Corient Private Wealth LP Makes New Investment in Docusign Inc. $DOCU

Corient Private Wealth LP bought a new position in shares of Docusign Inc. (NASDAQ:DOCU) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 259,819 shares of the company’s stock, valued at approximately $11,542,000.

Other hedge funds also recently made changes to their positions in the company. Smartleaf Asset Management LLC raised its position in shares of Docusign by 8.2% in the second quarter. Smartleaf Asset Management LLC now owns 2,169 shares of the company’s stock valued at $166,000 after buying an additional 165 shares in the last quarter. Centaurus Financial Inc. grew its position in Docusign by 3.4% during the third quarter. Centaurus Financial Inc. now owns 5,582 shares of the company’s stock worth $402,000 after buying an additional 184 shares in the last quarter. Tred Avon Family Wealth LLC grew its position in Docusign by 3.6% during the first quarter. Tred Avon Family Wealth LLC now owns 6,176 shares of the company’s stock worth $293,000 after buying an additional 215 shares in the last quarter. Sanctuary Advisors LLC increased its stake in Docusign by 2.4% during the 4th quarter. Sanctuary Advisors LLC now owns 9,685 shares of the company’s stock worth $662,000 after acquiring an additional 231 shares during the period. Finally, First Citizens Bank & Trust Co. increased its stake in Docusign by 2.1% during the 1st quarter. First Citizens Bank & Trust Co. now owns 11,745 shares of the company’s stock worth $557,000 after acquiring an additional 239 shares during the period. 77.64% of the stock is owned by institutional investors.

Key Docusign News

Here are the key news stories impacting Docusign this week:

• Positive Sentiment: Analysts at Zacks said DocuSign’s upcoming earnings report could benefit from factors supporting a potential earnings beat. The articles encourage investors to monitor earnings expectations ahead of the scheduled quarterly announcement. DocuSign Earnings Expected to Grow
• Positive Sentiment: Recent trading strength across several software stocks, including DocuSign, provided a favorable sector backdrop and helped support investor sentiment toward DOCU. Software Stocks Trade Up
• Neutral Sentiment: DocuSign’s ARR guidance is expected to receive increased attention from Bank of America. Investors will likely scrutinize recurring-revenue growth and management’s outlook because ARR is a key indicator of future subscription performance. DocuSign ARR Guidance
• Neutral Sentiment: Comparisons with Autodesk (NASDAQ: ADSK) frame DocuSign as a potential value opportunity within internet software, but the analysis does not represent a new company catalyst. DOCU Versus ADSK
• Negative Sentiment: Director James A. Beer sold 450 shares worth approximately $28,809. The transaction reduced his holdings by 2.99%, but it was made under a pre-arranged Rule 10b5-1 trading plan and represents only a small portion of his remaining stake, limiting its significance as a bearish signal. DocuSign Director Stock Sale Filing

Insider Activity at Docusign

In related news, CEO Allan C. Thygesen sold 26,250 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $46.02, for a total value of $1,208,025.00. Following the sale, the chief executive officer directly owned 159,038 shares of the company’s stock, valued at $7,318,928.76. This trade represents a 14.17% decrease in their ownership of the stock. 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, insider Robert Chatwani sold 15,902 shares of Docusign stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $43.01, for a total value of $683,945.02. Following the completion of the transaction, the insider owned 72,805 shares in the company, valued at approximately $3,131,343.05. This represents a 17.93% 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. Insiders have sold 91,780 shares of company stock worth $4,386,546 in the last three months. Insiders own 0.59% of the company’s stock.

Docusign Price Performance

Shares of NASDAQ:DOCU opened at $64.00 on Friday. Docusign Inc. has a 1 year low of $40.16 and a 1 year high of $86.65. The stock has a market capitalization of $12.22 billion, a price-to-earnings ratio of 41.56, a price-to-earnings-growth ratio of 1.86 and a beta of 0.87. The company’s 50 day simple moving average is $53.44 and its 200 day simple moving average is $49.15.

Docusign (NASDAQ:DOCU) last released its earnings results on Thursday, June 4th. The company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.10. The firm had revenue of $830.24 million during the quarter, compared to analysts’ expectations of $824.71 million. Docusign had a return on equity of 17.48% and a net margin of 9.59%.The company’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.90 earnings per share. As a group, analysts anticipate that Docusign Inc. will post 2.06 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have weighed in on DOCU. Citigroup reaffirmed a “market outperform” rating on shares of Docusign in a report on Tuesday, August 18th. Weiss Ratings raised Docusign from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday. Wedbush decreased their price target on Docusign from $60.00 to $58.00 and set a “neutral” rating on the stock in a research report on Friday, June 5th. Citizens Jmp reaffirmed a “market outperform” rating and issued a $86.00 price target on shares of Docusign in a research note on Tuesday, August 18th. Finally, Jefferies Financial Group upped their price objective on shares of Docusign from $45.00 to $50.00 and gave the stock a “hold” rating in a research 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 issued a Sell rating to the stock. According to MarketBeat.com, Docusign currently has a consensus rating of “Hold” and a consensus target price of $60.27.

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.