Glenmede Trust Co. NA Raises Stake in Docusign Inc. $DOCU

Key Points

• Glenmede Trust increased its DocuSign stake by 11% in the first quarter, purchasing 50,855 additional shares and bringing its holdings to 512,593 shares valued at approximately $24.3 million. Institutional investors collectively own 77.64% of DOCU.
• Analysts maintain a generally cautious outlook, with the stock receiving a consensus “Hold” rating and an average price target of $60.27. Recent target changes ranged from $50 to $60, despite BTIG retaining a “Buy” rating.
• DocuSign exceeded quarterly expectations, reporting EPS of $1.09 versus the $0.99 consensus and revenue of $830.24 million, up 8.7% year over year. Shares opened at $54.83, while insiders sold 76,695 shares worth about $3.48 million over the past three months.

Glenmede Trust Co. NA boosted its position in Docusign Inc. (NASDAQ:DOCU - Free Report) by 11.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 512,593 shares of the company's stock after buying an additional 50,855 shares during the period. Glenmede Trust Co. NA owned approximately 0.26% of Docusign worth $24,302,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analyst Ratings Changes

Several equities research analysts have commented on DOCU shares. Needham & Company LLC reaffirmed a "hold" rating on shares of Docusign in a report on Friday, June 5th. UBS Group set a $60.00 price objective on Docusign in a research note on Friday, June 5th. Jefferies Financial Group boosted their price objective on Docusign from $45.00 to $50.00 and gave the company a "hold" rating in a report on Friday, June 5th. BTIG Research lowered their target price on Docusign from $70.00 to $60.00 and set a "buy" rating on the stock in a research note on Friday, June 5th. Finally, Wells Fargo & Company dropped their target price on Docusign from $60.00 to $55.00 and set an "equal weight" rating on the stock in a 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 assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $60.27.

Insider Transactions at Docusign

In related news, insider James P. Shaughnessy sold 12,000 shares of the business's stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $45.54, for a total transaction of $546,480.00. Following the completion of the sale, the insider directly owned 52,815 shares in the company, valued at approximately $2,405,195.10. The trade was a 18.51% decrease in their ownership of the stock. 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, insider Robert Chatwani sold 15,902 shares of the stock in a transaction on 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 of the company's stock, valued at approximately $3,131,343.05. This represents a 17.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 76,695 shares of company stock valued at $3,476,002. Insiders own 0.59% of the company's stock.

Docusign Trading Up 1.0%

Shares of Docusign stock opened at $54.83 on Friday. The firm has a market capitalization of $10.47 billion, a PE ratio of 35.60, a P/E/G ratio of 1.62 and a beta of 0.90. Docusign Inc. has a twelve month low of $40.16 and a twelve month high of $86.65. The firm's 50-day moving average price is $48.42 and its 200 day moving average price is $48.46.

Docusign (NASDAQ:DOCU - Get Free Report) last posted its quarterly earnings data on Thursday, June 4th. The company reported $1.09 earnings per share (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 company had revenue of $830.24 million for the quarter, compared to analysts' expectations of $824.71 million. During the same period in the previous year, the firm posted $0.90 EPS. Docusign's revenue was up 8.7% compared to the same quarter last year. On average, sell-side analysts predict that Docusign Inc. will post 2.03 EPS for the current fiscal year.

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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