Nordea Investment Management AB Sells 39,446 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Nordea Investment Management AB trimmed its holdings in DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 8.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 437,210 shares of the company's stock after selling 39,446 shares during the quarter. Nordea Investment Management AB owned about 0.21% of DocuSign worth $26,132,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in DOCU. Coatue Management LLC acquired a new position in DocuSign in the fourth quarter valued at approximately $288,274,000. Norges Bank acquired a new position in DocuSign in the fourth quarter valued at approximately $133,826,000. International Assets Investment Management LLC boosted its holdings in DocuSign by 4,438.8% in the fourth quarter. International Assets Investment Management LLC now owns 521,912 shares of the company's stock valued at $31,028,000 after purchasing an additional 510,413 shares in the last quarter. Vanguard Group Inc. boosted its holdings in DocuSign by 2.4% in the third quarter. Vanguard Group Inc. now owns 20,982,387 shares of the company's stock valued at $881,260,000 after purchasing an additional 482,472 shares in the last quarter. Finally, Syon Capital LLC boosted its holdings in DocuSign by 450.2% in the fourth quarter. Syon Capital LLC now owns 550,221 shares of the company's stock valued at $32,711,000 after purchasing an additional 450,221 shares in the last quarter. 77.64% of the stock is owned by institutional investors and hedge funds.

DocuSign Stock Performance

NASDAQ:DOCU traded down $1.92 during trading hours on Tuesday, hitting $51.91. The company's stock had a trading volume of 2,142,781 shares, compared to its average volume of 2,949,321. The business's 50-day moving average is $55.35 and its two-hundred day moving average is $56.51. The company has a market capitalization of $10.63 billion, a PE ratio of 99.83, a PEG ratio of 4.53 and a beta of 0.94. DocuSign, Inc. has a 52-week low of $38.11 and a 52-week high of $64.76.

DocuSign (NASDAQ:DOCU - Get Free Report) last released its quarterly earnings data on Thursday, June 6th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.09. The firm had revenue of $709.64 million during the quarter, compared to analysts' expectations of $706.07 million. DocuSign had a return on equity of 15.44% and a net margin of 3.81%. As a group, analysts predict that DocuSign, Inc. will post 0.88 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. UBS Group raised DocuSign from a "sell" rating to a "neutral" rating and increased their price objective for the company from $48.00 to $62.00 in a report on Friday, April 12th. Royal Bank of Canada decreased their price objective on DocuSign from $59.00 to $52.00 and set a "sector perform" rating for the company in a report on Friday, June 7th. Citigroup decreased their price objective on DocuSign from $93.00 to $86.00 and set a "buy" rating for the company in a report on Wednesday, June 5th. Robert W. Baird decreased their price objective on DocuSign from $65.00 to $55.00 and set a "neutral" rating for the company in a report on Friday, June 7th. Finally, Piper Sandler decreased their price objective on DocuSign from $65.00 to $60.00 and set a "neutral" rating for the company in a report on Friday, June 7th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $59.36.

Insider Activity

In other news, CEO Allan C. Thygesen sold 8,086 shares of the firm's stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $56.16, for a total value of $454,109.76. Following the completion of the transaction, the chief executive officer now owns 99,546 shares in the company, valued at $5,590,503.36. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, CFO Blake Jeffrey Grayson sold 49,123 shares of the firm's stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $51.15, for a total value of $2,512,641.45. Following the completion of the transaction, the chief financial officer now owns 70,473 shares in the company, valued at $3,604,693.95. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Allan C. Thygesen sold 8,086 shares of the firm's stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $56.16, for a total value of $454,109.76. Following the completion of the transaction, the chief executive officer now owns 99,546 shares of the company's stock, valued at approximately $5,590,503.36. The disclosure for this sale can be found here. Insiders sold a total of 82,218 shares of company stock worth $4,283,359 over the last 90 days. 1.66% of the stock is currently owned by corporate insiders.

DocuSign Profile

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.