Strategic Global Advisors LLC Takes $1.50 Million Position in Docusign Inc. $DOCU

Strategic Global Advisors LLC purchased a new position in shares of Docusign Inc. (NASDAQ:DOCU) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 33,796 shares of the company’s stock, valued at approximately $1,501,000.

A number of other hedge funds also recently modified their holdings of DOCU. Bank of America Corp DE raised its stake in Docusign by 23.3% in the 1st quarter. Bank of America Corp DE now owns 1,193,163 shares of the company’s stock valued at $56,568,000 after acquiring an additional 225,801 shares during the period. Capital World Investors increased its stake in shares of Docusign by 38.1% in the fourth quarter. Capital World Investors now owns 5,815,804 shares of the company’s stock worth $397,801,000 after purchasing an additional 1,603,900 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of Docusign by 247.5% in the second quarter. Assenagon Asset Management S.A. now owns 349,038 shares of the company’s stock valued at $15,504,000 after purchasing an additional 248,597 shares during the period. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new stake in shares of Docusign in the fourth quarter valued at approximately $6,897,000. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of Docusign during the 4th quarter valued at approximately $1,750,000. Institutional investors own 77.64% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on DOCU. Wall Street Zen downgraded shares of Docusign from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 2nd. UBS Group set a $60.00 target price on shares of Docusign in a report on Friday, June 5th. Citigroup reaffirmed a “market outperform” rating on shares of Docusign in a report on Tuesday, August 18th. Jefferies Financial Group boosted their price objective on Docusign from $45.00 to $50.00 and gave the company a “hold” rating in a research note on Friday, June 5th. Finally, BTIG Research decreased their price target on Docusign from $70.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, June 5th. Four research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $60.27.

Docusign Stock Performance

NASDAQ DOCU opened at $59.33 on Thursday. Docusign Inc. has a 52-week low of $40.16 and a 52-week high of $86.65. The company has a market capitalization of $11.33 billion, a P/E ratio of 38.53, a P/E/G ratio of 1.77 and a beta of 0.87. The company has a fifty day moving average of $52.62 and a 200-day moving average of $48.93.

Docusign (NASDAQ:DOCU) last released its earnings results on Thursday, June 4th. The company reported $1.09 EPS for the quarter, beating 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 quarter in the prior year, the firm earned $0.90 earnings per share. The firm’s revenue was up 8.7% on a year-over-year basis. As a group, analysts forecast that Docusign Inc. will post 2.04 EPS for the current fiscal year.

Insider Transactions at Docusign

In related news, CFO Blake Jeffrey Grayson sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $60.00, for a total value of $900,000.00. Following the completion of the sale, the chief financial officer owned 126,429 shares in the company, valued at $7,585,740. The trade was a 10.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider James P. Shaughnessy sold 12,000 shares of the company’s 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 sale, the insider directly owned 52,815 shares of the company’s stock, valued at approximately $2,405,195.10. This represents a 18.51% decrease in their position. 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 three months, insiders sold 91,695 shares of company stock worth $4,376,002. Company 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.