Swiss National Bank Reduces Stake in DocuSign, Inc. (NASDAQ:DOCU)

Swiss National Bank trimmed its position in shares of DocuSign, Inc. (NASDAQ:DOCU) by 2.4% during the fourth quarter, Holdings Channel reports. The firm owned 635,400 shares of the company’s stock after selling 15,600 shares during the quarter. Swiss National Bank’s holdings in DocuSign were worth $37,775,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of DOCU. Vanguard Group Inc. boosted its position in shares of DocuSign by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 20,982,387 shares of the company’s stock worth $881,260,000 after buying an additional 482,472 shares in the last quarter. AQR Capital Management LLC grew its position in shares of DocuSign by 147.4% in the third quarter. AQR Capital Management LLC now owns 1,908,500 shares of the company’s stock valued at $80,157,000 after purchasing an additional 1,136,948 shares during the last quarter. Jupiter Asset Management Ltd. increased its stake in shares of DocuSign by 166.4% during the 3rd quarter. Jupiter Asset Management Ltd. now owns 1,344,703 shares of the company’s stock worth $56,478,000 after purchasing an additional 839,883 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of DocuSign by 77.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,215,650 shares of the company’s stock worth $51,057,000 after purchasing an additional 531,682 shares during the last quarter. Finally, Armistice Capital LLC lifted its stake in DocuSign by 18.8% in the 3rd quarter. Armistice Capital LLC now owns 703,147 shares of the company’s stock valued at $29,532,000 after buying an additional 111,147 shares in the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.

DocuSign Price Performance

DocuSign stock opened at $58.31 on Wednesday. DocuSign, Inc. has a 12-month low of $38.11 and a 12-month high of $64.76. The company has a market capitalization of $11.98 billion, a price-to-earnings ratio of 161.98, a price-to-earnings-growth ratio of 5.17 and a beta of 0.88. The firm’s fifty day moving average price is $57.51 and its 200 day moving average price is $53.63.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings data on Thursday, March 7th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.06. The company had revenue of $712.39 million for the quarter, compared to the consensus estimate of $698.05 million. DocuSign had a return on equity of 13.91% and a net margin of 2.68%. Analysts forecast that DocuSign, Inc. will post 0.87 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Insider Transactions at DocuSign

In related news, CEO Allan C. Thygesen sold 8,086 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $56.16, for a total value of $454,109.76. Following the completion of the sale, the chief executive officer now directly owns 99,546 shares of the company’s stock, valued at $5,590,503.36. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Teresa Briggs sold 499 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $52.99, for a total transaction of $26,442.01. Following the sale, the director now owns 6,169 shares in the company, valued at $326,895.31. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Allan C. Thygesen sold 8,086 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $56.16, for a total value of $454,109.76. Following the transaction, the chief executive officer now directly owns 99,546 shares of the company’s stock, valued at $5,590,503.36. The disclosure for this sale can be found here. In the last 90 days, insiders sold 55,277 shares of company stock valued at $3,159,756. Insiders own 1.66% of the company’s stock.

DocuSign Company Profile

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.