Capital World Investors Increases Holdings in Docusign Inc. $DOCU

Capital World Investors lifted its position in shares of Docusign Inc. (NASDAQ:DOCU) by 38.1% in the 4th quarter, Holdings Channel reports. The fund owned 5,815,804 shares of the company’s stock after buying an additional 1,603,900 shares during the quarter. Capital World Investors’ holdings in Docusign were worth $397,801,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Nordea Investment Management AB grew its stake in shares of Docusign by 3.8% during the 4th quarter. Nordea Investment Management AB now owns 1,198,634 shares of the company’s stock worth $82,502,000 after acquiring an additional 43,810 shares during the period. Step Capital Management Pte. Ltd. bought a new position in shares of Docusign during the 4th quarter worth $2,052,000. Retirement Systems of Alabama grew its stake in shares of Docusign by 4.9% during the 4th quarter. Retirement Systems of Alabama now owns 544,473 shares of the company’s stock worth $37,242,000 after acquiring an additional 25,367 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of Docusign by 11.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 312,859 shares of the company’s stock worth $22,554,000 after acquiring an additional 31,334 shares during the period. Finally, South Dakota Investment Council grew its stake in shares of Docusign by 140.6% during the 3rd quarter. South Dakota Investment Council now owns 53,373 shares of the company’s stock worth $3,848,000 after acquiring an additional 31,192 shares during the period. Institutional investors own 77.64% of the company’s stock.

Insider Transactions at Docusign

In other Docusign news, insider Robert Chatwani sold 16,696 shares of the firm’s stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $48.10, for a total value of $803,077.60. Following the sale, the insider owned 72,458 shares of the company’s stock, valued at $3,485,229.80. This trade represents a 18.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider James P. Shaughnessy sold 12,000 shares of the firm’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $46.83, for a total value of $561,960.00. Following the completion of the sale, the insider directly owned 53,631 shares in the company, valued at approximately $2,511,539.73. The trade was a 18.28% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 65,489 shares of company stock worth $3,125,814. 0.59% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Jefferies Financial Group increased their price target on Docusign from $45.00 to $50.00 and gave the stock a “hold” rating in a research note on Friday. HSBC set a $53.00 price target on Docusign in a research note on Friday, February 13th. Citigroup increased their price target on Docusign from $50.00 to $54.00 and gave the stock a “neutral” rating in a research note on Friday. BTIG Research cut their price target on Docusign from $70.00 to $60.00 and set a “buy” rating for the company in a research note on Friday. Finally, Citizens Jmp cut their target price on Docusign from $124.00 to $86.00 and set a “market outperform” rating for the company in a research note on Wednesday, March 18th. Three analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Docusign has a consensus rating of “Hold” and a consensus price target of $60.27.

Docusign Stock Down 2.3%

Shares of NASDAQ DOCU opened at $46.16 on Tuesday. Docusign Inc. has a 52 week low of $40.16 and a 52 week high of $86.65. The business has a 50-day simple moving average of $47.74 and a two-hundred day simple moving average of $53.95. The company has a market cap of $8.97 billion, a P/E ratio of 29.97, a P/E/G ratio of 1.80 and a beta of 0.92.

Docusign (NASDAQ:DOCU) last issued its earnings results on Thursday, June 4th. The company reported $1.09 EPS for the quarter, topping 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 the consensus estimate of $824.71 million. During the same quarter last year, the company earned $0.90 EPS. The firm’s revenue was up 8.7% compared to the same quarter last year. Equities research analysts anticipate that Docusign Inc. will post 1.76 EPS for the current year.

Docusign announced that its board has authorized a stock repurchase plan on Tuesday, March 17th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 21% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

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.