Assenagon Asset Management S.A. Buys 248,597 Shares of Docusign Inc. $DOCU

Key Points

• Assenagon Asset Management increased its Docusign stake by 247.5% in the second quarter, purchasing 248,597 additional shares and bringing its holdings to 349,038 shares worth approximately $15.5 million.
• Docusign exceeded quarterly expectations, reporting $1.09 in EPS versus the $0.99 consensus estimate and $830.24 million in revenue, up 8.7% year over year. The stock opened at $59.64, within its 52-week range of $40.16 to $86.65.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and an average price target of $60.27. Meanwhile, company insiders sold 76,695 shares worth about $3.48 million over the past 90 days.

Assenagon Asset Management S.A. boosted its stake in shares of Docusign Inc. (NASDAQ:DOCU - Free Report) by 247.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 349,038 shares of the company's stock after purchasing an additional 248,597 shares during the period. Assenagon Asset Management S.A. owned 0.18% of Docusign worth $15,504,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in DOCU. Smartleaf Asset Management LLC grew its holdings in Docusign by 8.2% during the second quarter. Smartleaf Asset Management LLC now owns 2,169 shares of the company's stock worth $166,000 after purchasing an additional 165 shares during the period. Centaurus Financial Inc. raised its stake in Docusign by 3.4% in the third quarter. Centaurus Financial Inc. now owns 5,582 shares of the company's stock valued at $402,000 after buying an additional 184 shares during the period. Tred Avon Family Wealth LLC lifted its position in shares of Docusign by 3.6% in 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 during the last quarter. Sanctuary Advisors LLC lifted its position in shares of Docusign by 2.4% in 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 during the last quarter. Finally, First Citizens Bank & Trust Co. boosted its stake in shares of Docusign by 2.1% during the 1st quarter. First Citizens Bank & Trust Co. now owns 11,745 shares of the company's stock worth $557,000 after acquiring an additional 239 shares during the period. Institutional investors and hedge funds own 77.64% of the company's stock.

Insiders Place Their Bets

In other Docusign news, CFO Blake Jeffrey Grayson sold 15,000 shares of the firm's stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $45.55, for a total value of $683,250.00. Following the transaction, the chief financial officer directly owned 141,429 shares of the company's stock, valued at $6,442,090.95. This trade represents a 9.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 the business's stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $45.54, for a total transaction of $273,240.00. Following the completion of the transaction, the executive owned 89,972 shares of the company's stock, valued at $4,097,324.88. The trade was a 6.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 76,695 shares of company stock valued at $3,476,002 over the last 90 days. 0.59% of the stock is owned by company insiders.

Docusign Price Performance

DOCU stock opened at $59.64 on Tuesday. Docusign Inc. has a fifty-two week low of $40.16 and a fifty-two week high of $86.65. The stock has a market capitalization of $11.39 billion, a price-to-earnings ratio of 38.73, a PEG ratio of 1.78 and a beta of 0.87. The business's fifty day moving average price is $49.23 and its two-hundred day moving average price is $48.26.

Docusign (NASDAQ:DOCU - Get Free Report) last announced its earnings results on Thursday, June 4th. The company reported $1.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.99 by $0.10. Docusign had a net margin of 9.59% and a return on equity of 17.48%. The company had revenue of $830.24 million during the quarter, compared to analysts' expectations of $824.71 million. During the same quarter in the previous year, the business posted $0.90 earnings per share. Docusign's quarterly revenue was up 8.7% on a year-over-year basis. Research analysts expect that Docusign Inc. will post 2.03 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently weighed in on DOCU. Needham & Company LLC restated a "hold" rating on shares of Docusign in a research note on Friday, June 5th. Wall Street Zen cut shares of Docusign from a "strong-buy" rating to a "buy" rating in a research report on Sunday, August 2nd. BTIG Research decreased 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. Wells Fargo & Company dropped their price objective on shares of Docusign from $60.00 to $55.00 and set an "equal weight" rating on the stock in a research report on Friday, June 5th. Finally, Wedbush cut their target price on shares of Docusign from $60.00 to $58.00 and set a "neutral" rating for the company in a research note on Friday, June 5th. Three equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $60.27.

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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