BlackRock Inc. bought a new stake in Docusign Inc. (NASDAQ:DOCU - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 20,870,306 shares of the company's stock, valued at approximately $927,059,000. BlackRock Inc. owned 10.93% of Docusign as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also made changes to their positions in the company. Modus Advisors LLC acquired a new stake in shares of Docusign during the 4th quarter valued at approximately $27,000. Torren Management LLC purchased a new stake in Docusign during the fourth quarter worth $28,000. Cary Street Partners Investment Advisory LLC increased its holdings in Docusign by 309.5% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 561 shares of the company's stock valued at $38,000 after acquiring an additional 424 shares in the last quarter. Basepoint Wealth LLC acquired a new stake in Docusign during the 4th quarter valued at $39,000. Finally, WealthCollab LLC lifted its stake in shares of Docusign by 372.4% during the first quarter. WealthCollab LLC now owns 855 shares of the company's stock valued at $41,000 after buying an additional 674 shares during the period. Hedge funds and other institutional investors own 77.64% of the company's stock.
Analyst Upgrades and Downgrades
A number of analysts have issued reports on the company. BTIG Research decreased their price target on Docusign from $70.00 to $60.00 and set a "buy" rating on the stock in a research note on Friday, June 5th. Needham & Company LLC reaffirmed a "hold" rating on shares of Docusign in a research note on Friday, June 5th. Wedbush decreased their price target on shares of Docusign from $60.00 to $58.00 and set a "neutral" rating on the stock in a 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. Finally, Jefferies Financial Group upped their price objective on Docusign from $45.00 to $50.00 and gave the stock a "hold" rating in a report on Friday, June 5th. Four analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Docusign has a consensus rating of "Hold" and an average price target of $60.27.
Read Our Latest Analysis on DOCU
Insider Transactions at Docusign
In other Docusign news, insider Robert Chatwani sold 15,902 shares of the firm's stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $43.01, for a total value of $683,945.02. Following the transaction, the insider owned 72,805 shares of the company's stock, valued at $3,131,343.05. This trade represents a 17.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Allan C. Thygesen sold 26,250 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer directly owned 159,038 shares in the company, valued at $7,318,928.76. This represents a 14.17% decrease in their position. 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. Insiders sold 91,695 shares of company stock valued at $4,376,002 over the last 90 days. Corporate insiders own 0.59% of the company's stock.
Docusign Price Performance
Shares of Docusign stock opened at $62.00 on Friday. Docusign Inc. has a 1-year low of $40.16 and a 1-year high of $86.65. The company has a market capitalization of $11.84 billion, a PE ratio of 40.26, a P/E/G ratio of 1.83 and a beta of 0.87. The business has a 50-day moving average of $51.59 and a 200-day moving average of $48.64.
Docusign (NASDAQ:DOCU - Get Free Report) last released its quarterly earnings results on Thursday, June 4th. The company reported $1.09 EPS for the quarter, topping the consensus estimate of $0.99 by $0.10. Docusign had a return on equity of 17.48% and a net margin of 9.59%.The business had revenue of $830.24 million for the quarter, compared to analysts' expectations of $824.71 million. During the same quarter in the previous year, the firm posted $0.90 earnings per share. The company's revenue was up 8.7% compared to the same quarter last year. On average, equities analysts expect that Docusign Inc. will post 2.04 earnings per share for the current fiscal year.
About Docusign
(
Free Report)
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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