Eventide Asset Management LLC Has $586,000 Stock Position in Docusign Inc. $DOCU

Eventide Asset Management LLC lowered its stake in shares of Docusign Inc. (NASDAQ:DOCU) by 63.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,480 shares of the company’s stock after selling 14,816 shares during the period. Eventide Asset Management LLC’s holdings in Docusign were worth $586,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in DOCU. NewEdge Advisors LLC lifted its stake in Docusign by 36.4% in the first quarter. NewEdge Advisors LLC now owns 9,202 shares of the company’s stock valued at $749,000 after buying an additional 2,457 shares during the period. Guggenheim Capital LLC grew its holdings in Docusign by 6.7% during the second quarter. Guggenheim Capital LLC now owns 11,543 shares of the company’s stock worth $899,000 after buying an additional 729 shares in the last quarter. State Street Corp grew its holdings in Docusign by 3.0% during the second quarter. State Street Corp now owns 8,074,976 shares of the company’s stock worth $628,960,000 after buying an additional 236,494 shares in the last quarter. Sei Investments Co. grew its holdings in Docusign by 60.7% during the second quarter. Sei Investments Co. now owns 40,386 shares of the company’s stock worth $3,146,000 after buying an additional 15,247 shares in the last quarter. Finally, Treasurer of the State of North Carolina grew its holdings in Docusign by 51.0% during the second quarter. Treasurer of the State of North Carolina now owns 189,178 shares of the company’s stock worth $14,735,000 after buying an additional 63,911 shares in the last quarter. 77.64% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Docusign news, Director Mary Agnes Wilderotter sold 3,000 shares of the stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $48.15, for a total value of $144,450.00. Following the completion of the transaction, the director directly owned 59,803 shares of the company’s stock, valued at approximately $2,879,514.45. This trade represents a 4.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Robert Chatwani sold 16,696 shares of the firm’s stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $48.10, for a total transaction of $803,077.60. Following the completion of the transaction, the insider directly owned 72,458 shares in the company, valued at approximately $3,485,229.80. This represents a 18.73% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 65,489 shares of company stock valued at $3,125,814. Insiders own 0.59% of the company’s stock.

Docusign Trading Down 1.9%

Shares of DOCU stock opened at $44.19 on Tuesday. The firm has a fifty day moving average price of $47.48 and a 200 day moving average price of $53.22. The company has a market cap of $8.44 billion, a P/E ratio of 28.69, a PEG ratio of 1.36 and a beta of 0.92. Docusign Inc. has a 12 month low of $40.16 and a 12 month high of $86.65.

Docusign (NASDAQ:DOCU) last issued its earnings results on Thursday, June 4th. The company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.10. The firm had revenue of $830.24 million during the quarter, compared to the consensus estimate of $824.71 million. Docusign had a net margin of 9.59% and a return on equity of 17.48%. The company’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.90 earnings per share. On average, equities analysts forecast that Docusign Inc. will post 1.97 EPS for the current year.

Docusign declared that its Board of Directors has approved a share buyback plan on Tuesday, March 17th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 21% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. dropped their price target on Docusign from $78.00 to $65.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 18th. Jefferies Financial Group upped their price target on Docusign from $45.00 to $50.00 and gave the company a “hold” rating in a research report on Friday, June 5th. Citizens Jmp dropped their price target 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. Morgan Stanley dropped their price target on Docusign from $90.00 to $69.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 18th. Finally, Royal Bank Of Canada dropped their price target on Docusign from $70.00 to $55.00 and set a “sector perform” rating on the stock in a research report on Wednesday, March 18th. 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 company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $60.27.

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.