Arrowstreet Capital Limited Partnership Increases Stake in Docusign Inc. $DOCU

Arrowstreet Capital Limited Partnership grew its holdings in shares of Docusign Inc. (NASDAQ:DOCU) by 76.1% during the 1st quarter, HoldingsChannel reports. The firm owned 5,285,128 shares of the company’s stock after buying an additional 2,283,996 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Docusign were worth $250,568,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of DOCU. Caxton Associates LLP acquired a new stake in shares of Docusign in the first quarter valued at about $4,853,000. Bank of Nova Scotia boosted its position in shares of Docusign by 57.6% during the 1st quarter. Bank of Nova Scotia now owns 118,093 shares of the company’s stock valued at $5,599,000 after acquiring an additional 43,147 shares during the last quarter. Sei Investments Co. boosted its holdings in Docusign by 238.0% in the 1st quarter. Sei Investments Co. now owns 279,457 shares of the company’s stock valued at $13,249,000 after purchasing an additional 196,769 shares during the last quarter. Lido Advisors LLC purchased a new position in Docusign in the first quarter worth approximately $301,000. Finally, WealthCollab LLC lifted its stake 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 purchasing an additional 674 shares during the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on DOCU. Citigroup raised their price objective on Docusign from $50.00 to $54.00 and gave the stock a “neutral” rating in a research report on Friday, June 5th. Bank of America began coverage on shares of Docusign in a research note on Tuesday, March 31st. They set an “underperform” rating and a $52.00 target price for the company. UBS Group set a $60.00 price target on shares of Docusign in a research report on Friday, June 5th. Wall Street Zen raised shares of Docusign from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Finally, Needham & Company LLC restated a “hold” rating on shares of Docusign in a report on Friday, June 5th. Three equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Docusign currently has a consensus rating of “Hold” and a consensus target price of $60.27.

Insiders Place Their Bets

In related news, insider James P. Shaughnessy sold 12,000 shares of Docusign stock in a transaction 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 completion of the transaction, the insider directly owned 52,815 shares in the company, valued at approximately $2,405,195.10. This trade represents a 18.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Allan C. Thygesen sold 26,250 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer directly owned 159,038 shares of the company’s stock, valued at $7,318,928.76. The trade was a 14.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 76,695 shares of company stock valued at $3,476,002. 0.59% of the stock is owned by company insiders.

Docusign Stock Up 7.2%

Shares of DOCU opened at $50.44 on Friday. The company has a market cap of $9.63 billion, a P/E ratio of 32.75, a PEG ratio of 1.39 and a beta of 0.90. Docusign Inc. has a fifty-two week low of $40.16 and a fifty-two week high of $86.65. The firm’s 50 day moving average price is $47.83 and its 200 day moving average price is $48.89.

Docusign (NASDAQ:DOCU) last issued 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. 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 firm’s revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.90 EPS. Research analysts forecast that Docusign Inc. will post 2.03 earnings per share for the current year.

Docusign Company 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.