Algert Global LLC Sells 125,718 Shares of Docusign Inc. $DOCU

Key Points

• Algert Global reduced its DocuSign stake by 27.2% in the second quarter, selling 125,718 shares and retaining 336,077 shares worth approximately $14.9 million. Institutional investors collectively own 77.64% of the company.
• DocuSign exceeded quarterly expectations, reporting $1.09 in EPS versus the $0.99 consensus and revenue of $830.24 million, up 8.7% year over year.
• Analyst sentiment remains mixed, with the stock holding an average “Hold” rating and a $60.27 price target; insiders have sold 91,695 shares worth $4.38 million over the past 90 days.

Algert Global LLC lessened its holdings in Docusign Inc. (NASDAQ:DOCU - Free Report) by 27.2% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 336,077 shares of the company's stock after selling 125,718 shares during the period. Algert Global LLC owned about 0.18% of Docusign worth $14,929,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Bank of America Corp DE raised its holdings in Docusign by 23.3% in the first quarter. Bank of America Corp DE now owns 1,193,163 shares of the company's stock worth $56,568,000 after purchasing an additional 225,801 shares in the last quarter. Capital World Investors boosted 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 valued at $397,801,000 after buying an additional 1,603,900 shares in the last quarter. Assenagon Asset Management S.A. grew its position in shares of Docusign by 247.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 349,038 shares of the company's stock worth $15,504,000 after buying an additional 248,597 shares during the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new position in shares of Docusign in the 4th quarter worth approximately $6,897,000. Finally, Los Angeles Capital Management LLC bought a new position in shares of Docusign during the 4th quarter worth approximately $1,750,000. 77.64% of the stock is currently owned by institutional investors.

Docusign Stock Down 3.2%

Shares of NASDAQ DOCU opened at $60.54 on Wednesday. The business's 50 day moving average price is $52.28 and its 200 day moving average price is $48.83. The firm has a market cap of $11.56 billion, a P/E ratio of 39.31, a P/E/G ratio of 1.83 and a beta of 0.87. Docusign Inc. has a 52 week low of $40.16 and a 52 week 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 (EPS) for the quarter, topping analysts' consensus estimates of $0.99 by $0.10. The company had revenue of $830.24 million during 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%. Docusign's revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period last year, the firm posted $0.90 EPS. As a group, research analysts expect that Docusign Inc. will post 2.04 earnings per share for the current year.

Insider Buying and Selling

In other Docusign news, insider Robert Chatwani sold 15,902 shares of Docusign stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $43.01, for a total transaction of $683,945.02. Following the completion of the transaction, the insider owned 72,805 shares in the company, valued at approximately $3,131,343.05. This trade represents a 17.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Blake Jeffrey Grayson sold 15,000 shares of the business's stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $60.00, for a total value of $900,000.00. Following the completion of the transaction, the chief financial officer directly owned 126,429 shares of the company's stock, valued at approximately $7,585,740. This trade represents a 10.61% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 91,695 shares of company stock valued at $4,376,002 in the last 90 days. 0.59% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Jefferies Financial Group increased their target price on shares of Docusign from $45.00 to $50.00 and gave the company a "hold" rating in a research report on Friday, June 5th. Citigroup reaffirmed a "market outperform" rating on shares of Docusign in a report on Tuesday, August 18th. Wedbush cut their price target on shares of Docusign from $60.00 to $58.00 and set a "neutral" rating on the stock in a research note on Friday, June 5th. UBS Group set a $60.00 price objective on shares of Docusign in a research note on Friday, June 5th. Finally, BTIG Research dropped their price objective on shares of Docusign from $70.00 to $60.00 and set a "buy" rating on the stock in a report on Friday, June 5th. Four investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Docusign currently has an average rating of "Hold" and an average price target of $60.27.

About Docusign

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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