Focus Partners Advisor Solutions LLC Invests $865,000 in Docusign Inc. $DOCU

Key Points

• Focus Partners Advisor Solutions purchased 19,464 DocuSign shares worth approximately $865,000 during the second quarter. Institutional investors collectively own 77.64% of the company.
• DocuSign exceeded quarterly expectations, reporting $1.09 in EPS versus the $0.99 consensus estimate and revenue of $830.24 million, up 8.7% year over year.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and a $60.27 price target. Insiders sold 91,695 shares worth about $4.38 million over the past three months, largely through pre-arranged trading plans.

Focus Partners Advisor Solutions LLC bought a new stake in Docusign Inc. (NASDAQ:DOCU - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 19,464 shares of the company's stock, valued at approximately $865,000.

A number of other large investors have also recently bought and sold shares of DOCU. Smartleaf Asset Management LLC increased its stake in Docusign by 8.2% in the second quarter. Smartleaf Asset Management LLC now owns 2,169 shares of the company's stock valued at $166,000 after purchasing an additional 165 shares during the period. Centaurus Financial Inc. boosted its stake in shares of Docusign by 3.4% during the third quarter. Centaurus Financial Inc. now owns 5,582 shares of the company's stock worth $402,000 after buying an additional 184 shares during the period. Tred Avon Family Wealth LLC grew its holdings in shares of Docusign by 3.6% during the first quarter. Tred Avon Family Wealth LLC now owns 6,176 shares of the company's stock worth $293,000 after buying an additional 215 shares during the last quarter. Sanctuary Advisors LLC increased its position in Docusign by 2.4% in the 4th quarter. Sanctuary Advisors LLC now owns 9,685 shares of the company's stock valued at $662,000 after acquiring an additional 231 shares during the period. Finally, First Citizens Bank & Trust Co. increased its position in Docusign by 2.1% in the 1st quarter. First Citizens Bank & Trust Co. now owns 11,745 shares of the company's stock valued at $557,000 after acquiring an additional 239 shares during the period. Institutional investors and hedge funds own 77.64% of the company's stock.

Docusign Trading Down 3.6%

NASDAQ DOCU opened at $59.82 on Tuesday. The business's 50 day moving average is $50.26 and its two-hundred day moving average is $48.39. Docusign Inc. has a 12-month low of $40.16 and a 12-month high of $86.65. The stock has a market capitalization of $11.42 billion, a price-to-earnings ratio of 38.84, a PEG ratio of 1.83 and a beta of 0.87.

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

Insider Activity

In other Docusign news, CRO Paula Hansen sold 6,000 shares of the business's stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $45.54, for a total transaction of $273,240.00. Following the sale, the executive directly owned 89,972 shares in the company, valued at approximately $4,097,324.88. The trade was a 6.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 company's stock in a transaction on Friday, August 7th. The stock was sold at an average price of $60.00, for a total transaction of $900,000.00. Following the transaction, the chief financial officer directly owned 126,429 shares in the company, valued at approximately $7,585,740. This trade represents a 10.61% 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 have sold a total of 91,695 shares of company stock valued at $4,376,002 over the last three months. 0.59% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on DOCU. Weiss Ratings raised Docusign from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, July 14th. Wall Street Zen lowered Docusign from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 2nd. Wedbush cut their price target on Docusign from $60.00 to $58.00 and set a "neutral" rating for the company in a research note on Friday, June 5th. Citigroup lifted their price objective on shares of Docusign from $50.00 to $54.00 and gave the company a "neutral" rating in a research report on Friday, June 5th. Finally, Jefferies Financial Group boosted their price objective on shares of Docusign from $45.00 to $50.00 and gave the company a "hold" rating in a research note on Friday, June 5th. Three analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Docusign currently has a consensus rating of "Hold" and a consensus 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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