National Pension Service Has $4.23 Million Stock Holdings in Docusign Inc. $DOCU

National Pension Service lifted its holdings in Docusign Inc. (NASDAQ:DOCU) by 184.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 61,797 shares of the company’s stock after buying an additional 40,072 shares during the quarter. National Pension Service’s holdings in Docusign were worth $4,227,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of DOCU. Woodline Partners LP grew its position in shares of Docusign by 24,412.7% in the 3rd quarter. Woodline Partners LP now owns 958,938 shares of the company’s stock valued at $69,130,000 after purchasing an additional 955,026 shares during the period. Alliancebernstein L.P. grew its position in shares of Docusign by 132.8% in the 2nd quarter. Alliancebernstein L.P. now owns 868,531 shares of the company’s stock valued at $67,650,000 after purchasing an additional 495,380 shares during the period. Andra AP fonden acquired a new position in shares of Docusign in the 3rd quarter valued at approximately $34,956,000. Duquesne Family Office LLC grew its position in shares of Docusign by 30.6% in the 3rd quarter. Duquesne Family Office LLC now owns 1,685,950 shares of the company’s stock valued at $121,540,000 after purchasing an additional 395,510 shares during the period. Finally, Danske Bank A S acquired a new position in shares of Docusign in the 3rd quarter valued at approximately $22,018,000. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Docusign

In other news, CRO Paula Hansen sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $46.84, for a total transaction of $281,040.00. Following the sale, the executive owned 79,233 shares in the company, valued at $3,711,273.72. This represents a 7.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robert Chatwani sold 16,696 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at approximately $3,485,229.80. This represents a 18.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 64,309 shares of company stock worth $3,061,570. Insiders own 0.59% of the company’s stock.

Docusign Stock Up 8.6%

Shares of Docusign stock opened at $57.02 on Tuesday. Docusign Inc. has a 12-month low of $40.16 and a 12-month high of $94.67. The stock has a market cap of $11.08 billion, a P/E ratio of 38.53, a P/E/G ratio of 2.01 and a beta of 0.88. The business’s 50 day moving average is $47.41 and its 200-day moving average is $54.53.

Docusign (NASDAQ:DOCU) last announced its quarterly earnings data on Tuesday, March 17th. The company reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.06. Docusign had a return on equity of 16.86% and a net margin of 9.60%.The company had revenue of $836.86 million for the quarter, compared to analysts’ expectations of $828.23 million. During the same quarter in the prior year, the business posted $0.86 EPS. The business’s revenue was up 7.8% compared to the same quarter last year. On average, sell-side analysts expect that Docusign Inc. will post 1.75 EPS for the current year.

Docusign announced that its board has authorized a share 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 buy up to 21% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Citigroup cut Docusign from a “buy” rating to a “neutral” rating and cut their target price for the company from $99.00 to $50.00 in a research note on Friday, April 10th. Piper Sandler cut their target price on Docusign from $75.00 to $52.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 18th. HSBC set a $53.00 target price on Docusign in a research note on Friday, February 13th. BTIG Research restated a “buy” rating and issued a $70.00 target price on shares of Docusign in a research note on Wednesday, March 18th. Finally, Morgan Stanley cut their target price on Docusign from $90.00 to $69.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 18th. Three investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus 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.