Credit Suisse AG Sells 16,426 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Posted by Defense World Staff on Aug 25th, 2023

Credit Suisse AG lessened its holdings in DocuSign, Inc. (NASDAQ:DOCU – Free Report) by 4.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 326,334 shares of the company’s stock after selling 16,426 shares during the period. Credit Suisse AG owned 0.16% of DocuSign worth $19,025,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. J.W. Cole Advisors Inc. bought a new position in DocuSign during the 1st quarter worth $248,000. Tocqueville Asset Management L.P. increased its position in DocuSign by 50.4% during the 4th quarter. Tocqueville Asset Management L.P. now owns 279,870 shares of the company’s stock worth $15,510,000 after buying an additional 93,800 shares during the period. AustralianSuper Pty Ltd increased its position in DocuSign by 34.6% during the 1st quarter. AustralianSuper Pty Ltd now owns 288,739 shares of the company’s stock worth $16,833,000 after buying an additional 74,247 shares during the period. Prime Capital Investment Advisors LLC bought a new position in DocuSign during the 1st quarter worth $357,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in DocuSign by 0.4% during the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 89,854 shares of the company’s stock worth $5,238,000 after buying an additional 322 shares during the period. Institutional investors own 76.03% of the company’s stock.

Wall Street Analysts Forecast Growth

DOCU has been the topic of several analyst reports. JPMorgan Chase & Co. increased their target price on DocuSign from $48.00 to $50.00 in a report on Friday, June 9th. Wedbush increased their target price on DocuSign from $60.00 to $67.00 in a report on Friday, June 9th. 22nd Century Group reissued a “maintains” rating on shares of DocuSign in a report on Friday, June 9th. Piper Sandler increased their target price on DocuSign from $60.00 to $61.00 in a report on Friday, June 9th. Finally, UBS Group reduced their target price on DocuSign from $52.00 to $45.00 in a report on Wednesday, May 31st. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $62.93.

Check Out Our Latest Analysis on DocuSign

Insider Transactions at DocuSign

In other DocuSign news, Director Enrique T. Salem sold 2,500 shares of DocuSign stock in a transaction that occurred on Friday, July 7th. The stock was sold at an average price of $50.02, for a total value of $125,050.00. Following the completion of the sale, the director now directly owns 156,140 shares in the company, valued at $7,810,122.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other DocuSign news, Director Enrique T. Salem sold 2,500 shares of DocuSign stock in a transaction that occurred on Friday, July 7th. The stock was sold at an average price of $50.02, for a total value of $125,050.00. Following the completion of the sale, the director now directly owns 156,140 shares in the company, valued at $7,810,122.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Stephen Shute sold 100,315 shares of DocuSign stock in a transaction that occurred on Thursday, July 6th. The stock was sold at an average price of $49.20, for a total value of $4,935,498.00. The disclosure for this sale can be found here. 17.80% of the stock is owned by corporate insiders.

DocuSign Trading Down 3.1 %

DocuSign stock opened at $46.69 on Friday. The company has a market capitalization of $9.45 billion, a PE ratio of -133.40, a P/E/G ratio of 10.75 and a beta of 0.91. DocuSign, Inc. has a 12 month low of $39.57 and a 12 month high of $69.45. The stock has a 50-day moving average price of $51.09 and a two-hundred day moving average price of $54.53.

DocuSign (NASDAQ:DOCU – Get Free Report) last issued its quarterly earnings data on Thursday, June 8th. The company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.16. DocuSign had a positive return on equity of 3.70% and a negative net margin of 2.69%. The company had revenue of $661.39 million during the quarter, compared to the consensus estimate of $641.69 million. During the same period last year, the company earned ($0.12) earnings per share. The firm’s revenue was up 12.3% compared to the same quarter last year. As a group, analysts predict that DocuSign, Inc. will post 0.34 earnings per share for the current fiscal year.

DocuSign Company Profile

(Free Report)

DocuSign, Inc provides electronic signature solution in the United States and internationally. The company provides DocuSign 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; and Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce.