Swedbank AB Decreases Stake in Docusign Inc. $DOCU

Key Points

• Swedbank AB cut its Docusign stake by 44% in the fourth quarter, selling 57,771 shares and leaving it with 73,588 shares valued at about $5.03 million.
• Docusign insiders have also been selling shares, including CEO Allan C. Thygesen and Director Mary Agnes Wilderotter; insiders sold 64,673 shares worth roughly $3.08 million over the last 90 days.
• The company recently reported better-than-expected earnings and announced a $2 billion stock buyback, but analysts remain cautious overall with a Hold consensus and an average price target of $61.40.

Swedbank AB lowered its position in Docusign Inc. (NASDAQ:DOCU - Free Report) by 44.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 73,588 shares of the company's stock after selling 57,771 shares during the quarter. Swedbank AB's holdings in Docusign were worth $5,033,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Central Pacific Bank Trust Division purchased a new stake in Docusign in the 4th quarter worth about $25,000. Torren Management LLC purchased a new stake in Docusign in the 4th quarter worth about $28,000. True Wealth Design LLC increased its holdings in Docusign by 105.2% in the 4th quarter. True Wealth Design LLC now owns 433 shares of the company's stock worth $30,000 after acquiring an additional 222 shares during the last quarter. Aventura Private Wealth LLC purchased a new stake in Docusign in the 4th quarter worth about $30,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Docusign in the 4th quarter worth about $44,000. Hedge funds and other institutional investors own 77.64% of the company's stock.

Insider Activity at Docusign

In other news, Director Mary Agnes Wilderotter sold 3,000 shares of the business's stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $48.15, for a total transaction of $144,450.00. Following the completion of the transaction, the director owned 59,803 shares of the company's stock, valued at approximately $2,879,514.45. The trade was a 4.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Allan C. Thygesen sold 26,250 shares of the business's stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $47.78, for a total value of $1,254,225.00. Following the transaction, the chief executive officer directly owned 152,237 shares of the company's stock, valued at $7,273,883.86. The trade was a 14.71% decrease in their position. 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. Insiders have sold 64,673 shares of company stock valued at $3,077,699 in the last ninety days. Insiders own 0.59% of the company's stock.

Docusign Stock Down 0.4%

DOCU stock opened at $49.32 on Wednesday. The firm has a market capitalization of $9.58 billion, a PE ratio of 33.32, a PEG ratio of 1.89 and a beta of 0.88. Docusign Inc. has a twelve month low of $40.16 and a twelve month high of $94.67. The stock has a 50-day simple moving average of $47.08 and a two-hundred day simple moving average of $55.03.

Docusign (NASDAQ:DOCU - Get Free Report) last posted its earnings results on Tuesday, March 17th. The company reported $1.01 earnings per share for the quarter, beating analysts' consensus estimates of $0.95 by $0.06. Docusign had a return on equity of 16.86% and a net margin of 9.60%.The business had revenue of $836.86 million during the quarter, compared to analyst estimates of $828.23 million. During the same quarter in the previous year, the firm earned $0.86 EPS. The company's quarterly revenue was up 7.8% compared to the same quarter last year. On average, equities research analysts anticipate that Docusign Inc. will post 1.76 EPS for the current fiscal year.

Docusign declared that its Board of Directors has approved a stock buyback program on Tuesday, March 17th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the company to reacquire up to 21% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's management believes its shares are undervalued.

Analyst Ratings Changes

DOCU has been the subject of a number of recent analyst reports. Jefferies Financial Group lowered Docusign from a "buy" rating to a "hold" rating and reduced their target price for the company from $105.00 to $45.00 in a report on Monday, February 23rd. HSBC set a $53.00 target price on Docusign in a report on Friday, February 13th. Piper Sandler reduced their target price on Docusign from $75.00 to $52.00 and set a "neutral" rating for the company in a report on Wednesday, March 18th. Robert W. Baird reduced 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. Finally, Wells Fargo & Company reduced 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. 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 stock. According to data from MarketBeat, Docusign presently has a consensus rating of "Hold" and an average price target of $61.40.

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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