Empowered Funds LLC Sells 150,086 Shares of Docusign Inc. $DOCU

Key Points

• Empowered Funds LLC cut its Docusign stake by 84.8% in the first quarter, selling 150,086 shares and retaining 26,812 shares valued at approximately $1.27 million. Institutional investors collectively own 77.64% of DOCU.
• Docusign insiders sold 76,695 shares worth about $3.48 million over the past 90 days, including sales by the CFO and another insider under pre-arranged Rule 10b5-1 plans.
• Docusign reported quarterly EPS of $1.09, beating estimates by $0.10, while revenue rose 8.7% year over year to $830.24 million. Analysts maintain a consensus “Hold” rating with an average price target of $60.27.

Empowered Funds LLC decreased its stake in shares of Docusign Inc. (NASDAQ:DOCU - Free Report) by 84.8% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 26,812 shares of the company's stock after selling 150,086 shares during the period. Empowered Funds LLC's holdings in Docusign were worth $1,271,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Modus Advisors LLC acquired a new position in Docusign during the fourth quarter valued at approximately $27,000. Torren Management LLC acquired a new stake in shares of Docusign in the fourth quarter worth $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 worth $38,000 after buying an additional 424 shares during the period. Basepoint Wealth LLC bought a new stake in shares of Docusign during the 4th quarter worth $39,000. Finally, WealthCollab LLC grew its stake in Docusign by 372.4% in the 1st quarter. WealthCollab LLC now owns 855 shares of the company's stock valued at $41,000 after buying an additional 674 shares during the last quarter. 77.64% of the stock is owned by institutional investors.

Insider Buying and Selling at Docusign

In other Docusign news, CFO Blake Jeffrey Grayson sold 15,000 shares of the firm's stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $45.55, for a total transaction of $683,250.00. Following the completion of the transaction, the chief financial officer owned 141,429 shares in the company, valued at $6,442,090.95. This trade represents a 9.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider James P. Shaughnessy sold 12,000 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 transaction of $546,480.00. Following the transaction, the insider owned 52,815 shares of the company's stock, valued at approximately $2,405,195.10. This represents a 18.51% decrease in their position. 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 sold 76,695 shares of company stock worth $3,476,002 in the last 90 days. 0.59% of the stock is currently owned by insiders.

Docusign Trading Up 5.9%

DOCU opened at $60.26 on Friday. The stock has a market cap of $11.51 billion, a PE ratio of 39.13, a P/E/G ratio of 1.78 and a beta of 0.87. Docusign Inc. has a 1 year low of $40.16 and a 1 year high of $86.65. The stock's 50 day simple moving average is $49.18 and its 200-day simple moving average is $48.29.

Docusign (NASDAQ:DOCU - Get Free Report) last issued its 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 firm had revenue of $830.24 million during the quarter, compared to analysts' expectations of $824.71 million. Docusign's quarterly revenue was up 8.7% compared to the same quarter last year. During the same period last year, the business earned $0.90 earnings per share. Equities analysts forecast that Docusign Inc. will post 2.03 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Wedbush dropped their target price 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. Jefferies Financial Group upped 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. UBS Group set a $60.00 price target on Docusign in a research report on Friday, June 5th. Wall Street Zen lowered Docusign from a "strong-buy" rating to a "buy" rating in a research note on Sunday, August 2nd. Finally, Needham & Company LLC reissued a "hold" rating on shares of Docusign in a research report on Friday, June 5th. Three 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 MarketBeat, Docusign presently has a consensus rating of "Hold" and an average price target of $60.27.

Docusign Company 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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