Swiss National Bank Has $18.78 Million Stake in Docusign Inc. $DOCU

Key Points

• Swiss National Bank cut its Docusign position by 28.1% in the first quarter, but still held 396,200 shares valued at about $18.78 million.
• Docusign reported better-than-expected quarterly results, with EPS of $1.09 versus $0.99 expected and revenue of $830.24 million, up 8.7% year over year.
• Despite the earnings beat, Wall Street remains cautious: analysts currently rate the stock a Hold on average, with a consensus price target of about $60.27.

Swiss National Bank lowered its holdings in shares of Docusign Inc. (NASDAQ:DOCU - Free Report) by 28.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 396,200 shares of the company's stock after selling 154,500 shares during the period. Swiss National Bank owned approximately 0.20% of Docusign worth $18,784,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Modus Advisors LLC acquired a new stake in shares of Docusign in the 4th quarter worth about $27,000. Torren Management LLC purchased a new stake in Docusign during the fourth quarter worth about $28,000. Cary Street Partners Investment Advisory LLC raised its position in Docusign by 309.5% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 561 shares of the company's stock worth $38,000 after acquiring an additional 424 shares during the period. Basepoint Wealth LLC purchased a new position in Docusign in the fourth quarter valued at approximately $39,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Docusign during the 4th quarter valued at $44,000. 77.64% of the stock is currently owned by institutional investors.

Insider Transactions at Docusign

In other Docusign news, CRO Paula Hansen sold 6,000 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $45.54, for a total transaction of $273,240.00. Following the sale, the executive directly owned 89,972 shares in the company, valued at approximately $4,097,324.88. This trade represents a 6.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Blake Jeffrey Grayson sold 15,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $45.55, for a total transaction of $683,250.00. Following the completion of the sale, the chief financial officer owned 141,429 shares in the company, valued at $6,442,090.95. This represents a 9.59% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 76,695 shares of company stock worth $3,476,002 over the last quarter. Corporate insiders own 0.59% of the company's stock.

Docusign Stock Performance

DOCU stock opened at $50.44 on Friday. The business's 50 day moving average price is $47.83 and its two-hundred day moving average price is $48.89. The company has a market capitalization of $9.63 billion, a price-to-earnings ratio of 32.75, a price-to-earnings-growth ratio of 1.39 and a beta of 0.90. Docusign Inc. has a fifty-two week low of $40.16 and a fifty-two week high of $86.65.

Docusign (NASDAQ:DOCU - Get Free Report) last announced its quarterly earnings data on Thursday, June 4th. The company reported $1.09 EPS for the quarter, beating the consensus estimate of $0.99 by $0.10. Docusign had a return on equity of 17.48% and a net margin of 9.59%.The business had revenue of $830.24 million during the quarter, compared to analyst estimates of $824.71 million. During the same quarter last year, the firm posted $0.90 earnings per share. The company's revenue for the quarter was up 8.7% on a year-over-year basis. Sell-side analysts forecast that Docusign Inc. will post 2.03 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on DOCU. Bank of America initiated coverage on shares of Docusign in a report on Tuesday, March 31st. They issued an "underperform" rating and a $52.00 price objective for the company. Wells Fargo & Company decreased their price target on shares of Docusign from $60.00 to $55.00 and set an "equal weight" rating on the stock in a report on Friday, June 5th. Needham & Company LLC reissued a "hold" rating on shares of Docusign in a report on Friday, June 5th. Wedbush reduced their target price on shares of Docusign from $60.00 to $58.00 and set a "neutral" rating on the stock in a report on Friday, June 5th. Finally, Jefferies Financial Group boosted their price objective on Docusign from $45.00 to $50.00 and gave the company a "hold" rating in a research report on Friday, June 5th. Three equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $60.27.

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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