164,095 Docusign Inc. $DOCU Shares Sold by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management cut its Docusign stake by 47%, selling 164,095 shares in the third quarter and retaining 184,943 shares valued at approximately $12.4 million.
• Docusign reported quarterly EPS of $1.16, exceeding estimates of $1.09, while revenue rose 9.4% year over year to $875.75 million. Institutional investors collectively own 77.64% of the company.
• The stock opened at $76.66, near its 52-week high of $78.80, but analysts maintain a consensus “Hold” rating with an average price target of $67.62; insiders have also sold roughly $11.1 million of shares over the past 90 days.

Assenagon Asset Management S.A. lowered its stake in Docusign Inc. (NASDAQ:DOCU - Free Report) by 47.0% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 184,943 shares of the company's stock after selling 164,095 shares during the quarter. Assenagon Asset Management S.A. owned 0.10% of Docusign worth $12,419,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of DOCU. BlackRock Inc. acquired a new position in shares of Docusign during the second quarter valued at about $927,059,000. Arrowstreet Capital Limited Partnership boosted its position in shares of Docusign by 76.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 5,285,128 shares of the company's stock worth $250,568,000 after purchasing an additional 2,283,996 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Docusign by 4.0% during the 1st quarter. Renaissance Technologies LLC now owns 3,170,061 shares of the company's stock worth $150,293,000 after purchasing an additional 123,100 shares in the last quarter. Quantinno Capital Management LP boosted its position in shares of Docusign by 51.9% during the 1st quarter. Quantinno Capital Management LP now owns 1,608,631 shares of the company's stock worth $76,265,000 after purchasing an additional 549,603 shares in the last quarter. Finally, SG Americas Securities LLC grew its stake in shares of Docusign by 452.3% in the 1st quarter. SG Americas Securities LLC now owns 1,314,632 shares of the company's stock valued at $62,327,000 after buying an additional 1,076,622 shares during the period. Institutional investors own 77.64% of the company's stock.

Docusign Stock Up 2.7%

Shares of Docusign stock opened at $76.66 on Tuesday. Docusign Inc. has a 52 week low of $40.16 and a 52 week high of $78.80. The business has a 50 day moving average price of $67.00 and a 200-day moving average price of $54.97. The company has a market cap of $14.33 billion, a PE ratio of 44.44, a price-to-earnings-growth ratio of 2.76 and a beta of 0.86.

Docusign (NASDAQ:DOCU - Get Free Report) last announced its earnings results on Thursday, September 3rd. The company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.07. Docusign had a return on equity of 18.29% and a net margin of 9.82%. The company had revenue of $875.75 million for the quarter, compared to analysts' expectations of $867.22 million. During the same quarter in the previous year, the firm earned $0.30 earnings per share. Docusign's quarterly revenue was up 9.4% on a year-over-year basis. As a group, research analysts anticipate that Docusign Inc. will post 2.14 EPS for the current year.

Wall Street Analysts Forecast Growth

DOCU has been the subject of a number of research analyst reports. Piper Sandler boosted their target price on Docusign from $52.00 to $75.00 and gave the company a "neutral" rating in a research report on Friday, September 4th. Wall Street Zen downgraded Docusign from a "strong-buy" rating to a "buy" rating in a research note on Sunday, August 2nd. Bank of America increased their price target on Docusign from $58.00 to $64.00 and gave the stock an "underperform" rating in a report on Friday, September 4th. Wells Fargo & Company raised their price objective on Docusign from $55.00 to $60.00 and gave the company an "equal weight" rating in a research note on Friday, September 4th. Finally, BTIG Research boosted their price objective on Docusign from $60.00 to $75.00 and gave the company a "buy" rating in a report on Wednesday, September 2nd. Three 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. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $67.62.

Insider Transactions at Docusign

In related news, insider James P. Shaughnessy sold 12,000 shares of the firm's stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $68.80, for a total transaction of $825,600.00. Following the transaction, the insider directly owned 50,591 shares of the company's stock, valued at $3,480,660.80. This trade represents a 19.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mary Wilderotter sold 1,000 shares of the firm's stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $68.80, for a total transaction of $68,800.00. Following the transaction, the director directly owned 2,199 shares in the company, valued at $151,291.20. The trade was a 31.26% 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. Over the last 90 days, insiders have sold 165,868 shares of company stock worth $11,121,890. 0.59% of the stock is owned by insiders.

Docusign Company Profile

DocuSign, Inc is a software company that provides digital agreement and electronic signature solutions. Its platform enables individuals and organizations to prepare, send, sign, manage and store agreements electronically, helping customers replace paper-based contracting processes with digital workflows.

The company's offerings include eSignature, contract lifecycle management, identity verification, notarization and agreement analytics tools. These products are designed to support agreement creation, negotiation, execution and post-signature management across functions such as sales, human resources, procurement, legal and finance.

Founded in 2003, DocuSign serves businesses, government organizations and individual users in markets around the world.

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