Docusign Inc. $DOCU Shares Bought by Bank of America Corp DE

Key Points

• Bank of America increased its DocuSign stake by 23.3% in the first quarter, purchasing 225,801 additional shares and bringing its holdings to 1.19 million shares valued at approximately $56.6 million.
• Institutional investors own 77.64% of DocuSign, while recent insider sales included transactions by an executive and the CFO under pre-arranged Rule 10b5-1 plans.
• Analysts maintain a generally cautious outlook, with an average rating of “Hold” and a $60.27 price target. DocuSign recently beat quarterly earnings and revenue estimates, reporting $1.09 EPS and $830.24 million in revenue, up 8.7% year over year.

Bank of America Corp DE increased its stake in shares of Docusign Inc. (NASDAQ:DOCU - Free Report) by 23.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,193,163 shares of the company's stock after purchasing an additional 225,801 shares during the period. Bank of America Corp DE owned 0.61% of Docusign worth $56,568,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DOCU. Modus Advisors LLC purchased a new position in shares of Docusign during the 4th quarter worth $27,000. Torren Management LLC purchased a new position in Docusign during the fourth quarter worth about $28,000. Cary Street Partners Investment Advisory LLC lifted its position in Docusign by 309.5% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 561 shares of the company's stock worth $38,000 after buying an additional 424 shares during the period. Basepoint Wealth LLC acquired a new stake in Docusign in the 4th quarter worth about $39,000. Finally, Harbour Investments Inc. boosted its stake in Docusign by 56.6% in the 4th quarter. Harbour Investments Inc. now owns 797 shares of the company's stock worth $55,000 after buying an additional 288 shares during the last quarter. Hedge funds and other institutional investors own 77.64% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. BTIG Research decreased their target price on shares of Docusign from $70.00 to $60.00 and set a "buy" rating on the stock in a research report on Friday, June 5th. Needham & Company LLC reaffirmed a "hold" rating on shares of Docusign in a research report on Friday, June 5th. Wall Street Zen downgraded shares of Docusign from a "strong-buy" rating to a "buy" rating in a research note on Sunday, August 2nd. Jefferies Financial Group lifted their price target on shares of Docusign from $45.00 to $50.00 and gave the company a "hold" rating in a report on Friday, June 5th. Finally, UBS Group set a $60.00 price objective on shares of Docusign in a research note on Friday, June 5th. Three investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $60.27.

Insider Activity

In other news, insider Robert Chatwani sold 15,902 shares of the stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $43.01, for a total transaction of $683,945.02. Following the sale, the insider directly owned 72,805 shares in the company, valued at approximately $3,131,343.05. This represents a 17.93% decrease in their position. The sale was disclosed in a document filed 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, CFO Blake Jeffrey Grayson sold 15,000 shares of the business's stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $60.00, for a total value of $900,000.00. Following the transaction, the chief financial officer owned 126,429 shares of the company's stock, valued at $7,585,740. This 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 have sold 91,695 shares of company stock valued at $4,376,002 over the last quarter. Corporate insiders own 0.59% of the company's stock.

Docusign Trading Down 0.5%

Shares of DOCU stock opened at $59.34 on Wednesday. The firm has a fifty day simple moving average of $49.32 and a 200-day simple moving average of $48.28. The company has a market capitalization of $11.33 billion, a PE ratio of 38.53, a price-to-earnings-growth ratio of 1.76 and a beta of 0.87. Docusign Inc. has a twelve month low of $40.16 and a twelve month high of $86.65.

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