Zurcher Kantonalbank Zurich Cantonalbank Buys 42,931 Shares of Docusign Inc. $DOCU

Key Points

• Zurcher Kantonalbank increased its stake in DocuSign by 37.5%, adding 42,931 shares to hold 157,275 shares worth about $10.76 million (roughly 0.08% of the company).
• Company insiders have been net sellers recently — including a 16,696-share sale by Robert Chatwani and a 3,000-share sale by director Mary Agnes Wilderotter — with insiders selling 64,673 shares (~$3.08 million) over the last 90 days.
• DocuSign beat quarterly expectations (EPS $1.01 vs. $0.95) and authorized a $2.00 billion share buyback (up to 21% of shares), though analyst consensus remains a "Hold" with a $61.40 target.

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Docusign Inc. (NASDAQ:DOCU - Free Report) by 37.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 157,275 shares of the company's stock after acquiring an additional 42,931 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned 0.08% of Docusign worth $10,758,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC raised its holdings in Docusign by 15.1% in the third quarter. EverSource Wealth Advisors LLC now owns 1,229 shares of the company's stock worth $89,000 after buying an additional 161 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in Docusign by 8.2% in the second quarter. Smartleaf Asset Management LLC now owns 2,169 shares of the company's stock worth $166,000 after buying an additional 165 shares during the last quarter. Americana Partners LLC raised its holdings in Docusign by 3.3% in the third quarter. Americana Partners LLC now owns 5,467 shares of the company's stock worth $394,000 after buying an additional 176 shares during the last quarter. Centaurus Financial Inc. raised its holdings in Docusign by 3.4% in the third quarter. Centaurus Financial Inc. now owns 5,582 shares of the company's stock worth $402,000 after buying an additional 184 shares during the last quarter. Finally, MGO One Seven LLC raised its holdings in Docusign by 5.5% in the third quarter. MGO One Seven LLC now owns 3,537 shares of the company's stock worth $255,000 after buying an additional 185 shares during the last quarter. 77.64% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Mary Agnes Wilderotter sold 3,000 shares of the business's stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $48.15, for a total transaction of $144,450.00. Following the completion of the sale, the director owned 59,803 shares of the company's stock, valued at $2,879,514.45. The trade was a 4.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Robert Chatwani sold 16,696 shares of the business's stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $48.10, for a total transaction of $803,077.60. Following the sale, the insider directly owned 72,458 shares of the company's stock, valued at approximately $3,485,229.80. The trade was a 18.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 64,673 shares of company stock worth $3,077,699. Company insiders own 1.01% of the company's stock.

Docusign Stock Down 5.3%

NASDAQ DOCU opened at $45.02 on Friday. Docusign Inc. has a 52 week low of $40.16 and a 52 week high of $94.67. The firm has a market capitalization of $8.75 billion, a P/E ratio of 30.42, a PEG ratio of 1.81 and a beta of 0.99. The company has a 50-day moving average price of $46.40 and a 200-day moving average price of $58.60.

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

Docusign declared that its board has authorized a share buyback plan on Tuesday, March 17th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 21% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

Several brokerages have issued reports on DOCU. BTIG Research reaffirmed a "buy" rating and issued a $70.00 target price on shares of Docusign in a report on Wednesday, March 18th. JPMorgan Chase & Co. reduced their target price on Docusign from $78.00 to $65.00 and set a "neutral" rating for the company in a report on Wednesday, March 18th. HSBC set a $53.00 target price on Docusign in a report on Friday, February 13th. Jefferies Financial Group lowered Docusign from a "buy" rating to a "hold" rating and reduced their target price for the stock from $105.00 to $45.00 in a report on Monday, February 23rd. Finally, Morgan Stanley reduced their target price on Docusign from $90.00 to $69.00 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 given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price 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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