc. (NASDAQ:DOCU - Free Report) by 24.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 455,856 shares of the company's stock after selling 151,200 shares during the quarter. Hsbc Holdings PLC owned about 0.23% of Docusign worth $31,198,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp lifted its holdings in shares of Docusign by 0.9% during the fourth quarter. State Street Corp now owns 8,193,805 shares of the company's stock worth $560,456,000 after buying an additional 77,008 shares in the last quarter. Capital World Investors increased 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 worth $397,801,000 after acquiring an additional 1,603,900 shares during the period. Geode Capital Management LLC raised its stake in Docusign by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 4,084,463 shares of the company's stock worth $278,665,000 after purchasing an additional 18,873 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Docusign by 8.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,343,613 shares of the company's stock worth $228,703,000 after purchasing an additional 251,639 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Docusign by 46.1% in the 4th 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 during the period. 77.64% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

DOCU has been the topic of several recent research reports. Royal Bank Of Canada lowered their target price on shares of Docusign from $70.00 to $55.00 and set a "sector perform" rating on the stock in a report on Wednesday, March 18th. Wall Street Zen raised Docusign from a "buy" rating to a "strong-buy" rating in a research report on Saturday, June 13th. Wedbush lowered their price objective on Docusign from $60.00 to $58.00 and set a "neutral" rating on the stock in a research note on Friday, June 5th. Robert W. Baird dropped their price objective on Docusign from $75.00 to $55.00 and set a "neutral" rating for the company in a report on Wednesday, March 18th. Finally, Citigroup increased their target price on Docusign from $50.00 to $54.00 and gave the stock a "neutral" rating in a report on Friday, June 5th. Three research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Docusign has an average rating of "Hold" and an average target price of $60.27.

Insider Transactions at Docusign

In other news, CEO Allan C. Thygesen sold 26,250 shares of the firm's stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $46.02, for a total value of $1,208,025.00. Following the sale, the chief executive officer directly owned 159,038 shares in the company, valued at approximately $7,318,928.76. This trade represents a 14.17% decrease in their position. 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, CRO Paula Hansen sold 6,000 shares of Docusign stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $45.54, for a total transaction of $273,240.00. Following the sale, the executive directly owned 89,972 shares in the company, valued at $4,097,324.88. This trade represents a 6.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 76,695 shares of company stock valued at $3,476,002. Company insiders own 0.59% of the company's stock.

Docusign Price Performance

Shares of DOCU opened at $46.90 on Tuesday. Docusign Inc. has a one year low of $40.16 and a one year high of $86.65. The company has a market cap of $8.96 billion, a P/E ratio of 30.45, a P/E/G ratio of 1.35 and a beta of 0.90. The firm has a 50 day simple moving average of $46.89 and a two-hundred day simple moving average of $50.63.

Docusign (NASDAQ:DOCU - Get Free Report) last issued its earnings results on Thursday, June 4th. The company reported $1.09 earnings per share for the quarter, beating 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 last year, the business posted $0.90 EPS. The company's revenue was up 8.7% compared to the same quarter last year. On average, analysts expect that Docusign Inc. will post 2.03 earnings per share for the current fiscal year.

Docusign announced that its board has authorized a share repurchase program on Tuesday, March 17th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 21% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's board believes its stock is undervalued.

About Docusign

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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