Sequoia Financial Advisors LLC grew its position in Docusign Inc. (NASDAQ:DOCU – Free Report) by 334.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,758 shares of the company’s stock after acquiring an additional 15,214 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Docusign were worth $937,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. State Street Corp grew its holdings in Docusign by 0.9% during the fourth quarter. State Street Corp now owns 8,193,805 shares of the company’s stock worth $560,456,000 after acquiring an additional 77,008 shares during the period. Capital World Investors grew its holdings in Docusign by 38.1% during the 4th quarter. Capital World Investors now owns 5,815,804 shares of the company’s stock valued at $397,801,000 after buying an additional 1,603,900 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Docusign by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 4,084,463 shares of the company’s stock valued at $278,665,000 after acquiring an additional 18,873 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Docusign by 8.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,343,613 shares of the company’s stock worth $228,703,000 after purchasing an additional 251,639 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in Docusign by 46.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,001,132 shares of the company’s stock worth $205,277,000 after acquiring an additional 946,512 shares during the period. Hedge funds and other institutional investors own 77.64% of the company’s stock.
Analyst Upgrades and Downgrades
DOCU has been the subject of several research analyst reports. Needham & Company LLC restated a “hold” rating on shares of Docusign in a research note on Friday, June 5th. Bank of America started coverage on shares of Docusign in a report on Tuesday, March 31st. They set an “underperform” rating and a $52.00 target price on the stock. Wedbush decreased their target price on shares of Docusign from $60.00 to $58.00 and set a “neutral” rating for the company in a research report on Friday, June 5th. Citigroup raised their price target on Docusign from $50.00 to $54.00 and gave the company a “neutral” rating in a report on Friday, June 5th. Finally, BTIG Research dropped their target price on Docusign from $70.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, June 5th. Three research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Docusign has a consensus rating of “Hold” and an average price target of $60.27.
Docusign Stock Performance
NASDAQ:DOCU opened at $52.74 on Friday. Docusign Inc. has a 52 week low of $40.16 and a 52 week high of $86.65. The company has a 50-day moving average of $47.44 and a 200-day moving average of $49.53. The company has a market capitalization of $10.07 billion, a price-to-earnings ratio of 34.25, a PEG ratio of 1.57 and a beta of 0.90.
Docusign (NASDAQ:DOCU – Get Free Report) last announced its quarterly earnings data on Thursday, June 4th. The company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.10. Docusign had a return on equity of 17.48% and a net margin of 9.59%.The business had revenue of $830.24 million during the quarter, compared to analysts’ expectations of $824.71 million. During the same period in the previous year, the firm earned $0.90 earnings per share. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. Sell-side analysts forecast that Docusign Inc. will post 2.03 EPS for the current year.
Insider Transactions at Docusign
In other news, insider James P. Shaughnessy sold 12,000 shares of Docusign stock in a transaction dated 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 of the company’s stock, valued at $2,405,195.10. This trade represents a 18.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robert Chatwani sold 15,902 shares of the business’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $43.01, for a total transaction of $683,945.02. Following the transaction, the insider owned 72,805 shares in the company, valued at $3,131,343.05. This represents a 17.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 76,695 shares of company stock valued at $3,476,002. 0.59% of the stock is owned by company insiders.
About Docusign
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.
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