GSA Capital Partners LLP Acquires New Position in Docusign Inc. $DOCU

Key Points

• GSA Capital Partners acquired 29,315 DocuSign shares in the second quarter, valued at approximately $1.3 million. Institutional investors collectively own 77.64% of DOCU, with several other funds also increasing their positions.
• Analyst sentiment remains cautious: DocuSign has a consensus “Hold” rating and an average price target of $60.27, despite some firms maintaining or upgrading the stock to “Buy.”
• DocuSign beat quarterly expectations, reporting $1.09 in EPS versus $0.99 expected and $830.24 million in revenue, up 8.7% year over year. However, insiders sold 91,695 shares worth $4.38 million over the past 90 days.

GSA Capital Partners LLP acquired a new stake in Docusign Inc. (NASDAQ:DOCU - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 29,315 shares of the company's stock, valued at approximately $1,302,000.

A number of other institutional investors have also modified their holdings of DOCU. Oppenheimer Asset Management Inc. purchased a new stake in shares of Docusign in the second quarter valued at approximately $302,000. Handelsbanken Fonder AB increased its holdings in Docusign by 6.3% during the 2nd quarter. Handelsbanken Fonder AB now owns 60,600 shares of the company's stock worth $2,692,000 after purchasing an additional 3,600 shares during the period. Vista Investment Partners LLC raised its position in Docusign by 38.5% during the 2nd quarter. Vista Investment Partners LLC now owns 16,902 shares of the company's stock valued at $751,000 after purchasing an additional 4,702 shares in the last quarter. Assenagon Asset Management S.A. raised its position in Docusign by 247.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 349,038 shares of the company's stock valued at $15,504,000 after purchasing an additional 248,597 shares in the last quarter. Finally, CX Institutional lifted its holdings in shares of Docusign by 231.4% in the 2nd quarter. CX Institutional now owns 1,637 shares of the company's stock worth $73,000 after buying an additional 1,143 shares during the period. 77.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on DOCU. Wells Fargo & Company dropped their price target on Docusign from $60.00 to $55.00 and set an "equal weight" rating on the stock in a research report on Friday, June 5th. Weiss Ratings raised shares of Docusign from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Tuesday, July 14th. Wall Street Zen cut shares of Docusign from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 2nd. Citigroup raised their target price 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, BTIG Research reduced their price target on shares of Docusign from $70.00 to $60.00 and set a "buy" rating for the company in a report on Friday, June 5th. Three analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $60.27.

Insider Buying and Selling

In related news, CEO Allan C. Thygesen sold 26,250 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $46.02, for a total value of $1,208,025.00. Following the completion of the transaction, the chief executive officer directly owned 159,038 shares of the company's stock, valued at $7,318,928.76. This trade represents a 14.17% decrease in their position. The sale 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 James P. Shaughnessy sold 12,000 shares of Docusign 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 owned 52,815 shares of the company's stock, valued at $2,405,195.10. This trade represents a 18.51% 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 sold a total of 91,695 shares of company stock valued at $4,376,002 in the last 90 days. 0.59% of the stock is owned by insiders.

Docusign Trading Down 3.6%

NASDAQ DOCU opened at $59.82 on Tuesday. The firm's fifty day simple moving average is $50.26 and its two-hundred day simple moving average is $48.39. Docusign Inc. has a 12-month low of $40.16 and a 12-month high of $86.65. The firm has a market capitalization of $11.42 billion, a P/E ratio of 38.84, a P/E/G ratio of 1.83 and a beta of 0.87.

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