Pallas Capital Advisors LLC Invests $465,000 in Docusign Inc. $DOCU

Pallas Capital Advisors LLC acquired a new stake in Docusign Inc. (NASDAQ:DOCUFree Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 10,466 shares of the company’s stock, valued at approximately $465,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. NewEdge Advisors LLC raised its stake in shares of Docusign by 36.4% in the first quarter. NewEdge Advisors LLC now owns 9,202 shares of the company’s stock valued at $749,000 after buying an additional 2,457 shares during the period. Guggenheim Capital LLC grew its stake in shares of Docusign by 6.7% during the 2nd quarter. Guggenheim Capital LLC now owns 11,543 shares of the company’s stock worth $899,000 after acquiring an additional 729 shares during the period. State Street Corp grew its stake in shares of Docusign by 3.0% during the 2nd quarter. State Street Corp now owns 8,074,976 shares of the company’s stock worth $628,960,000 after acquiring an additional 236,494 shares during the period. Sei Investments Co. increased its holdings in Docusign by 60.7% in the 2nd quarter. Sei Investments Co. now owns 40,386 shares of the company’s stock worth $3,146,000 after acquiring an additional 15,247 shares during the last quarter. Finally, Treasurer of the State of North Carolina increased its holdings in Docusign by 51.0% in the 2nd quarter. Treasurer of the State of North Carolina now owns 189,178 shares of the company’s stock worth $14,735,000 after acquiring an additional 63,911 shares during the last quarter. 77.64% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on DOCU shares. UBS Group set a $60.00 price objective on shares of Docusign in a report on Friday, June 5th. Wall Street Zen downgraded shares of Docusign from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 2nd. Citigroup reissued a “market outperform” rating on shares of Docusign in a research report on Tuesday. BTIG Research dropped their price target on shares of Docusign from $70.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday, June 5th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Docusign in a report on Friday, June 5th. Four research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $60.27.

Read Our Latest Stock Report on Docusign

Docusign Stock Performance

Shares of DOCU opened at $62.28 on Friday. The stock has a market capitalization of $11.89 billion, a price-to-earnings ratio of 40.44, a price-to-earnings-growth ratio of 1.83 and a beta of 0.87. Docusign Inc. has a 52-week low of $40.16 and a 52-week high of $86.65. The stock’s 50-day simple moving average is $51.25 and its 200 day simple moving average is $48.55.

Docusign (NASDAQ:DOCUGet Free Report) last announced its quarterly earnings results on Thursday, June 4th. The company reported $1.09 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.10. Docusign had a return on equity of 17.48% and a net margin of 9.59%.The firm had revenue of $830.24 million for the quarter, compared to analysts’ expectations of $824.71 million. During the same period in the prior year, the business posted $0.90 earnings per share. The company’s revenue was up 8.7% on a year-over-year basis. On average, research analysts forecast that Docusign Inc. will post 2.03 earnings per share for the current fiscal year.

Insider Buying and Selling at Docusign

In other Docusign news, insider Robert Chatwani sold 15,902 shares of the stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $43.01, for a total value of $683,945.02. Following the sale, the insider directly owned 72,805 shares in the company, valued at $3,131,343.05. This represents a 17.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider James P. Shaughnessy sold 12,000 shares of the firm’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $45.54, for a total transaction of $546,480.00. Following the completion of the transaction, the insider directly owned 52,815 shares of the company’s stock, valued at approximately $2,405,195.10. The trade was a 18.51% decrease in their ownership of the stock. 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. Insiders have sold a total of 91,695 shares of company stock worth $4,376,002 in the last ninety days. Insiders own 0.59% of the company’s stock.

Docusign 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.

See Also

Institutional Ownership by Quarter for Docusign (NASDAQ:DOCU)

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