Bank of New York Mellon Corp Lowers Holdings in Docusign Inc. $DOCU

Bank of New York Mellon Corp reduced its position in shares of Docusign Inc. (NASDAQ:DOCU - Free Report) by 17.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,274,859 shares of the company's stock after selling 263,152 shares during the quarter. Bank of New York Mellon Corp owned about 0.66% of Docusign worth $60,441,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank purchased a new position in shares of Docusign during the fourth quarter valued at $186,795,000. Capital World Investors lifted its stake in Docusign by 38.1% in the fourth quarter. Capital World Investors now owns 5,815,804 shares of the company's stock worth $397,801,000 after acquiring an additional 1,603,900 shares during the period. SG Americas Securities LLC grew its holdings in Docusign by 452.3% during the 1st quarter. SG Americas Securities LLC now owns 1,314,632 shares of the company's stock worth $62,327,000 after acquiring an additional 1,076,622 shares in the last quarter. Woodline Partners LP increased its position in Docusign by 24,412.7% during the 3rd quarter. Woodline Partners LP now owns 958,938 shares of the company's stock valued at $69,130,000 after purchasing an additional 955,026 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its position in Docusign by 46.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,001,132 shares of the company's stock valued at $205,277,000 after purchasing an additional 946,512 shares during the period. 77.64% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on DOCU. Weiss Ratings raised shares of Docusign from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, July 14th. Wall Street Zen lowered shares of Docusign from a "strong-buy" rating to a "buy" rating in a report on Sunday, July 12th. Jefferies Financial Group boosted their price objective on shares of Docusign from $45.00 to $50.00 and gave the stock a "hold" rating in a research note on Friday, June 5th. BTIG Research lowered their target price on Docusign from $70.00 to $60.00 and set a "buy" rating for the company in a report on Friday, June 5th. Finally, Wedbush dropped their target price on Docusign from $60.00 to $58.00 and set a "neutral" rating on the stock in a research report on Friday, June 5th. Three investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $60.27.

Insiders Place Their Bets

In other news, insider James P. Shaughnessy sold 12,000 shares of the company's stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $45.54, for a total value of $546,480.00. Following the sale, the insider owned 52,815 shares in the company, valued at $2,405,195.10. This represents a 18.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Blake Jeffrey Grayson sold 15,000 shares of the firm's stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $45.55, for a total value of $683,250.00. Following the sale, the chief financial officer directly owned 141,429 shares in the company, valued at approximately $6,442,090.95. This trade represents a 9.59% 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 quarter, insiders have sold 76,695 shares of company stock worth $3,476,002. 0.59% of the stock is currently owned by company insiders.

Docusign Price Performance

DOCU stock opened at $47.89 on Thursday. The firm's fifty day simple moving average is $47.74 and its 200-day simple moving average is $49.00. The company has a market capitalization of $9.14 billion, a P/E ratio of 31.10, a price-to-earnings-growth ratio of 1.50 and a beta of 0.90. Docusign Inc. has a 12 month low of $40.16 and a 12 month high of $86.65.

Docusign (NASDAQ:DOCU - Get Free Report) last issued its earnings results on Thursday, June 4th. The company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.10. The firm had revenue of $830.24 million during the quarter, compared to analysts' expectations of $824.71 million. Docusign had a net margin of 9.59% and a return on equity of 17.48%. The firm's revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.90 earnings per share. As a group, sell-side analysts forecast that Docusign Inc. will post 2.03 earnings per share for the current year.

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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