KBC Group NV Sells 19,370 Shares of Docusign Inc. $DOCU

KBC Group NV lessened its holdings in shares of Docusign Inc. (NASDAQ:DOCU) by 65.7% in the first quarter, according to its most recent filing with the SEC. The firm owned 10,124 shares of the company’s stock after selling 19,370 shares during the period. KBC Group NV’s holdings in Docusign were worth $480,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in DOCU. Modus Advisors LLC acquired a new position in shares of Docusign in the 4th quarter valued at $27,000. Torren Management LLC bought a new stake in Docusign in the fourth quarter valued at about $28,000. Cary Street Partners Investment Advisory LLC lifted its stake in Docusign by 309.5% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 561 shares of the company’s stock valued at $38,000 after buying an additional 424 shares during the period. Basepoint Wealth LLC bought a new position in Docusign during the fourth quarter worth about $39,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Docusign during the 4th quarter worth about $44,000. Institutional investors own 77.64% of the company’s stock.

Wall Street Analyst Weigh In

DOCU has been the topic of a number of analyst reports. Wells Fargo & Company cut their price target on shares of Docusign from $60.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Friday, June 5th. Weiss Ratings upgraded shares of Docusign from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, July 14th. Citigroup increased their target price on shares of Docusign from $50.00 to $54.00 and gave the stock a “neutral” rating in a report on Friday, June 5th. UBS Group set a $60.00 price target on shares of Docusign in a research report on Friday, June 5th. Finally, Jefferies Financial Group boosted their price target on shares of Docusign from $45.00 to $50.00 and gave the company a “hold” rating in a report on Friday, June 5th. Three analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Docusign has a consensus rating of “Hold” and a consensus price target of $60.27.

Insider Buying and Selling

In other news, insider James P. Shaughnessy sold 12,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $45.54, for a total value of $546,480.00. Following the completion of the transaction, the insider owned 52,815 shares in the company, valued at $2,405,195.10. This represents a 18.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Allan C. Thygesen sold 26,250 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $46.02, for a total transaction of $1,208,025.00. Following the sale, the chief executive officer directly owned 159,038 shares of the company’s stock, valued at $7,318,928.76. This represents a 14.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 76,695 shares of company stock valued at $3,476,002. 0.59% of the stock is owned by corporate insiders.

Docusign Price Performance

NASDAQ:DOCU opened at $50.44 on Friday. The business’s 50-day simple moving average is $47.83 and its 200-day simple moving average is $48.89. Docusign Inc. has a fifty-two week low of $40.16 and a fifty-two week high of $86.65. The stock has a market capitalization of $9.63 billion, a PE ratio of 32.75, a price-to-earnings-growth ratio of 1.49 and a beta of 0.90.

Docusign (NASDAQ:DOCU) last posted its earnings results on Thursday, June 4th. The company reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.10. The business had revenue of $830.24 million during the quarter, compared to analysts’ expectations of $824.71 million. Docusign had a return on equity of 17.48% and a net margin of 9.59%.Docusign’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.90 EPS. On average, research analysts expect that Docusign Inc. will post 2.03 earnings per share for the current year.

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.