Clear Harbor Asset Management LLC Makes New $1.43 Million Investment in Docusign Inc. $DOCU

Key Points

• Clear Harbor Asset Management acquired 32,293 DocuSign shares in the second quarter, valued at approximately $1.43 million. Institutional investors collectively own 77.64% of the company.
• DocuSign insiders sold 91,695 shares worth about $4.38 million over the past 90 days, including sales by CEO Allan C. Thygesen and insider Robert Chatwani under pre-arranged trading plans.
• DocuSign exceeded quarterly expectations with adjusted earnings of $1.09 per share and revenue of $830.24 million, up 8.7% year over year. Analysts’ consensus rating is “Hold,” with an average price target of $60.27.

Clear Harbor Asset Management LLC acquired a new stake in shares of Docusign Inc. (NASDAQ:DOCU - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 32,293 shares of the company's stock, valued at approximately $1,434,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Modus Advisors LLC bought a new stake in Docusign in the 4th quarter valued at $27,000. Torren Management LLC bought a new position in shares of Docusign during the 4th quarter valued at about $28,000. Cary Street Partners Investment Advisory LLC boosted its holdings in shares of 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 purchasing an additional 424 shares during the last quarter. Basepoint Wealth LLC purchased a new position in shares of Docusign during the fourth quarter valued at about $39,000. Finally, WealthCollab LLC grew its position 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 purchasing an additional 674 shares in the last quarter. Institutional investors own 77.64% of the company's stock.

Insiders Place Their Bets

In other Docusign news, insider Robert Chatwani sold 15,902 shares of the stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $43.01, for a total value of $683,945.02. Following the sale, the insider owned 72,805 shares in the company, valued at $3,131,343.05. This trade represents a 17.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 value of $1,208,025.00. Following 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 91,695 shares of company stock valued at $4,376,002. Insiders own 0.59% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on DOCU. Jefferies Financial Group boosted their target price on 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 target on Docusign in a report on Friday, June 5th. Citigroup reaffirmed a "market outperform" rating on shares of Docusign in a research note on Tuesday. Needham & Company LLC reaffirmed a "hold" rating on shares of Docusign in a report on Friday, June 5th. Finally, Wall Street Zen downgraded Docusign from a "strong-buy" rating to a "buy" rating in a research report on Sunday, August 2nd. Four analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Docusign presently has an average rating of "Hold" and an average target price of $60.27.

Docusign Price Performance

Shares of NASDAQ:DOCU opened at $62.00 on Friday. The firm has a market capitalization of $11.84 billion, a PE ratio of 40.26, a price-to-earnings-growth ratio of 1.83 and a beta of 0.87. The business has a 50 day simple moving average of $51.59 and a two-hundred day simple moving average of $48.64. Docusign Inc. has a 1 year low of $40.16 and a 1 year high of $86.65.

Docusign (NASDAQ:DOCU - Get Free Report) last issued its quarterly earnings results on Thursday, June 4th. The company reported $1.09 earnings per share 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 firm had revenue of $830.24 million for the quarter, compared to the consensus estimate of $824.71 million. During the same period in the prior year, the business posted $0.90 earnings per share. The company's revenue for the quarter was up 8.7% on a year-over-year basis. Equities research analysts expect that Docusign Inc. will post 2.04 EPS for the current fiscal year.

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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