Swiss National Bank Sells 34,700 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Swiss National Bank trimmed its holdings in DocuSign, Inc. (NASDAQ:DOCU) by 5.7% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 573,400 shares of the company’s stock after selling 34,700 shares during the quarter. Swiss National Bank’s holdings in DocuSign were worth $51,572,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Amundi increased its holdings in DocuSign by 565.8% in the 4th quarter. Amundi now owns 1,379,575 shares of the company’s stock worth $123,486,000 after acquiring an additional 1,172,368 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of DocuSign by 61.5% during the 4th quarter. Bank of New York Mellon Corp now owns 1,673,612 shares of the company’s stock worth $150,525,000 after acquiring an additional 637,505 shares in the last quarter. Fiera Capital Corp bought a new position in DocuSign during the fourth quarter valued at $47,920,000. Principal Financial Group Inc. grew its position in DocuSign by 3,026.7% in the fourth quarter. Principal Financial Group Inc. now owns 546,796 shares of the company’s stock worth $49,179,000 after acquiring an additional 529,308 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of DocuSign by 42.4% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,459,580 shares of the company’s stock worth $90,625,000 after purchasing an additional 434,312 shares during the period. 77.64% of the stock is currently owned by institutional investors.

DocuSign Stock Up 14.8 %

Shares of NASDAQ:DOCU opened at $85.76 on Friday. DocuSign, Inc. has a fifty-two week low of $48.70 and a fifty-two week high of $107.86. The firm’s 50-day simple moving average is $87.97 and its 200-day simple moving average is $79.37. The company has a market cap of $17.33 billion, a price-to-earnings ratio of 17.68, a PEG ratio of 6.94 and a beta of 1.02.

DocuSign (NASDAQ:DOCU) last issued its quarterly earnings data on Thursday, March 13th. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.02. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The firm had revenue of $776.25 million during the quarter, compared to analysts’ expectations of $760.94 million. During the same period in the previous year, the firm posted $0.76 earnings per share. DocuSign’s revenue was up 9.0% on a year-over-year basis. On average, research analysts forecast that DocuSign, Inc. will post 1.17 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have commented on DOCU shares. Piper Sandler upped their price objective on DocuSign from $60.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. JPMorgan Chase & Co. raised DocuSign from an “underweight” rating to a “neutral” rating and boosted their price target for the stock from $70.00 to $75.00 in a research report on Monday, March 10th. Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a research report on Friday. Morgan Stanley lifted their target price on shares of DocuSign from $62.00 to $97.00 and gave the stock an “equal weight” rating in a research note on Friday, December 6th. Finally, HSBC reissued a “reduce” rating on shares of DocuSign in a report on Friday, December 6th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $95.58.

Insider Activity at DocuSign

In related news, CFO Blake Jeffrey Grayson sold 15,588 shares of the business’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $97.78, for a total value of $1,524,194.64. Following the transaction, the chief financial officer now owns 85,851 shares in the company, valued at approximately $8,394,510.78. The trade was a 15.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Allan C. Thygesen sold 40,000 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $90.04, for a total transaction of $3,601,600.00. Following the transaction, the chief executive officer now directly owns 156,050 shares in the company, valued at $14,050,742. The trade was a 20.40 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 104,422 shares of company stock worth $9,665,394. 1.66% of the stock is currently owned by insiders.

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.