PFA Pension Forsikringsaktieselskab Acquires Shares of 206,646 Docusign Inc. $DOCU

Key Points

• PFA Pension Forsikringsaktieselskab bought 206,646 shares of DocuSign (≈$14.28 million), representing about 0.10% of the company per its latest 13F filing.
• DocuSign beat quarterly estimates with $1.01 EPS (vs. $0.95) and $836.9M revenue (up 7.8% year-over-year), and its board approved a $2.0 billion share buyback authorization covering up to 21% of outstanding shares.
• Insiders sold a total of 64,673 shares in the past three months (including CEO and CRO transactions), while analysts have trimmed targets and the stock carries a consensus "Hold" rating with a $61.40 price target.

PFA Pension Forsikringsaktieselskab bought a new stake in shares of Docusign Inc. (NASDAQ:DOCU - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 206,646 shares of the company's stock, valued at approximately $14,275,000. PFA Pension Forsikringsaktieselskab owned approximately 0.10% of Docusign as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. CapWealth Advisors LLC raised its holdings in shares of Docusign by 27.0% during the fourth quarter. CapWealth Advisors LLC now owns 102,045 shares of the company's stock valued at $6,980,000 after acquiring an additional 21,681 shares in the last quarter. Cullinan Associates Inc. bought a new position in shares of Docusign during the fourth quarter valued at approximately $294,000. Interchange Capital Partners LLC bought a new position in shares of Docusign during the fourth quarter valued at approximately $282,000. Certuity LLC raised its holdings in shares of Docusign by 31.8% during the fourth quarter. Certuity LLC now owns 7,403 shares of the company's stock valued at $506,000 after acquiring an additional 1,785 shares in the last quarter. Finally, Torren Management LLC bought a new position in shares of Docusign during the fourth quarter valued at approximately $28,000. Institutional investors own 77.64% of the company's stock.

Docusign Price Performance

Docusign stock opened at $47.96 on Monday. Docusign Inc. has a one year low of $40.16 and a one year high of $94.67. The stock has a market capitalization of $9.32 billion, a PE ratio of 32.41, a price-to-earnings-growth ratio of 1.83 and a beta of 0.88. The business's fifty day moving average is $46.53 and its 200 day moving average is $57.59.

Docusign (NASDAQ:DOCU - Get Free Report) last released its quarterly earnings data on Tuesday, March 17th. The company reported $1.01 EPS for the quarter, beating 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 for the quarter, compared to analysts' expectations of $828.23 million. During the same period last year, the firm posted $0.86 earnings per share. Docusign's revenue was up 7.8% compared to the same quarter last year. As a group, sell-side analysts expect that Docusign Inc. will post 1.76 EPS for the current fiscal year.

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

Insider Activity at Docusign

In related 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 directly owned 79,233 shares of the company's stock, valued at $3,711,273.72. This trade represents a 7.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Allan C. Thygesen sold 26,250 shares of the stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $47.78, for a total value of $1,254,225.00. Following the sale, the chief executive officer directly owned 152,237 shares in the company, valued at $7,273,883.86. This trade represents a 14.71% 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. Insiders sold a total of 64,673 shares of company stock valued at $3,077,699 over the last three months. 1.66% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

DOCU has been the subject of a number of recent analyst reports. Robert W. Baird decreased their target price on Docusign from $75.00 to $55.00 and set a "neutral" rating for the company in a report on Wednesday, March 18th. Wells Fargo & Company decreased their target price on Docusign from $75.00 to $60.00 and set an "equal weight" rating for the company in a report on Wednesday, March 18th. Jefferies Financial Group cut Docusign from a "buy" rating to a "hold" rating and reduced their price target for the stock from $105.00 to $45.00 in a research note on Monday, February 23rd. BTIG Research reaffirmed a "buy" rating and issued a $70.00 price target on shares of Docusign in a research note on Wednesday, March 18th. Finally, JPMorgan Chase & Co. reduced their price target on Docusign from $78.00 to $65.00 and set a "neutral" rating on the stock 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 issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $61.40.

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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