Readystate Asset Management LP Purchases New Position in Docusign Inc. $DOCU

Readystate Asset Management LP acquired a new position in shares of Docusign Inc. (NASDAQ:DOCU) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 217,464 shares of the company’s stock, valued at approximately $10,310,000. Readystate Asset Management LP owned approximately 0.11% of Docusign at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. State Street Corp raised its stake in shares of Docusign by 0.9% during the fourth quarter. State Street Corp now owns 8,193,805 shares of the company’s stock valued at $560,456,000 after purchasing an additional 77,008 shares during the period. Capital World Investors lifted its holdings in Docusign by 38.1% in the 4th quarter. Capital World Investors now owns 5,815,804 shares of the company’s stock worth $397,801,000 after buying an additional 1,603,900 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in Docusign by 76.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 5,285,128 shares of the company’s stock valued at $250,568,000 after buying an additional 2,283,996 shares during the last quarter. Geode Capital Management LLC grew 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 in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Docusign by 8.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,343,613 shares of the company’s stock valued at $228,703,000 after acquiring an additional 251,639 shares in the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on DOCU shares. Wall Street Zen upgraded Docusign from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Wedbush dropped their price objective on Docusign from $60.00 to $58.00 and set a “neutral” rating on the stock in a report on Friday, June 5th. Citigroup upped their target price on Docusign from $50.00 to $54.00 and gave the company a “neutral” rating in a research report on Friday, June 5th. Weiss Ratings upgraded Docusign from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, July 14th. Finally, UBS Group set a $60.00 price target on shares of Docusign in a research report on Friday, June 5th. Three analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $60.27.

Docusign Price Performance

DOCU stock opened at $55.97 on Wednesday. The firm has a market cap of $10.69 billion, a price-to-earnings ratio of 36.34, a PEG ratio of 1.56 and a beta of 0.90. Docusign Inc. has a 1-year low of $40.16 and a 1-year high of $86.65. The firm has a fifty day moving average price of $48.04 and a two-hundred day moving average price of $48.59.

Docusign (NASDAQ:DOCU) last posted its quarterly earnings results on Thursday, June 4th. The company reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.10. Docusign had a net margin of 9.59% and a return on equity of 17.48%. The company had revenue of $830.24 million for the quarter, compared to the consensus estimate of $824.71 million. During the same period last year, the firm posted $0.90 EPS. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. As a group, analysts expect that Docusign Inc. will post 2.03 EPS for the current fiscal year.

Insider Buying and Selling at Docusign

In other Docusign news, CFO Blake Jeffrey Grayson sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $45.55, for a total value of $683,250.00. Following the sale, the chief financial officer owned 141,429 shares in the company, valued at approximately $6,442,090.95. This trade represents a 9.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider James P. Shaughnessy sold 12,000 shares of the stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $45.54, for a total value of $546,480.00. Following the completion of the transaction, the insider directly owned 52,815 shares of the company’s stock, valued at $2,405,195.10. This trade represents a 18.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 76,695 shares of company stock worth $3,476,002. Corporate insiders own 0.59% of the company’s stock.

Docusign Company Profile

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.