Docusign Inc. $DOCU Stake Lifted by International Assets Investment Management LLC

Key Points

• International Assets Investment Management increased its DocuSign stake by 3,145.9% in the third quarter, owning 250,000 shares valued at approximately $16.8 million. Institutional investors collectively hold 77.64% of the company.
• DocuSign exceeded quarterly expectations, reporting $1.16 in adjusted EPS versus $1.09 expected and revenue of $875.75 million, up 9.4% year over year.
• Despite analyst target increases, Wall Street’s consensus remains “Hold” with a $67.62 target price, below the reported $82.17 share price. Company insiders sold $11.1 million in stock during the latest quarter under pre-arranged trading plans.

International Assets Investment Management LLC raised its stake in Docusign Inc. (NASDAQ:DOCU - Free Report) by 3,145.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 250,000 shares of the company's stock after acquiring an additional 242,298 shares during the quarter. International Assets Investment Management LLC owned approximately 0.13% of Docusign worth $16,788,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of DOCU. Parcion Private Wealth LLC increased its holdings in shares of Docusign by 19.0% during the 3rd quarter. Parcion Private Wealth LLC now owns 6,727 shares of the company's stock valued at $452,000 after purchasing an additional 1,072 shares in the last quarter. Soltis Investment Advisors LLC acquired a new position in shares of Docusign in the 3rd quarter valued at $290,000. Choreo LLC lifted its stake in shares of Docusign by 1.8% in the 3rd quarter. Choreo LLC now owns 7,430 shares of the company's stock valued at $499,000 after purchasing an additional 129 shares during the period. Interchange Capital Partners LLC purchased a new stake in Docusign during the third quarter worth $239,000. Finally, Childress Capital Advisors LLC purchased a new stake in Docusign during the third quarter worth $288,000. Hedge funds and other institutional investors own 77.64% of the company's stock.

Docusign Stock Performance

NASDAQ:DOCU opened at $82.17 on Friday. The company has a fifty day moving average of $70.79 and a two-hundred day moving average of $54.73. The stock has a market capitalization of $15.36 billion, a PE ratio of 50.10, a P/E/G ratio of 3.02 and a beta of 0.86. Docusign Inc. has a fifty-two week low of $40.16 and a fifty-two week high of $85.90.

Docusign (NASDAQ:DOCU - Get Free Report) last posted its quarterly earnings data on Thursday, September 3rd. The company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.07. The business had revenue of $875.75 million for the quarter, compared to the consensus estimate of $867.22 million. Docusign had a net margin of 9.82% and a return on equity of 18.29%. The company's revenue was up 9.4% compared to the same quarter last year. During the same period last year, the firm posted $0.30 earnings per share. Research analysts forecast that Docusign Inc. will post 2.15 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Citizens Jmp restated a "market outperform" rating and set a $86.00 price target on shares of Docusign in a research report on Friday, September 4th. UBS Group upped their price objective on shares of Docusign from $54.00 to $70.00 and gave the stock a "neutral" rating in a research report on Friday, September 4th. BTIG Research increased their target price on shares of Docusign from $60.00 to $75.00 and gave the stock a "buy" rating in a research note on Wednesday, September 2nd. Bank of America raised their target price on Docusign from $58.00 to $64.00 and gave the company an "underperform" rating in a research report on Friday, September 4th. Finally, Evercore set a $65.00 target price on Docusign in a research report on Friday, September 4th. Three equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $67.62.

Insider Buying and Selling

In other Docusign news, insider James P. Shaughnessy sold 12,000 shares of the stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $68.80, for a total transaction of $825,600.00. Following the completion of the transaction, the insider owned 50,591 shares of the company's stock, valued at $3,480,660.80. This represents a 19.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Paula Hansen sold 3,300 shares of the business's stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $68.81, for a total value of $227,073.00. Following the sale, the executive owned 106,557 shares of the company's stock, valued at $7,332,187.17. The trade was a 3.00% 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. Insiders sold a total of 165,868 shares of company stock worth $11,121,890 in the last quarter. 0.59% of the stock is owned by insiders.

Docusign Profile

DocuSign, Inc is a software company that provides digital agreement and electronic signature solutions. Its platform enables individuals and organizations to prepare, send, sign, manage and store agreements electronically, helping customers replace paper-based contracting processes with digital workflows.

The company's offerings include eSignature, contract lifecycle management, identity verification, notarization and agreement analytics tools. These products are designed to support agreement creation, negotiation, execution and post-signature management across functions such as sales, human resources, procurement, legal and finance.

Founded in 2003, DocuSign serves businesses, government organizations and individual users in markets around the world.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.