Jupiter Asset Management Ltd. Sells 230,281 Shares of Docusign Inc. $DOCU

Jupiter Asset Management Ltd. reduced its position in Docusign Inc. (NASDAQ:DOCU) by 19.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 973,967 shares of the company’s stock after selling 230,281 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in Docusign were worth $66,619,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of DOCU. Woodline Partners LP boosted its position in shares of Docusign by 24,412.7% in the third quarter. Woodline Partners LP now owns 958,938 shares of the company’s stock valued at $69,130,000 after acquiring an additional 955,026 shares during the period. Alliancebernstein L.P. increased its position in shares of Docusign by 132.8% in the second quarter. Alliancebernstein L.P. now owns 868,531 shares of the company’s stock worth $67,650,000 after purchasing an additional 495,380 shares during the last quarter. Andra AP fonden bought a new position in shares of Docusign in the third quarter worth approximately $34,956,000. Duquesne Family Office LLC increased its position in shares of Docusign by 30.6% in the third quarter. Duquesne Family Office LLC now owns 1,685,950 shares of the company’s stock worth $121,540,000 after purchasing an additional 395,510 shares during the last quarter. Finally, Danske Bank A S bought a new position in shares of Docusign in the third quarter worth approximately $22,018,000. 77.64% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Robert W. Baird decreased their price objective on shares of Docusign from $75.00 to $55.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 18th. Piper Sandler decreased their price objective on shares of Docusign from $75.00 to $52.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 18th. Royal Bank Of Canada decreased their price objective on shares of Docusign from $70.00 to $55.00 and set a “sector perform” rating on the stock in a research report on Wednesday, March 18th. HSBC set a $53.00 price objective on shares of Docusign in a research report on Friday, February 13th. Finally, Jefferies Financial Group cut shares of Docusign from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $105.00 to $45.00 in a research report on Monday, February 23rd. Three analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $61.40.

Insider Activity

In other Docusign news, CEO Allan C. Thygesen sold 26,250 shares of Docusign stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $47.78, for a total transaction of $1,254,225.00. Following the transaction, the chief executive officer directly owned 152,237 shares of the company’s stock, valued at approximately $7,273,883.86. This trade represents a 14.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider James P. Shaughnessy sold 12,000 shares of Docusign stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $46.83, for a total transaction of $561,960.00. Following the transaction, the insider directly owned 53,631 shares in the company, valued at $2,511,539.73. This trade represents a 18.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 64,309 shares of company stock valued at $3,061,570. Insiders own 0.59% of the company’s stock.

Docusign Stock Performance

DOCU stock opened at $49.58 on Friday. The company has a market capitalization of $9.63 billion, a PE ratio of 33.50, a price-to-earnings-growth ratio of 1.85 and a beta of 0.88. Docusign Inc. has a one year low of $40.16 and a one year high of $94.67. The company’s 50 day moving average price is $47.16 and its two-hundred day moving average price is $54.74.

Docusign (NASDAQ:DOCU) last posted its quarterly earnings results on Tuesday, March 17th. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.95 by $0.06. The firm had revenue of $836.86 million for the quarter, compared to the consensus estimate of $828.23 million. Docusign had a net margin of 9.60% and a return on equity of 16.86%. The business’s revenue was up 7.8% compared to the same quarter last year. During the same period last year, the firm posted $0.86 earnings per share. On average, research analysts predict that Docusign Inc. will post 1.76 EPS for the current year.

Docusign announced that its board has authorized a share repurchase plan 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 shares through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.

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.