Skandinaviska Enskilda Banken AB publ Sells 565,494 Shares of Docusign Inc. (NASDAQ:DOCU)

Key Points

• Skandinaviska Enskilda Banken AB reduced its stake in Docusign by 38.1%, holding approximately $74.72 million in the company as of its latest SEC filing.
• Several institutional investors, including FMR LLC and Invesco Ltd., increased their stakes significantly in the company during the 4th quarter.
• Docusign's quarterly earnings report revealed a 7.6% revenue increase year-over-year, with an earnings per share of $0.90, surpassing analyst expectations.

Skandinaviska Enskilda Banken AB publ lowered its stake in shares of Docusign Inc. (NASDAQ:DOCU - Free Report) by 38.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 917,880 shares of the company's stock after selling 565,494 shares during the period. Skandinaviska Enskilda Banken AB publ owned approximately 0.45% of Docusign worth $74,715,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in DOCU. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Docusign during the fourth quarter valued at about $300,000. Sei Investments Co. raised its holdings in shares of Docusign by 14.5% in the 4th quarter. Sei Investments Co. now owns 56,807 shares of the company's stock worth $5,109,000 after acquiring an additional 7,215 shares during the last quarter. LPL Financial LLC raised its holdings in shares of Docusign by 12.4% in the 4th quarter. LPL Financial LLC now owns 209,927 shares of the company's stock worth $18,881,000 after acquiring an additional 23,181 shares during the last quarter. FineMark National Bank & Trust acquired a new stake in shares of Docusign in the 4th quarter worth about $210,000. Finally, Meiji Yasuda Asset Management Co Ltd. raised its holdings in shares of Docusign by 64.7% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 16,873 shares of the company's stock worth $1,518,000 after acquiring an additional 6,631 shares during the last quarter. Institutional investors and hedge funds own 77.64% of the company's stock.

Insider Buying and Selling at Docusign

In other news, CEO Allan C. Thygesen sold 40,000 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $77.51, for a total value of $3,100,400.00. Following the sale, the chief executive officer owned 143,983 shares of the company's stock, valued at $11,160,122.33. The trade was a 21.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Robert Chatwani sold 22,875 shares of the business's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $74.79, for a total transaction of $1,710,821.25. Following the completion of the sale, the insider directly owned 72,126 shares in the company, valued at approximately $5,394,303.54. This trade represents a 24.08% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 78,552 shares of company stock worth $5,983,631. 1.01% of the stock is currently owned by company insiders.

Docusign Trading Down 0.4%

Shares of NASDAQ:DOCU traded down $0.30 during mid-day trading on Tuesday, reaching $80.09. The company had a trading volume of 416,029 shares, compared to its average volume of 2,613,114. Docusign Inc. has a one year low of $48.80 and a one year high of $107.86. The company's 50-day moving average price is $79.96 and its 200-day moving average price is $82.92. The firm has a market cap of $16.18 billion, a price-to-earnings ratio of 15.15, a PEG ratio of 29.81 and a beta of 1.08.

Docusign (NASDAQ:DOCU - Get Free Report) last posted its quarterly earnings results on Thursday, June 5th. The company reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.09. The company had revenue of $763.65 million during the quarter, compared to the consensus estimate of $748.79 million. Docusign had a return on equity of 14.27% and a net margin of 36.50%. The firm's quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.82 EPS. On average, research analysts anticipate that Docusign Inc. will post 1.17 EPS for the current fiscal year.

Docusign announced that its board has initiated a stock repurchase plan on Thursday, June 5th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 6.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on DOCU shares. Needham & Company LLC restated a "hold" rating on shares of Docusign in a report on Friday, June 6th. Bank of America lowered their target price on shares of Docusign from $88.00 to $85.00 and set a "neutral" rating on the stock in a report on Friday, June 6th. Citigroup lowered their target price on shares of Docusign from $115.00 to $110.00 and set a "buy" rating on the stock in a report on Monday, June 9th. Jefferies Financial Group lowered their target price on shares of Docusign from $115.00 to $105.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Finally, Hsbc Global Res upgraded shares of Docusign from a "moderate sell" rating to a "hold" rating in a research note on Friday, April 11th. Twelve analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $89.77.

Docusign Company Profile

DocuSign, Inc provides electronic signature solution in the United States and internationally. The company provides e-signature solution that enables sending and signing of agreements on various devices; Contract Lifecycle Management (CLM), which automates workflows across the entire agreement process; Document Generation streamlines the process of generating new, custom agreements; and Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce.