Assenagon Asset Management S.A. Purchases 116,350 Shares of Docusign Inc. $DOCU

Assenagon Asset Management S.A. grew its position in shares of Docusign Inc. (NASDAQ:DOCUFree Report) by 20.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 674,047 shares of the company’s stock after purchasing an additional 116,350 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.34% of Docusign worth $46,105,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Central Pacific Bank Trust Division acquired a new stake in Docusign during the 4th quarter worth approximately $25,000. True Wealth Design LLC increased its position in Docusign by 105.2% in the 4th quarter. True Wealth Design LLC now owns 433 shares of the company’s stock valued at $30,000 after acquiring an additional 222 shares during the period. Aventura Private Wealth LLC bought a new position in shares of Docusign during the fourth quarter valued at $30,000. Twin Peaks Wealth Advisors LLC bought a new position in shares of Docusign during the second quarter valued at $43,000. Finally, SJS Investment Consulting Inc. lifted its holdings in shares of Docusign by 5,318.2% during the third quarter. SJS Investment Consulting Inc. now owns 596 shares of the company’s stock worth $43,000 after purchasing an additional 585 shares during the period. 77.64% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on DOCU shares. Evercore decreased their price objective on Docusign from $92.00 to $80.00 and set an “in-line” rating for the company in a report on Friday, December 5th. Bank of America cut their target price on Docusign from $102.00 to $82.00 and set a “neutral” rating on the stock in a report on Friday, December 5th. Wells Fargo & Company reduced their price target on Docusign from $75.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 18th. Jefferies Financial Group cut Docusign from a “buy” rating to a “hold” rating and decreased their price target for the company from $105.00 to $45.00 in a research note on Monday, February 23rd. Finally, JPMorgan Chase & Co. lowered their price objective on Docusign from $78.00 to $65.00 and set a “neutral” rating for the company in a research report on Wednesday, March 18th. Five research analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $66.67.

Check Out Our Latest Stock Analysis on Docusign

Insider Transactions at Docusign

In related news, insider James P. Shaughnessy sold 12,000 shares of the firm’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $67.03, for a total transaction of $804,360.00. Following the completion of the sale, the insider owned 54,550 shares of the company’s stock, valued at $3,656,486.50. This trade represents a 18.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Blake Jeffrey Grayson sold 6,500 shares of Docusign stock in a transaction that occurred on Friday, January 9th. The stock was sold at an average price of $70.00, for a total value of $455,000.00. Following the completion of the sale, the chief financial officer owned 111,713 shares of the company’s stock, valued at approximately $7,819,910. The trade was a 5.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 68,173 shares of company stock worth $4,324,684. Corporate insiders own 1.66% of the company’s stock.

Docusign Stock Down 5.4%

Shares of NASDAQ DOCU opened at $46.16 on Wednesday. The company has a market capitalization of $8.97 billion, a PE ratio of 31.19, a P/E/G ratio of 2.00 and a beta of 1.03. Docusign Inc. has a twelve month low of $40.16 and a twelve month high of $94.67. The firm has a fifty day simple moving average of $49.06 and a 200 day simple moving average of $63.45.

Docusign (NASDAQ:DOCUGet Free Report) last issued its quarterly earnings results on Tuesday, March 17th. The company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.06. The business had revenue of $836.86 million for the quarter, compared to analysts’ expectations of $828.23 million. Docusign had a net margin of 9.60% and a return on equity of 16.86%. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.86 earnings per share. As a group, equities analysts expect that Docusign Inc. will post 1.17 earnings per share for the current fiscal year.

Docusign declared that its board has initiated a share repurchase program on Tuesday, March 17th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 21% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Docusign News Summary

Here are the key news stories impacting Docusign this week:

Docusign Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Docusign (NASDAQ:DOCU)

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