Fjarde AP Fonden Fourth Swedish National Pension Fund Acquires 3,300 Shares of Docusign Inc. (NASDAQ:DOCU)

Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in Docusign Inc. (NASDAQ:DOCU) by 5.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 64,500 shares of the company’s stock after acquiring an additional 3,300 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Docusign were worth $5,250,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Wealthspire Advisors LLC lifted its holdings in shares of Docusign by 1.9% in the 1st quarter. Wealthspire Advisors LLC now owns 6,579 shares of the company’s stock valued at $536,000 after acquiring an additional 122 shares during the last quarter. Foundry Partners LLC raised its position in Docusign by 1.5% in the 1st quarter. Foundry Partners LLC now owns 8,491 shares of the company’s stock worth $691,000 after purchasing an additional 125 shares during the period. Bessemer Group Inc. raised its position in Docusign by 27.5% in the 1st quarter. Bessemer Group Inc. now owns 602 shares of the company’s stock worth $49,000 after purchasing an additional 130 shares during the period. Kingsview Wealth Management LLC raised its position in Docusign by 5.6% in the 1st quarter. Kingsview Wealth Management LLC now owns 2,655 shares of the company’s stock worth $216,000 after purchasing an additional 141 shares during the period. Finally, TD Waterhouse Canada Inc. raised its position in Docusign by 34.5% in the 4th quarter. TD Waterhouse Canada Inc. now owns 557 shares of the company’s stock worth $50,000 after purchasing an additional 143 shares during the period. Institutional investors own 77.64% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on DOCU. William Blair reissued an “outperform” rating on shares of Docusign in a research report on Monday, April 21st. JPMorgan Chase & Co. reduced their price objective on shares of Docusign from $81.00 to $77.00 and set a “neutral” rating on the stock in a research report on Friday, June 6th. Wedbush reduced their price objective on shares of Docusign from $100.00 to $85.00 and set a “neutral” rating on the stock in a research report on Thursday, June 12th. Wall Street Zen lowered shares of Docusign from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd. Finally, Bank of America reduced their target price on shares of Docusign from $88.00 to $85.00 and set a “neutral” rating on the stock in a research report on Friday, June 6th. Thirteen equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Docusign has an average rating of “Hold” and a consensus price target of $89.77.

Insider Buying and Selling at Docusign

In other news, CFO Blake Jeffrey Grayson sold 15,143 shares of the stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $74.80, for a total transaction of $1,132,696.40. Following the transaction, the chief financial officer directly owned 110,723 shares in the company, valued at approximately $8,282,080.40. This trade represents a 12.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Robert Chatwani sold 22,875 shares of the firm’s stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $74.79, for a total transaction of $1,710,821.25. Following the completion of the sale, the insider owned 72,126 shares of the company’s stock, valued at approximately $5,394,303.54. This trade represents a 24.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 78,552 shares of company stock valued at $5,983,631 in the last ninety days. Company insiders own 1.01% of the company’s stock.

Docusign Stock Performance

NASDAQ DOCU opened at $70.90 on Friday. The firm’s 50 day moving average price is $75.92 and its 200-day moving average price is $81.23. Docusign Inc. has a 52-week low of $54.31 and a 52-week high of $107.86. The company has a market cap of $14.33 billion, a PE ratio of 13.40, a P/E/G ratio of 25.75 and a beta of 1.01.

Docusign (NASDAQ:DOCU) last released its quarterly earnings data on Thursday, June 5th. The company reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.09. Docusign had a net margin of 36.50% and a return on equity of 14.27%. The firm had revenue of $763.65 million for the quarter, compared to the consensus estimate of $748.79 million. During the same period last year, the firm earned $0.82 earnings per share. The company’s quarterly revenue was up 7.6% on a year-over-year basis. On average, analysts forecast that Docusign Inc. will post 1.17 earnings per share for the current fiscal year.

Docusign announced that its Board of Directors has authorized a stock buyback plan on Thursday, June 5th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to repurchase up to 6.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

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.