Docusign Inc. $DOCU Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its position in Docusign Inc. (NASDAQ:DOCU) by 17.1% in the first quarter, Holdings Channel reports. The institutional investor owned 1,274,859 shares of the company’s stock after selling 263,152 shares during the period. Bank of New York Mellon Corp’s holdings in Docusign were worth $60,441,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of DOCU. Norges Bank acquired a new stake in shares of Docusign during the 4th quarter valued at about $186,795,000. Capital World Investors increased 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 purchasing an additional 1,603,900 shares in the last quarter. SG Americas Securities LLC raised its holdings in Docusign by 452.3% in the 1st quarter. SG Americas Securities LLC now owns 1,314,632 shares of the company’s stock worth $62,327,000 after purchasing an additional 1,076,622 shares during the period. Woodline Partners LP raised its holdings in Docusign by 24,412.7% in the 3rd quarter. Woodline Partners LP now owns 958,938 shares of the company’s stock worth $69,130,000 after purchasing an additional 955,026 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its position in Docusign by 46.1% during 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 in the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.

Insider Buying and Selling at Docusign

In other news, insider James P. Shaughnessy sold 12,000 shares of the business’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 transaction of $546,480.00. Following the transaction, the insider directly owned 52,815 shares in the company, valued at $2,405,195.10. The trade was a 18.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 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 sale, the chief financial officer owned 141,429 shares of the company’s stock, valued at $6,442,090.95. This trade represents a 9.59% 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. Over the last quarter, insiders sold 76,695 shares of company stock worth $3,476,002. 0.59% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have commented on DOCU shares. BTIG Research dropped their price objective on Docusign from $70.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, June 5th. Weiss Ratings upgraded Docusign from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, July 14th. Bank of America began coverage on shares of Docusign in a research note on Tuesday, March 31st. They issued an “underperform” rating and a $52.00 price target on the stock. Citigroup lifted their price target on shares of Docusign from $50.00 to $54.00 and gave the company a “neutral” rating in a research note on Friday, June 5th. Finally, Wall Street Zen lowered shares of Docusign from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 12th. Three analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $60.27.

Docusign Stock Down 5.6%

Shares of NASDAQ DOCU opened at $47.89 on Thursday. The firm has a 50-day simple moving average of $47.74 and a 200-day simple moving average of $49.00. The stock has a market capitalization of $9.14 billion, a price-to-earnings ratio of 31.10, a price-to-earnings-growth ratio of 1.50 and a beta of 0.90. Docusign Inc. has a 52 week low of $40.16 and a 52 week high of $86.65.

Docusign (NASDAQ:DOCU) last posted its quarterly earnings results on Thursday, June 4th. The company reported $1.09 earnings per share for the quarter, topping 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 in the previous year, the business posted $0.90 earnings per share. Docusign’s quarterly revenue was up 8.7% on a year-over-year basis. As a group, equities research analysts expect that Docusign Inc. will post 2.03 EPS for the current year.

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.