Docusign Inc. $DOCU Shares Sold by First Trust Advisors LP

Key Points

• First Trust Advisors LP reduced its DocuSign stake by 4.4%, selling 41,266 shares and retaining 895,634 shares valued at approximately $42.5 million. Institutional investors collectively own 77.64% of DOCU.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and an average price target of $60.27. Ratings include three Buys, 15 Holds, and one Sell.
• DocuSign reported quarterly adjusted earnings of $1.09 per share, beating estimates of $0.99, while revenue rose 8.7% year over year to $830.24 million. Shares opened at $52.91, up 4.9% according to the article.

First Trust Advisors LP lowered its stake in Docusign Inc. (NASDAQ:DOCU - Free Report) by 4.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 895,634 shares of the company's stock after selling 41,266 shares during the period. First Trust Advisors LP owned approximately 0.46% of Docusign worth $42,462,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of DOCU. Step Capital Management Pte. Ltd. acquired a new position in Docusign during the fourth quarter worth about $2,052,000. Retirement Systems of Alabama lifted its position in shares of Docusign by 4.9% during the 4th quarter. Retirement Systems of Alabama now owns 544,473 shares of the company's stock valued at $37,242,000 after acquiring an additional 25,367 shares during the period. Capital World Investors lifted its position in shares of Docusign by 38.1% during the 4th quarter. Capital World Investors now owns 5,815,804 shares of the company's stock valued at $397,801,000 after acquiring an additional 1,603,900 shares during the period. CWM LLC lifted its position in shares of Docusign by 151.8% during the 4th quarter. CWM LLC now owns 47,290 shares of the company's stock valued at $3,235,000 after acquiring an additional 28,511 shares during the period. Finally, United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new stake in shares of Docusign during the 4th quarter worth approximately $6,897,000. Hedge funds and other institutional investors own 77.64% of the company's stock.

Analyst Upgrades and Downgrades

DOCU has been the topic of several recent research reports. Weiss Ratings upgraded shares of Docusign from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, July 14th. Needham & Company LLC restated a "hold" rating on shares of Docusign in a report on Friday, June 5th. Jefferies Financial Group lifted their target price on shares of Docusign from $45.00 to $50.00 and gave the stock a "hold" rating in a research report on Friday, June 5th. Bank of America initiated coverage on shares of Docusign in a report on Tuesday, March 31st. They issued an "underperform" rating and a $52.00 price target on the stock. Finally, Wells Fargo & Company lowered their price target 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. Three analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $60.27.

Insider Activity at Docusign

In other news, CRO Paula Hansen sold 6,000 shares of the firm'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 $273,240.00. Following the transaction, the executive directly owned 89,972 shares in the company, valued at $4,097,324.88. This trade represents a 6.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robert Chatwani sold 15,902 shares of Docusign 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 completion of the transaction, the insider directly owned 72,805 shares in the company, valued at $3,131,343.05. This represents a 17.93% 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. Insiders have sold a total of 76,695 shares of company stock valued at $3,476,002 over the last 90 days. 0.59% of the stock is currently owned by insiders.

Docusign Stock Up 4.9%

Shares of Docusign stock opened at $52.91 on Tuesday. Docusign Inc. has a fifty-two week low of $40.16 and a fifty-two week high of $86.65. The business's fifty day moving average is $47.91 and its two-hundred day moving average is $48.69. The firm has a market cap of $10.10 billion, a PE ratio of 34.36, a P/E/G ratio of 1.49 and a beta of 0.90.

Docusign (NASDAQ:DOCU - Get Free Report) last announced its quarterly earnings data on Thursday, June 4th. The company reported $1.09 EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $824.71 million. During the same quarter in the previous year, the business earned $0.90 earnings per share. The business's revenue for the quarter was up 8.7% on a year-over-year basis. Equities research analysts anticipate 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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