BNP Paribas Financial Markets Acquires 141,724 Shares of Docusign Inc. $DOCU

by · The Markets Daily

BNP Paribas Financial Markets increased its position in shares of Docusign Inc. (NASDAQ:DOCUFree Report) by 89.9% during the 4th quarter, Holdings Channel reports. The firm owned 299,312 shares of the company’s stock after purchasing an additional 141,724 shares during the quarter. BNP Paribas Financial Markets’ holdings in Docusign were worth $20,473,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Central Pacific Bank Trust Division bought a new position in shares of Docusign in the fourth quarter valued at approximately $25,000. Torren Management LLC bought a new stake in Docusign in the fourth quarter worth $28,000. True Wealth Design LLC raised its stake in shares of Docusign by 105.2% in the fourth quarter. True Wealth Design LLC now owns 433 shares of the company’s stock worth $30,000 after purchasing an additional 222 shares during the last quarter. Aventura Private Wealth LLC bought a new stake in shares of Docusign in the fourth quarter worth $30,000. Finally, Cary Street Partners Investment Advisory LLC lifted its position in Docusign by 309.5% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 561 shares of the company’s stock valued at $38,000 after purchasing an additional 424 shares in the last quarter. Institutional investors own 77.64% of the company’s stock.

Docusign Stock Down 7.2%

Shares of DOCU opened at $47.26 on Friday. Docusign Inc. has a 52-week low of $40.16 and a 52-week high of $86.65. The company has a market capitalization of $9.18 billion, a PE ratio of 30.69, a price-to-earnings-growth ratio of 1.94 and a beta of 0.92. The stock has a fifty day simple moving average of $47.76 and a two-hundred day simple moving average of $54.16.

Docusign (NASDAQ:DOCUGet Free Report) last issued its quarterly earnings data on Thursday, June 4th. The company reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.09. The firm had revenue of $830.24 million during the quarter, compared to the consensus estimate of $824.71 million. Docusign had a return on equity of 17.16% and a net margin of 9.59%.The company’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period last year, the company earned $0.90 EPS. As a group, equities analysts anticipate that Docusign Inc. will post 1.76 earnings per share for the current fiscal year.

Docusign announced that its Board of Directors has authorized a stock 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 reacquire up to 21% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Insider Activity at Docusign

In other Docusign news, Director Mary Agnes Wilderotter sold 3,000 shares of the business’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $48.15, for a total value of $144,450.00. Following the completion of the transaction, the director owned 59,803 shares in the company, valued at $2,879,514.45. The trade was a 4.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider James P. Shaughnessy sold 12,000 shares of the stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $46.83, for a total value of $561,960.00. Following the completion of the sale, the insider directly owned 53,631 shares in the company, valued at $2,511,539.73. This represents a 18.28% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 65,489 shares of company stock worth $3,125,814 over the last ninety days. Company insiders own 0.59% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on DOCU. Bank of America began coverage on Docusign in a report on Tuesday, March 31st. They set an “underperform” rating and a $52.00 price target on the stock. Royal Bank Of Canada dropped their target price on shares of Docusign from $70.00 to $55.00 and set a “sector perform” rating on the stock in a research note on Wednesday, March 18th. UBS Group set a $60.00 price target on shares of Docusign in a research report on Friday. BTIG Research reduced their price objective on shares of Docusign from $70.00 to $60.00 and set a “buy” rating for the company in a research note on Friday. Finally, Citigroup boosted their target price on shares of Docusign from $50.00 to $54.00 and gave the stock a “neutral” rating in a research report on Friday. Three analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Docusign presently has a consensus rating of “Hold” and a consensus price target of $60.27.

Read Our Latest Research Report on DOCU

More Docusign News

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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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