Arrowstreet Capital Limited Partnership Buys 946,512 Shares of Docusign Inc. $DOCU

Arrowstreet Capital Limited Partnership boosted its position in shares of Docusign Inc. (NASDAQ:DOCU) by 46.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 3,001,132 shares of the company’s stock after acquiring an additional 946,512 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Docusign were worth $205,277,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Central Pacific Bank Trust Division acquired a new stake in Docusign in the 4th quarter valued at approximately $25,000. Modus Advisors LLC acquired a new stake in Docusign in the 4th quarter valued at approximately $27,000. Torren Management LLC acquired a new stake in Docusign in the 4th quarter valued at approximately $28,000. True Wealth Design LLC raised its position in Docusign by 105.2% in the 4th quarter. True Wealth Design LLC now owns 433 shares of the company’s stock valued at $30,000 after buying an additional 222 shares during the last quarter. Finally, Aventura Private Wealth LLC acquired a new stake in Docusign in the 4th quarter valued at approximately $30,000. Institutional investors own 77.64% of the company’s stock.

Docusign Price Performance

NASDAQ:DOCU opened at $45.03 on Monday. The firm has a market capitalization of $8.60 billion, a price-to-earnings ratio of 29.24, a price-to-earnings-growth ratio of 1.36 and a beta of 0.92. Docusign Inc. has a twelve month low of $40.16 and a twelve month high of $86.65. The stock’s 50 day moving average price is $47.56 and its two-hundred day moving average price is $53.38.

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 the consensus estimate of $0.99 by $0.10. The firm had revenue of $830.24 million for the quarter, compared to analyst estimates of $824.71 million. Docusign had a return on equity of 17.48% and a net margin of 9.59%.The business’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.90 EPS. As a group, analysts anticipate that Docusign Inc. will post 1.97 earnings per share for the current year.

Docusign declared that its board has authorized a share repurchase program on Tuesday, March 17th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 21% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Citizens Jmp dropped their target price on Docusign from $124.00 to $86.00 and set a “market outperform” rating on the stock in a research report on Wednesday, March 18th. Weiss Ratings raised Docusign from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, June 3rd. Bank of America assumed coverage on Docusign in a research report on Tuesday, March 31st. They issued an “underperform” rating and a $52.00 target price on the stock. Jefferies Financial Group lifted their target price on Docusign from $45.00 to $50.00 and gave the company a “hold” rating in a research report on Friday, June 5th. Finally, BTIG Research lowered their price target on Docusign from $70.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, June 5th. Three equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $60.27.

Insider Buying and Selling at Docusign

In related news, insider Robert Chatwani sold 16,696 shares of the business’s stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $48.10, for a total transaction of $803,077.60. Following the transaction, the insider directly owned 72,458 shares of the company’s stock, valued at approximately $3,485,229.80. The trade was a 18.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Paula Hansen sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $46.84, for a total value of $281,040.00. Following the transaction, the executive directly owned 79,233 shares in the company, valued at $3,711,273.72. The trade was a 7.04% decrease in their ownership of the stock. 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 sold 65,489 shares of company stock worth $3,125,814 in the last three months. 0.59% of the stock is owned by insiders.

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.