Hsbc Holdings PLC Has $7.09 Million Stake in Docusign Inc. $DOCU

Key Points

• HSBC Holdings PLC cut its Docusign stake by 67.3% in the first quarter, selling more than 307,000 shares and ending with 148,838 shares valued at about $7.09 million.
• Docusign beat earnings expectations in its latest quarter, reporting $1.09 EPS versus the $0.99 estimate and revenue of $830.24 million, up 8.7% year over year.
• Analysts remain cautious overall on DOCU, with a consensus “Hold” rating and an average price target of about $60.27, even as a few firms recently adjusted their targets and ratings.

Hsbc Holdings PLC reduced its stake in shares of Docusign Inc. (NASDAQ:DOCU - Free Report) by 67.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 148,838 shares of the company's stock after selling 307,018 shares during the period. Hsbc Holdings PLC owned 0.08% of Docusign worth $7,093,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Modus Advisors LLC bought a new position in shares of Docusign during the fourth quarter worth about $27,000. Torren Management LLC bought a new stake in Docusign in the fourth quarter valued at approximately $28,000. Cary Street Partners Investment Advisory LLC boosted its holdings in Docusign by 309.5% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 561 shares of the company's stock valued at $38,000 after acquiring an additional 424 shares during the last quarter. Basepoint Wealth LLC acquired a new stake in Docusign during the 4th quarter valued at approximately $39,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Docusign during the 4th quarter valued at approximately $44,000. 77.64% of the stock is owned by institutional investors and hedge funds.

Docusign Stock Performance

Docusign stock opened at $47.04 on Friday. The stock has a market capitalization of $8.98 billion, a price-to-earnings ratio of 30.55, a PEG ratio of 1.41 and a beta of 0.90. Docusign Inc. has a 52-week low of $40.16 and a 52-week high of $86.65. The stock's 50 day moving average price is $47.78 and its two-hundred day moving average price is $48.87.

Docusign (NASDAQ:DOCU - Get Free Report) last released its quarterly earnings data on Thursday, June 4th. The company reported $1.09 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $824.71 million. During the same quarter in the previous year, the business posted $0.90 EPS. Docusign's revenue for the quarter was up 8.7% compared to the same quarter last year. On average, equities research analysts forecast that Docusign Inc. will post 2.03 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on DOCU shares. Wall Street Zen downgraded shares of Docusign from a "strong-buy" rating to a "buy" rating in a research report on Sunday, July 12th. Citigroup increased their price objective on shares of Docusign from $50.00 to $54.00 and gave the stock a "neutral" rating in a research report on Friday, June 5th. Wedbush lowered their target price on shares of Docusign from $60.00 to $58.00 and set a "neutral" rating for the company in a research note on Friday, June 5th. Bank of America started coverage on shares of Docusign in a research note on Tuesday, March 31st. They set an "underperform" rating and a $52.00 target price for the company. Finally, UBS Group set a $60.00 target price on shares of Docusign in a report on Friday, June 5th. Three research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $60.27.

Insider Activity

In other news, insider James P. Shaughnessy sold 12,000 shares of the stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $45.54, for a total transaction of $546,480.00. Following the transaction, the insider owned 52,815 shares of the company's stock, valued at $2,405,195.10. This represents a 18.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Blake Jeffrey Grayson sold 15,000 shares of the firm's stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $45.55, for a total value of $683,250.00. Following the completion of the sale, the chief financial officer owned 141,429 shares of the company's stock, valued at approximately $6,442,090.95. This represents a 9.59% 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. In the last ninety days, insiders have sold 76,695 shares of company stock valued at $3,476,002. Corporate insiders own 0.59% of the company's stock.

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.

Want to see what other hedge funds are holding DOCU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Docusign Inc. (NASDAQ:DOCU - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.