304,300 Shares in Docusign Inc. $DOCU Bought by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board bought a new position in shares of Docusign Inc. (NASDAQ:DOCU - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 304,300 shares of the company's stock, valued at approximately $13,517,000. Canada Pension Plan Investment Board owned 0.16% of Docusign as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Smartleaf Asset Management LLC increased its stake in Docusign by 8.2% in the 2nd quarter. Smartleaf Asset Management LLC now owns 2,169 shares of the company's stock worth $166,000 after purchasing an additional 165 shares in the last quarter. Centaurus Financial Inc. raised its holdings in Docusign by 3.4% during the 3rd quarter. Centaurus Financial Inc. now owns 5,582 shares of the company's stock worth $402,000 after buying an additional 184 shares during the period. Tred Avon Family Wealth LLC lifted its stake in Docusign by 3.6% during the first quarter. Tred Avon Family Wealth LLC now owns 6,176 shares of the company's stock valued at $293,000 after buying an additional 215 shares in the last quarter. Sanctuary Advisors LLC lifted its stake in Docusign by 2.4% during the fourth quarter. Sanctuary Advisors LLC now owns 9,685 shares of the company's stock valued at $662,000 after buying an additional 231 shares in the last quarter. Finally, First Citizens Bank & Trust Co. boosted its holdings in shares of Docusign by 2.1% in the first quarter. First Citizens Bank & Trust Co. now owns 11,745 shares of the company's stock worth $557,000 after buying an additional 239 shares during the period. 77.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on DOCU shares. Jefferies Financial Group lifted their target price on shares of Docusign from $45.00 to $50.00 and gave the stock a "hold" rating in a research report on Friday, June 5th. UBS Group set a $60.00 price objective on shares of Docusign in a research note on Friday, June 5th. Citigroup reaffirmed a "market outperform" rating on shares of Docusign in a research note on Tuesday, August 18th. Bank of America reiterated an "underperform" rating on shares of Docusign in a research report on Friday. Finally, Wells Fargo & Company cut their target price on shares of Docusign from $60.00 to $55.00 and set an "equal weight" rating on the stock in a research note on Friday, June 5th. Four equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Docusign currently has an average rating of "Hold" and an average target price of $60.27.

More Docusign News

Here are the key news stories impacting Docusign this week:

• Positive Sentiment: Analysts at Zacks said DocuSign’s upcoming earnings report could benefit from factors supporting a potential earnings beat. The articles encourage investors to monitor earnings expectations ahead of the scheduled quarterly announcement. DocuSign Earnings Expected to Grow
• Positive Sentiment: Recent trading strength across several software stocks, including DocuSign, provided a favorable sector backdrop and helped support investor sentiment toward DOCU. Software Stocks Trade Up
• Neutral Sentiment: DocuSign’s ARR guidance is expected to receive increased attention from Bank of America. Investors will likely scrutinize recurring-revenue growth and management’s outlook because ARR is a key indicator of future subscription performance. DocuSign ARR Guidance
• Neutral Sentiment: Comparisons with Autodesk NASDAQ: ADSK frame DocuSign as a potential value opportunity within internet software, but the analysis does not represent a new company catalyst. DOCU Versus ADSK
• Negative Sentiment: Director James A. Beer sold 450 shares worth approximately $28,809. The transaction reduced his holdings by 2.99%, but it was made under a pre-arranged Rule 10b5-1 trading plan and represents only a small portion of his remaining stake, limiting its significance as a bearish signal. DocuSign Director Stock Sale Filing

Docusign Stock Performance

Shares of DOCU opened at $64.00 on Friday. The company's 50 day moving average price is $53.44 and its 200 day moving average price is $49.15. Docusign Inc. has a 52 week low of $40.16 and a 52 week high of $86.65. The company has a market capitalization of $12.22 billion, a PE ratio of 41.56, a PEG ratio of 1.86 and a beta of 0.87.

Docusign (NASDAQ:DOCU - Get Free Report) last released its quarterly earnings data on Thursday, June 4th. The company reported $1.09 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.10. The firm had revenue of $830.24 million for the quarter, compared to analyst estimates of $824.71 million. Docusign had a net margin of 9.59% and a return on equity of 17.48%. The company's revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.90 EPS. On average, equities analysts forecast that Docusign Inc. will post 2.06 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Allan C. Thygesen sold 26,250 shares of Docusign stock in a transaction on 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 completion of the sale, the chief executive officer owned 159,038 shares of the company's stock, valued at approximately $7,318,928.76. This trade represents a 14.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Paula Hansen sold 6,000 shares of Docusign stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $45.54, for a total value of $273,240.00. Following the sale, the executive directly owned 89,972 shares of the company's stock, valued at approximately $4,097,324.88. The trade was a 6.25% decrease in their position. 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 a total of 91,780 shares of company stock valued at $4,386,546 in the last three months. Company insiders own 0.59% of the company's stock.

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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