Primecap Management Co. CA Buys Shares of 85,000 Docusign Inc. $DOCU

Primecap Management Co. CA bought a new stake in Docusign Inc. (NASDAQ:DOCU) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 85,000 shares of the company’s stock, valued at approximately $3,776,000.

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

Docusign Price Performance

Shares of DOCU opened at $59.33 on Thursday. The company has a market capitalization of $11.33 billion, a PE ratio of 38.53, a price-to-earnings-growth ratio of 1.77 and a beta of 0.87. Docusign Inc. has a one year low of $40.16 and a one year high of $86.65. The company’s fifty day moving average price is $52.62 and its 200 day moving average price is $48.93.

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

Analyst Upgrades and Downgrades

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

Insider Activity

In other Docusign news, insider James P. Shaughnessy sold 12,000 shares of the firm’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 sale, the insider owned 52,815 shares of the company’s stock, valued at $2,405,195.10. This trade represents a 18.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Blake Jeffrey Grayson sold 15,000 shares of the company’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 transaction, the chief financial officer owned 126,429 shares of the company’s stock, valued at approximately $7,585,740. This trade represents a 10.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 91,695 shares of company stock worth $4,376,002 over the last 90 days. Company insiders own 0.59% of the company’s stock.

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.