1,265,623 Shares in Docusign Inc. $DOCU Bought by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon acquired 1.27 million DocuSign shares worth approximately $56.2 million during the second quarter, giving it a 0.66% stake. Institutional investors and hedge funds collectively own 77.64% of DOCU.
• DocuSign insiders have been selling shares, including the CFO’s $900,000 sale and the CEO’s $1.2 million sale; insiders sold 91,695 shares worth $4.38 million over the past three months.
• Analysts maintain a broadly neutral outlook, with DocuSign carrying a consensus “Hold” rating and an average price target of $60.27. The company recently beat quarterly earnings and revenue estimates, reporting $1.09 EPS and $830.24 million in revenue, up 8.7% year over year.

Bank of New York Mellon Corp acquired a new stake in Docusign Inc. (NASDAQ:DOCU - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 1,265,623 shares of the company's stock, valued at approximately $56,219,000. Bank of New York Mellon Corp owned approximately 0.66% of Docusign at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Focus Partners Advisor Solutions LLC acquired a new stake in shares of Docusign in the 2nd quarter valued at about $865,000. State of Wyoming acquired a new position in shares of Docusign during the second quarter worth about $357,000. GSA Capital Partners LLP bought a new position in shares of Docusign during the second quarter worth about $1,302,000. Oppenheimer Asset Management Inc. bought a new position in shares of Docusign during the second quarter worth about $302,000. Finally, Handelsbanken Fonder AB raised its position in Docusign by 6.3% in the 2nd quarter. Handelsbanken Fonder AB now owns 60,600 shares of the company's stock valued at $2,692,000 after buying an additional 3,600 shares during the last quarter. 77.64% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CFO Blake Jeffrey Grayson sold 15,000 shares of the firm's stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $60.00, for a total transaction of $900,000.00. Following the completion of the sale, the chief financial officer owned 126,429 shares in the company, valued at approximately $7,585,740. This trade represents a 10.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Allan C. Thygesen sold 26,250 shares of Docusign stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $46.02, for a total transaction of $1,208,025.00. Following the sale, 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 position. 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. Over the last three months, insiders sold 91,695 shares of company stock valued at $4,376,002. 0.59% of the stock is currently owned by insiders.

Analysts Set New Price Targets

DOCU has been the subject of a number of recent research reports. Needham & Company LLC reaffirmed a "hold" rating on shares of Docusign in a research report on Friday, June 5th. Wedbush lowered their price objective on shares of Docusign from $60.00 to $58.00 and set a "neutral" rating on the stock in a report on Friday, June 5th. Weiss Ratings raised shares of Docusign from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday. UBS Group set a $60.00 target price on shares of Docusign in a research report on Friday, June 5th. Finally, BTIG Research lowered their price target on shares of Docusign from $70.00 to $60.00 and set a "buy" rating on the stock in a research note on Friday, June 5th. Four research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Docusign presently has an average rating of "Hold" and a consensus price target of $60.27.

Docusign Stock Down 2.0%

Shares of NASDAQ DOCU opened at $59.33 on Thursday. The business's 50 day moving average price is $52.62 and its two-hundred day moving average price is $48.93. The company has a market cap of $11.33 billion, a PE ratio of 38.53, a price-to-earnings-growth ratio of 1.77 and a beta of 0.87. Docusign Inc. has a twelve month low of $40.16 and a twelve month high of $86.65.

Docusign (NASDAQ:DOCU - Get Free Report) last posted its quarterly earnings results on Thursday, June 4th. The company reported $1.09 earnings per share for the quarter, beating analysts' consensus estimates of $0.99 by $0.10. Docusign had a return on equity of 17.48% and a net margin of 9.59%.The business had revenue of $830.24 million for the quarter, compared to analysts' expectations of $824.71 million. During the same quarter in the prior year, the business earned $0.90 EPS. The firm's revenue for the quarter was up 8.7% on a year-over-year basis. As a group, research analysts anticipate that Docusign Inc. will post 2.04 EPS for the current fiscal year.

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.

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