Harel Insurance Investments & Financial Services Ltd. Acquires 36,674 Shares of Docusign Inc. $DOCU

Harel Insurance Investments & Financial Services Ltd. boosted its holdings in shares of Docusign Inc. (NASDAQ:DOCU) by 46.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 115,884 shares of the company’s stock after purchasing an additional 36,674 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.’s holdings in Docusign were worth $5,494,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in DOCU. Norges Bank bought a new stake in shares of Docusign in the fourth quarter worth about $186,795,000. Capital World Investors boosted its stake in Docusign by 38.1% during the fourth 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 during the period. SG Americas Securities LLC grew its holdings in Docusign by 452.3% during the 1st quarter. SG Americas Securities LLC now owns 1,314,632 shares of the company’s stock valued at $62,327,000 after purchasing an additional 1,076,622 shares during the last quarter. Woodline Partners LP grew its stake in shares of Docusign by 24,412.7% during the third quarter. Woodline Partners LP now owns 958,938 shares of the company’s stock valued at $69,130,000 after buying an additional 955,026 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in Docusign by 46.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,001,132 shares of the company’s stock worth $205,277,000 after purchasing an additional 946,512 shares during the period. 77.64% of the stock is currently owned by institutional investors.

Docusign Stock Up 3.6%

Shares of NASDAQ DOCU opened at $51.16 on Thursday. The firm has a market cap of $9.77 billion, a price-to-earnings ratio of 33.22, a price-to-earnings-growth ratio of 1.46 and a beta of 0.90. The company’s 50-day simple moving average is $47.24 and its 200-day simple moving average is $49.62. Docusign Inc. has a 52-week low of $40.16 and a 52-week high of $86.65.

Docusign (NASDAQ:DOCU) last issued its quarterly earnings results on Thursday, June 4th. The company reported $1.09 earnings per share for the quarter, beating 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 firm had revenue of $830.24 million for the quarter, compared to analyst estimates of $824.71 million. During the same period last year, the company posted $0.90 EPS. Docusign’s quarterly revenue was up 8.7% compared to the same quarter last year. Equities research analysts anticipate that Docusign Inc. will post 2.03 EPS for the current fiscal year.

Analysts Set New Price Targets

DOCU has been the subject of several research analyst reports. Morgan Stanley decreased their price target on shares of Docusign from $90.00 to $69.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 18th. Weiss Ratings upgraded Docusign from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday. BTIG Research decreased their price target on shares of Docusign from $70.00 to $60.00 and set a “buy” rating for the company in a report on Friday, June 5th. Piper Sandler reduced their price objective on Docusign from $75.00 to $52.00 and set a “neutral” rating for the company in a research note on Wednesday, March 18th. Finally, Robert W. Baird cut their price target on shares of Docusign from $75.00 to $55.00 and set a “neutral” rating on the stock in a report on Wednesday, March 18th. Three analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $60.27.

Insider Buying and Selling at Docusign

In related news, CEO Allan C. Thygesen sold 26,250 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The stock was 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 directly owned 159,038 shares in the company, valued at approximately $7,318,928.76. The trade was a 14.17% 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 the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Blake Jeffrey Grayson sold 15,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief financial officer owned 141,429 shares in the company, valued at $6,442,090.95. The trade was a 9.59% decrease in their position. 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 ninety days, insiders have sold 76,695 shares of company stock valued at $3,476,002. 0.59% of the stock is owned by insiders.

Docusign 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.