Swiss National Bank Trims Holdings in DocuSign, Inc. (NASDAQ:DOCU)

Swiss National Bank cut its position in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 2.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 635,400 shares of the company's stock after selling 15,600 shares during the period. Swiss National Bank owned approximately 0.31% of DocuSign worth $37,775,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of DOCU. Capital Analysts LLC increased its position in shares of DocuSign by 781.7% during the fourth quarter. Capital Analysts LLC now owns 529 shares of the company's stock valued at $31,000 after acquiring an additional 469 shares during the last quarter. McGlone Suttner Wealth Management Inc. acquired a new position in DocuSign during the fourth quarter worth $32,000. Performa Ltd US LLC boosted its position in shares of DocuSign by 50.0% during the third quarter. Performa Ltd US LLC now owns 825 shares of the company's stock worth $35,000 after buying an additional 275 shares during the period. Whittier Trust Co. grew its stake in shares of DocuSign by 28.8% in the fourth quarter. Whittier Trust Co. now owns 935 shares of the company's stock valued at $56,000 after buying an additional 209 shares in the last quarter. Finally, Desjardins Global Asset Management Inc. raised its holdings in shares of DocuSign by 60.5% in the 4th quarter. Desjardins Global Asset Management Inc. now owns 966 shares of the company's stock valued at $57,000 after buying an additional 364 shares during the period. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

DOCU has been the subject of a number of research analyst reports. UBS Group upgraded DocuSign from a "sell" rating to a "neutral" rating and raised their target price for the company from $48.00 to $62.00 in a report on Friday, April 12th. Needham & Company LLC reaffirmed a "hold" rating on shares of DocuSign in a research note on Friday, April 12th. JMP Securities reissued a "market outperform" rating and issued a $84.00 price target on shares of DocuSign in a research report on Friday, April 12th. Wells Fargo & Company cut their price objective on DocuSign from $55.00 to $45.00 and set an "underweight" rating on the stock in a research report on Monday, February 5th. Finally, Royal Bank of Canada reissued a "sector perform" rating and set a $59.00 target price on shares of DocuSign in a research note on Friday, April 12th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $60.25.

DocuSign Price Performance

Shares of NASDAQ DOCU traded down $0.80 on Wednesday, hitting $57.51. The company's stock had a trading volume of 1,288,911 shares, compared to its average volume of 3,079,612. The stock has a 50 day moving average of $57.61 and a 200-day moving average of $53.66. The company has a market capitalization of $11.81 billion, a price-to-earnings ratio of 159.75, a price-to-earnings-growth ratio of 5.17 and a beta of 0.88. DocuSign, Inc. has a 12-month low of $38.11 and a 12-month high of $64.76.

DocuSign (NASDAQ:DOCU - Get Free Report) last posted its earnings results on Thursday, March 7th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.09 by $0.06. DocuSign had a return on equity of 13.91% and a net margin of 2.68%. The firm had revenue of $712.39 million for the quarter, compared to analyst estimates of $698.05 million. Sell-side analysts expect that DocuSign, Inc. will post 0.87 EPS for the current fiscal year.

Insider Buying and Selling at DocuSign

In other DocuSign news, insider Stephen Shute sold 15,109 shares of the stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $57.02, for a total transaction of $861,515.18. Following the transaction, the insider now owns 8,959 shares of the company's stock, valued at approximately $510,842.18. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other DocuSign news, Director Peter Solvik sold 15,000 shares of DocuSign stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $60.00, for a total value of $900,000.00. Following the completion of the transaction, the director now directly owns 783 shares in the company, valued at $46,980. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Stephen Shute sold 15,109 shares of the stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $57.02, for a total value of $861,515.18. Following the sale, the insider now owns 8,959 shares in the company, valued at $510,842.18. The disclosure for this sale can be found here. Insiders have sold 55,277 shares of company stock worth $3,159,756 in the last ninety days. 1.66% of the stock is owned by insiders.

About DocuSign

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.