KBC Group NV Has $2.02 Million Stake in Docusign Inc. $DOCU

Key Points

• KBC Group NV trimmed its position in DocuSign by 86.3% in Q4, selling 185,610 shares and leaving a 29,494-share stake worth about $2.02 million.
• DocuSign beat quarterly expectations (EPS $1.01 vs. $0.95; revenue $836.9M vs. $828.2M, +7.8% YoY) and its board approved a $2.00 billion share buyback program that could repurchase up to 21% of outstanding stock.
• Analysts' consensus is a "Hold" with a $61.40 price target after several downgrades, while insiders have sold roughly 64,673 shares (~$3.08M) in the past 90 days and now own 1.66% of the company.

KBC Group NV trimmed its position in Docusign Inc. (NASDAQ:DOCU - Free Report) by 86.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,494 shares of the company's stock after selling 185,610 shares during the quarter. KBC Group NV's holdings in Docusign were worth $2,017,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Central Pacific Bank Trust Division acquired a new position in shares of Docusign in the fourth quarter valued at $25,000. Aventura Private Wealth LLC acquired a new position in shares of Docusign in the fourth quarter valued at $30,000. True Wealth Design LLC raised its stake in shares of Docusign by 105.2% in the fourth quarter. True Wealth Design LLC now owns 433 shares of the company's stock valued at $30,000 after purchasing an additional 222 shares in the last quarter. SJS Investment Consulting Inc. grew its position in Docusign by 5,318.2% in the third quarter. SJS Investment Consulting Inc. now owns 596 shares of the company's stock valued at $43,000 after acquiring an additional 585 shares during the period. Finally, CX Institutional grew its position in Docusign by 5,860.0% in the third quarter. CX Institutional now owns 596 shares of the company's stock valued at $43,000 after acquiring an additional 586 shares during the period. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Docusign Price Performance

Shares of NASDAQ:DOCU opened at $47.71 on Tuesday. The business's fifty day moving average price is $46.31 and its two-hundred day moving average price is $58.93. The stock has a market capitalization of $9.27 billion, a price-to-earnings ratio of 32.24, a price-to-earnings-growth ratio of 1.74 and a beta of 0.99. Docusign Inc. has a fifty-two week low of $40.16 and a fifty-two week high of $94.67.

Docusign (NASDAQ:DOCU - Get Free Report) last announced its earnings results on Tuesday, March 17th. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.95 by $0.06. The company had revenue of $836.86 million for the quarter, compared to analysts' expectations of $828.23 million. Docusign had a return on equity of 16.86% and a net margin of 9.60%.The business's revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.86 earnings per share. Research analysts expect that Docusign Inc. will post 1.76 EPS for the current fiscal year.

Docusign announced that its Board of Directors has approved a stock repurchase program on Tuesday, March 17th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 21% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Morgan Stanley lowered their price target 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. Citigroup cut Docusign from a "buy" rating to a "neutral" rating and lowered their price target for the company from $99.00 to $50.00 in a research report on Friday, April 10th. BTIG Research reiterated a "buy" rating and issued a $70.00 price target on shares of Docusign in a research report on Wednesday, March 18th. HSBC set a $53.00 price target on Docusign in a research report on Friday, February 13th. Finally, Wells Fargo & Company lowered their price target on Docusign from $75.00 to $60.00 and set an "equal weight" rating on the stock in a research report on Wednesday, March 18th. Three research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $61.40.

Insider Activity at Docusign

In other news, CRO Paula Hansen sold 6,000 shares of the stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $46.84, for a total transaction of $281,040.00. Following the sale, the executive owned 79,233 shares in the company, valued at approximately $3,711,273.72. This represents a 7.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robert Chatwani sold 16,696 shares of the stock in a transaction on Wednesday, March 18th. The stock was 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 $3,485,229.80. The trade was a 18.73% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 64,673 shares of company stock valued at $3,077,699. 1.66% of the stock is currently owned by company insiders.

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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