Baker Avenue Asset Management LP Decreases Stock Holdings in Docusign Inc. $DOCU

Baker Avenue Asset Management LP trimmed its stake in shares of Docusign Inc. (NASDAQ:DOCU) by 46.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,823 shares of the company’s stock after selling 11,248 shares during the period. Baker Avenue Asset Management LP’s holdings in Docusign were worth $877,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC grew its position in Docusign by 15.1% during the third quarter. EverSource Wealth Advisors LLC now owns 1,229 shares of the company’s stock valued at $89,000 after buying an additional 161 shares during the period. Smartleaf Asset Management LLC boosted its position in shares of 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 purchasing an additional 165 shares during the period. Centaurus Financial Inc. boosted its position in shares of 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 purchasing an additional 184 shares during the period. Clearstead Advisors LLC boosted its position in shares of Docusign by 12.1% in the third quarter. Clearstead Advisors LLC now owns 1,872 shares of the company’s stock worth $135,000 after purchasing an additional 202 shares during the period. Finally, Linden Thomas Advisory Services LLC boosted its position in shares of Docusign by 1.6% in the third quarter. Linden Thomas Advisory Services LLC now owns 14,198 shares of the company’s stock worth $1,024,000 after purchasing an additional 220 shares during the period. 77.64% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Docusign

In other news, CRO Paula Hansen sold 6,000 shares of the business’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $46.84, for a total transaction of $281,040.00. Following the completion of the transaction, the executive directly owned 79,233 shares of the company’s stock, valued at approximately $3,711,273.72. The trade was a 7.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mary Agnes Wilderotter sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $48.15, for a total value of $144,450.00. Following the completion of the transaction, the director directly owned 59,803 shares of the company’s stock, valued at $2,879,514.45. This trade represents a 4.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 64,309 shares of company stock worth $3,061,570. Corporate insiders own 0.59% of the company’s stock.

Docusign Price Performance

Shares of Docusign stock opened at $52.52 on Friday. Docusign Inc. has a 1 year low of $40.16 and a 1 year high of $94.67. The firm’s 50-day moving average is $47.23 and its two-hundred day moving average is $54.72. The stock has a market cap of $10.20 billion, a price-to-earnings ratio of 35.49, a PEG ratio of 1.89 and a beta of 0.88.

Docusign (NASDAQ:DOCU) last announced its quarterly earnings data on Tuesday, March 17th. The company reported $1.01 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $828.23 million. During the same period last year, the firm posted $0.86 EPS. Docusign’s revenue was up 7.8% on a year-over-year basis. On average, equities analysts expect that Docusign Inc. will post 1.76 earnings per share for the current year.

Docusign announced that its board has approved a stock buyback program on Tuesday, March 17th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 21% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. BTIG Research reissued a “buy” rating and issued a $70.00 target price on shares of Docusign in a report on Wednesday, March 18th. Piper Sandler lowered their target price on shares of Docusign from $75.00 to $52.00 and set a “neutral” rating on the stock in a report on Wednesday, March 18th. Wells Fargo & Company lowered their target price on shares of Docusign from $75.00 to $60.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 18th. UBS Group lowered their target price on shares of Docusign from $75.00 to $54.00 and set a “neutral” rating on the stock in a report on Wednesday, March 18th. Finally, Robert W. Baird lowered their target price on shares of Docusign from $75.00 to $55.00 and set a “neutral” rating on the stock in a report on Wednesday, March 18th. Three research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $61.40.

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.