KLP Kapitalforvaltning AS Has $11.35 Million Holdings in Docusign Inc. $DOCU

Key Points

• KLP Kapitalforvaltning AS cut its stake in DocuSign by 28.3% in Q4, selling 65,600 shares and now holds 165,900 shares worth about $11.35 million (0.08% of the company).
• DocuSign's board approved a $2.0 billion stock buyback plan that would allow the company to repurchase roughly 21% of outstanding shares.
• The stock carries a MarketBeat consensus rating of Hold with an average price target of $61.40, following several recent price-target cuts and a majority of analysts (14 of 19) rating it "Hold."

KLP Kapitalforvaltning AS cut its holdings in Docusign Inc. (NASDAQ:DOCU - Free Report) by 28.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 165,900 shares of the company's stock after selling 65,600 shares during the quarter. KLP Kapitalforvaltning AS owned 0.08% of Docusign worth $11,348,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Nordea Investment Management AB increased its holdings in shares of Docusign by 3.6% during the third quarter. Nordea Investment Management AB now owns 1,154,824 shares of the company's stock valued at $87,316,000 after acquiring an additional 40,432 shares in the last quarter. Rakuten Investment Management Inc. bought a new stake in shares of Docusign during the third quarter valued at approximately $5,335,000. Bank of New York Mellon Corp increased its holdings in shares of Docusign by 3.1% during the third quarter. Bank of New York Mellon Corp now owns 1,594,884 shares of the company's stock valued at $114,975,000 after acquiring an additional 47,331 shares in the last quarter. Retirement Systems of Alabama increased its holdings in shares of Docusign by 11.1% during the third quarter. Retirement Systems of Alabama now owns 519,106 shares of the company's stock valued at $37,422,000 after acquiring an additional 51,922 shares in the last quarter. Finally, Federated Hermes Inc. increased its holdings in shares of Docusign by 101.0% during the third quarter. Federated Hermes Inc. now owns 230,524 shares of the company's stock valued at $16,618,000 after acquiring an additional 115,829 shares in the last quarter. 77.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. HSBC set a $53.00 price objective on Docusign in a research note on Friday, February 13th. Piper Sandler reduced their price objective on Docusign from $75.00 to $52.00 and set a "neutral" rating for the company in a research note on Wednesday, March 18th. Weiss Ratings downgraded Docusign from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Wednesday, April 15th. Morgan Stanley reduced their price objective on Docusign from $90.00 to $69.00 and set an "equal weight" rating for the company in a research note on Wednesday, March 18th. Finally, Royal Bank Of Canada reduced their price objective on Docusign from $70.00 to $55.00 and set a "sector perform" rating for the company in a research note on Wednesday, March 18th. Three analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $61.40.

Insider Buying and Selling at Docusign

In other Docusign news, Director Mary Agnes Wilderotter sold 3,000 shares of the company's stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $48.15, for a total transaction of $144,450.00. Following the sale, the director directly owned 59,803 shares of the company's stock, valued at $2,879,514.45. This represents a 4.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CRO Paula Hansen sold 6,000 shares of the company's stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $46.84, for a total transaction of $281,040.00. Following the sale, the executive directly owned 79,233 shares in the company, valued at approximately $3,711,273.72. This trade represents a 7.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 64,673 shares of company stock valued at $3,077,699. Insiders own 1.01% of the company's stock.

Docusign Price Performance

Shares of NASDAQ:DOCU opened at $45.02 on Friday. The company has a market capitalization of $8.75 billion, a PE ratio of 30.42, a price-to-earnings-growth ratio of 1.81 and a beta of 0.99. Docusign Inc. has a 1 year low of $40.16 and a 1 year high of $94.67. The business has a fifty day moving average price of $46.40 and a two-hundred day moving average price of $58.60.

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 the consensus estimate of $0.95 by $0.06. Docusign had a return on equity of 16.86% and a net margin of 9.60%.The company had revenue of $836.86 million during the quarter, compared to analyst estimates of $828.23 million. During the same quarter last year, the firm posted $0.86 EPS. The firm's revenue for the quarter was up 7.8% on a year-over-year basis. Sell-side analysts anticipate that Docusign Inc. will post 1.76 earnings per share for the current year.

Docusign announced that its board has approved a stock buyback plan on Tuesday, March 17th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 21% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's leadership believes its shares are 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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