Ridgepath Capital Management LLC bought a new stake in Docusign Inc. (NASDAQ:DOCU – Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 56,255 shares of the company’s stock, valued at approximately $2,667,000. Docusign accounts for about 1.3% of Ridgepath Capital Management LLC’s investment portfolio, making the stock its 18th biggest holding.
A number of other large investors have also added to or reduced their stakes in DOCU. Central Pacific Bank Trust Division acquired a new position in Docusign in the 4th quarter worth $25,000. Modus Advisors LLC acquired a new stake in shares of Docusign during the fourth quarter valued at about $27,000. Torren Management LLC purchased a new stake in shares of Docusign during the fourth quarter worth about $28,000. True Wealth Design LLC lifted its stake in shares of Docusign by 105.2% in the fourth quarter. True Wealth Design LLC now owns 433 shares of the company’s stock worth $30,000 after acquiring an additional 222 shares in the last quarter. Finally, Aventura Private Wealth LLC purchased a new position in Docusign in the fourth quarter valued at about $30,000. 77.64% of the stock is owned by institutional investors and hedge funds.
Insider Activity at Docusign
In other news, insider James P. Shaughnessy sold 12,000 shares of the company’s stock in a transaction dated 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 owned 52,815 shares in the company, valued at approximately $2,405,195.10. This represents a 18.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Allan C. Thygesen sold 26,250 shares of Docusign stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $46.02, for a total transaction of $1,208,025.00. Following the completion of the sale, the chief executive officer owned 159,038 shares in the company, valued at approximately $7,318,928.76. This represents a 14.17% 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. In the last quarter, insiders have sold 76,695 shares of company stock valued at $3,476,002. Company insiders own 0.59% of the company’s stock.
Docusign Stock Down 0.8%
Docusign (NASDAQ:DOCU – Get Free Report) last announced its quarterly earnings results on Thursday, June 4th. The company reported $1.09 earnings per share 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 for the quarter, compared to analysts’ expectations of $824.71 million. During the same period in the prior year, the firm earned $0.90 EPS. The business’s quarterly revenue was up 8.7% on a year-over-year basis. Analysts expect that Docusign Inc. will post 2.03 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Docusign in a research report on Friday, June 5th. Jefferies Financial Group raised their price objective on shares of Docusign from $45.00 to $50.00 and gave the stock a “hold” rating in a report on Friday, June 5th. Wall Street Zen lowered shares of Docusign from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 12th. Weiss Ratings raised Docusign from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, July 14th. Finally, BTIG Research decreased their target price on Docusign from $70.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, June 5th. Three analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $60.27.
Check Out Our Latest Research Report on Docusign
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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