22,517 Shares in Docusign Inc. $DOCU Bought by Palogic Value Management L.P.

Palogic Value Management L.P. acquired a new stake in shares of Docusign Inc. (NASDAQ:DOCU) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 22,517 shares of the company’s stock, valued at approximately $1,000,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in Docusign in the 2nd quarter worth about $927,059,000. Norges Bank acquired a new stake in shares of Docusign during the 4th quarter valued at about $186,795,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Docusign by 76.1% during 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. Capital World Investors grew its stake in shares of Docusign by 38.1% in the 4th quarter. Capital World Investors now owns 5,815,804 shares of the company’s stock valued at $397,801,000 after buying an additional 1,603,900 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in shares of Docusign in the 2nd quarter valued at approximately $56,219,000. Hedge funds and other institutional investors own 77.64% of the company’s stock.

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 firm’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $60.00, for a total transaction of $900,000.00. Following the completion of the sale, the chief financial officer owned 126,429 shares in the company, valued at approximately $7,585,740. The trade was a 10.61% 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. 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.

Docusign Stock Performance

DOCU opened at $59.33 on Thursday. The firm has a market cap of $11.33 billion, a P/E ratio of 38.53, a price-to-earnings-growth ratio of 1.77 and a beta of 0.87. The business has a 50 day moving average price of $52.62 and a 200 day moving average price of $48.93. Docusign Inc. has a twelve month low of $40.16 and a twelve month high of $86.65.

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

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Wells Fargo & Company dropped their price objective on Docusign from $60.00 to $55.00 and set an “equal weight” rating on the stock in a report on Friday, June 5th. Citigroup reissued a “market outperform” rating on shares of Docusign in a research report on Tuesday, August 18th. Wedbush dropped their price target on shares of Docusign from $60.00 to $58.00 and set a “neutral” rating on the stock in a research note on Friday, June 5th. Needham & Company LLC restated a “hold” rating on shares of Docusign in a research note on Friday, June 5th. Finally, Wall Street Zen downgraded shares of Docusign from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 2nd. Four equities 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. Based on data from MarketBeat, Docusign has a consensus rating of “Hold” and an average price target 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.