24,350 Docusign Inc. $DOCU Shares Bought by CapWealth Advisors LLC

Key Points

• CapWealth Advisors increased its DocuSign stake by 18.8% in the third quarter, purchasing 24,350 shares and bringing its total holdings to 154,028 shares valued at approximately $10.3 million.
• DocuSign reported quarterly results above expectations, with EPS of $1.16 versus the $1.09 consensus and revenue of $875.75 million, up 9.4% year over year.
• Shares traded at $69.84, while analysts maintained a consensus “Hold” rating with an average price target of $67.33; institutional investors own 77.64% of the company, while insiders sold $11.1 million of stock over the past 90 days.

CapWealth Advisors LLC increased its stake in shares of Docusign Inc. (NASDAQ:DOCU - Free Report) by 18.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 154,028 shares of the company's stock after buying an additional 24,350 shares during the period. CapWealth Advisors LLC owned about 0.08% of Docusign worth $10,343,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of Docusign during the 2nd quarter valued at approximately $927,059,000. Arrowstreet Capital Limited Partnership increased its stake 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 during the last quarter. Capital World Investors raised its holdings in shares of Docusign by 38.1% in the 4th quarter. Capital World Investors now owns 5,815,804 shares of the company's stock worth $397,801,000 after purchasing an additional 1,603,900 shares during the period. Bank of New York Mellon Corp purchased a new position in Docusign in the second quarter valued at approximately $56,219,000. Finally, Man Group plc purchased a new position in Docusign in the second quarter valued at approximately $52,714,000. Institutional investors own 77.64% of the company's stock.

Docusign Trading Up 1.2%

Shares of NASDAQ DOCU traded up $0.83 during mid-day trading on Monday, hitting $69.84. The company had a trading volume of 591,540 shares, compared to its average volume of 4,014,187. The company has a market capitalization of $13.05 billion, a price-to-earnings ratio of 42.62, a P/E/G ratio of 2.56 and a beta of 0.86. Docusign Inc. has a 1 year low of $40.16 and a 1 year high of $75.00. The stock's 50-day moving average price is $63.52 and its 200-day moving average price is $53.02.

Docusign (NASDAQ:DOCU - Get Free Report) last issued its quarterly earnings data on Thursday, September 3rd. The company reported $1.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.09 by $0.07. Docusign had a return on equity of 18.29% and a net margin of 9.82%.The business had revenue of $875.75 million for the quarter, compared to analysts' expectations of $867.22 million. During the same quarter in the prior year, the firm posted $0.30 EPS. The firm's quarterly revenue was up 9.4% on a year-over-year basis. As a group, equities research analysts forecast that Docusign Inc. will post 2.13 earnings per share for the current year.

Insider Transactions at Docusign

In related news, Director Mary Wilderotter sold 1,000 shares of the company's stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $68.80, for a total transaction of $68,800.00. Following the sale, the director owned 2,199 shares of the company's stock, valued at approximately $151,291.20. This represents a 31.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider James P. Shaughnessy sold 12,000 shares of the firm's stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $68.80, for a total transaction of $825,600.00. Following the completion of the transaction, the insider directly owned 50,591 shares of the company's stock, valued at approximately $3,480,660.80. The trade was a 19.17% 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. In the last 90 days, insiders sold 165,868 shares of company stock valued at $11,121,890. Company insiders own 0.59% of the company's stock.

Analyst Upgrades and Downgrades

DOCU has been the subject of a number of recent research reports. Citizens Jmp reissued a "market outperform" rating and issued a $86.00 target price on shares of Docusign in a research report on Friday, September 4th. Evercore set a $65.00 price target on Docusign in a research report on Friday, September 4th. Morgan Stanley boosted their price objective on Docusign from $69.00 to $75.00 and gave the company an "equal weight" rating in a research note on Friday, September 4th. Needham & Company LLC reaffirmed a "hold" rating on shares of Docusign in a report on Friday, September 4th. Finally, Wall Street Zen downgraded shares of Docusign from a "strong-buy" rating to a "buy" rating in a research note on Sunday, August 2nd. Three analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Docusign currently has a consensus rating of "Hold" and an average target price of $67.33.

About Docusign

DocuSign, Inc NASDAQ: DOCU provides cloud-based software for electronically signing, managing and automating agreements. Its platform enables individuals and organizations to prepare, send, sign, track and store documents digitally, helping replace paper-based contracting processes.

The company's offerings include electronic signature tools, contract lifecycle management, identity verification and authentication services, document generation, agreement analytics and related workflow automation capabilities.

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