Entropy Technologies LP Boosts Holdings in Docusign Inc. $DOCU

Entropy Technologies LP boosted its stake in shares of Docusign Inc. (NASDAQ:DOCU) by 60.3% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 43,845 shares of the company’s stock after purchasing an additional 16,493 shares during the period. Entropy Technologies LP’s holdings in Docusign were worth $2,999,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of DOCU. Vanguard Group Inc. grew its holdings in Docusign by 1.1% during the third quarter. Vanguard Group Inc. now owns 21,625,551 shares of the company’s stock worth $1,558,986,000 after acquiring an additional 225,525 shares during the period. State Street Corp lifted its holdings in Docusign by 0.9% in the fourth quarter. State Street Corp now owns 8,193,805 shares of the company’s stock valued at $560,456,000 after acquiring an additional 77,008 shares during the period. Capital World Investors lifted its holdings in Docusign by 38.1% in the fourth quarter. Capital World Investors now owns 5,815,804 shares of the company’s stock valued at $397,801,000 after acquiring an additional 1,603,900 shares during the period. Geode Capital Management LLC lifted its holdings in Docusign by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 4,084,463 shares of the company’s stock valued at $278,665,000 after acquiring an additional 18,873 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Docusign by 8.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,343,613 shares of the company’s stock valued at $228,703,000 after acquiring an additional 251,639 shares during the period. Institutional investors and hedge funds own 77.64% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on DOCU. Bank of America began coverage on Docusign in a report on Tuesday, March 31st. They issued an “underperform” rating and a $52.00 price target for the company. BTIG Research decreased their price target on Docusign from $70.00 to $60.00 and set a “buy” rating for the company in a report on Friday, June 5th. Citigroup lifted their price objective on shares of Docusign from $50.00 to $54.00 and gave the company a “neutral” rating in a report on Friday, June 5th. Royal Bank Of Canada decreased their price objective on shares of Docusign from $70.00 to $55.00 and set a “sector perform” rating for the company in a research report on Wednesday, March 18th. Finally, JPMorgan Chase & Co. dropped their target price on Docusign from $78.00 to $65.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 18th. Three analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $60.27.

Insider Activity at Docusign

In other Docusign news, Director Mary Agnes Wilderotter sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $48.15, for a total transaction of $144,450.00. Following the completion of the sale, the director directly owned 59,803 shares in the company, valued at approximately $2,879,514.45. The trade was a 4.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider James P. Shaughnessy sold 12,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $46.83, for a total value of $561,960.00. Following the sale, the insider owned 53,631 shares of the company’s stock, valued at approximately $2,511,539.73. This trade represents a 18.28% 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. Insiders sold 65,489 shares of company stock worth $3,125,814 in the last quarter. Corporate insiders own 0.59% of the company’s stock.

Docusign Stock Performance

NASDAQ:DOCU opened at $45.03 on Monday. Docusign Inc. has a 12 month low of $40.16 and a 12 month high of $86.65. The stock has a 50 day moving average of $47.56 and a two-hundred day moving average of $53.38. The firm has a market cap of $8.60 billion, a P/E ratio of 29.24, a price-to-earnings-growth ratio of 1.36 and a beta of 0.92.

Docusign (NASDAQ:DOCU) last posted its quarterly earnings data on Thursday, June 4th. The company reported $1.09 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $824.71 million. During the same period in the previous year, the business earned $0.90 EPS. Docusign’s quarterly revenue was up 8.7% on a year-over-year basis. On average, research analysts forecast that Docusign Inc. will post 1.97 earnings per share for the current year.

Docusign declared that its Board of Directors has authorized a stock buyback program on Tuesday, March 17th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 21% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

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.