Citizens Financial Group Inc. RI Buys Shares of 16,307 Docusign Inc. $DOCU

Citizens Financial Group Inc. RI acquired a new stake in shares of Docusign Inc. (NASDAQ:DOCU) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 16,307 shares of the company’s stock, valued at approximately $724,000.

Other institutional investors also recently bought and sold shares of the company. Modus Advisors LLC acquired a new stake in shares of Docusign in the 4th quarter worth $27,000. Torren Management LLC purchased a new stake in Docusign in the fourth quarter valued at approximately $28,000. Cary Street Partners Investment Advisory LLC boosted its holdings in shares of Docusign by 309.5% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 561 shares of the company’s stock valued at $38,000 after acquiring an additional 424 shares during the last quarter. Basepoint Wealth LLC purchased a new stake in Docusign in the fourth quarter valued at $39,000. Finally, WealthCollab LLC lifted its holdings in shares of Docusign by 372.4% in the 1st quarter. WealthCollab LLC now owns 855 shares of the company’s stock valued at $41,000 after buying an additional 674 shares during the period. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CRO Paula Hansen sold 6,000 shares of Docusign stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $45.54, for a total value of $273,240.00. Following the sale, the executive owned 89,972 shares of the company’s stock, valued at approximately $4,097,324.88. This trade represents a 6.25% decrease in their position. The transaction was disclosed in a legal filing 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, CEO Allan C. Thygesen sold 26,250 shares of Docusign stock in a transaction on 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 directly owned 159,038 shares in the company, valued at $7,318,928.76. This represents a 14.17% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 91,695 shares of company stock worth $4,376,002. Insiders own 0.59% of the company’s stock.

Docusign Trading Up 3.5%

NASDAQ DOCU opened at $62.11 on Thursday. The stock has a market capitalization of $11.86 billion, a price-to-earnings ratio of 40.33, a PEG ratio of 1.76 and a beta of 0.87. Docusign Inc. has a twelve month low of $40.16 and a twelve month high of $86.65. The stock has a 50-day moving average of $50.90 and a 200 day moving average of $48.48.

Docusign (NASDAQ:DOCU) last issued its quarterly earnings data on Thursday, June 4th. The company reported $1.09 EPS for the quarter, beating the consensus estimate of $0.99 by $0.10. The company had revenue of $830.24 million for the quarter, compared to analyst estimates of $824.71 million. Docusign had a return on equity of 17.48% and a net margin of 9.59%.Docusign’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period last year, the company earned $0.90 earnings per share. Equities analysts predict that Docusign Inc. will post 2.04 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently commented on DOCU shares. Citizens Jmp reaffirmed a “market outperform” rating and set a $86.00 target price on shares of Docusign in a report on Tuesday. Needham & Company LLC reaffirmed a “hold” rating on shares of Docusign in a report on Friday, June 5th. BTIG Research cut their target price 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. Wall Street Zen cut shares of Docusign from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 2nd. Finally, Wedbush lowered their price target on shares of Docusign from $60.00 to $58.00 and set a “neutral” rating on the stock in a report on Friday, June 5th. Four research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Docusign currently has an average rating of “Hold” and a consensus target price of $60.27.

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.