Pictet Asset Management Holding SA Increases Stock Holdings in DocuSign, Inc. (NASDAQ:DOCU)

Pictet Asset Management Holding SA increased its stake in shares of DocuSign, Inc. (NASDAQ:DOCU) by 41.4% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 118,551 shares of the company’s stock after acquiring an additional 34,688 shares during the period. Pictet Asset Management Holding SA owned approximately 0.06% of DocuSign worth $10,662,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Citizens Financial Group Inc. RI increased its position in shares of DocuSign by 2.3% during the fourth quarter. Citizens Financial Group Inc. RI now owns 5,990 shares of the company’s stock worth $539,000 after acquiring an additional 133 shares during the last quarter. Rakuten Securities Inc. increased its holdings in DocuSign by 20.9% during the 4th quarter. Rakuten Securities Inc. now owns 797 shares of the company’s stock worth $72,000 after purchasing an additional 138 shares during the last quarter. Synergy Financial Group LTD raised its position in shares of DocuSign by 3.4% in the 4th quarter. Synergy Financial Group LTD now owns 4,241 shares of the company’s stock valued at $381,000 after purchasing an additional 140 shares in the last quarter. M&T Bank Corp grew its position in shares of DocuSign by 1.3% during the fourth quarter. M&T Bank Corp now owns 10,840 shares of the company’s stock worth $975,000 after buying an additional 143 shares in the last quarter. Finally, Avior Wealth Management LLC increased its stake in shares of DocuSign by 36.5% in the fourth quarter. Avior Wealth Management LLC now owns 542 shares of the company’s stock worth $49,000 after buying an additional 145 shares during the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. HSBC reissued a “reduce” rating on shares of DocuSign in a report on Friday, December 6th. Robert W. Baird set a $93.00 price objective on DocuSign in a report on Friday, March 14th. Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a research report on Friday, March 14th. Jefferies Financial Group lowered their price target on DocuSign from $115.00 to $105.00 and set a “buy” rating for the company in a report on Monday. Finally, Morgan Stanley increased their target price on shares of DocuSign from $62.00 to $97.00 and gave the stock an “equal weight” rating in a report on Friday, December 6th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $95.83.

DocuSign Trading Up 0.9 %

DOCU stock opened at $83.40 on Thursday. The firm’s 50-day moving average is $86.67 and its two-hundred day moving average is $81.91. The company has a market capitalization of $16.89 billion, a price-to-earnings ratio of 17.20, a price-to-earnings-growth ratio of 6.94 and a beta of 1.02. DocuSign, Inc. has a 52 week low of $48.70 and a 52 week high of $107.86.

DocuSign (NASDAQ:DOCU) last released its earnings results on Thursday, March 13th. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.02. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The firm had revenue of $776.25 million during the quarter, compared to the consensus estimate of $760.94 million. During the same period in the prior year, the firm posted $0.76 earnings per share. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. On average, equities research analysts predict that DocuSign, Inc. will post 1.17 earnings per share for the current year.

Insider Activity at DocuSign

In other news, insider James P. Shaughnessy sold 7,500 shares of DocuSign stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $81.31, for a total value of $609,825.00. Following the transaction, the insider now owns 45,875 shares of the company’s stock, valued at $3,730,096.25. The trade was a 14.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Blake Jeffrey Grayson sold 8,000 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $86.90, for a total transaction of $695,200.00. Following the sale, the chief financial officer now directly owns 77,851 shares of the company’s stock, valued at approximately $6,765,251.90. This represents a 9.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 57,851 shares of company stock valued at $4,911,319 over the last 90 days. 1.66% of the stock is currently owned by corporate insiders.

About DocuSign

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.