Harel Insurance Investments & Financial Services Ltd. Raises Stock Holdings in Docusign Inc. $DOCU

Key Points

• Harel Insurance Investments & Financial Services increased its DocuSign stake by 46.3% in the first quarter, ending with 115,884 shares valued at about $5.5 million.
• Several other institutional investors also added to or initiated positions, and institutional ownership now stands at 77.64% of DocuSign’s shares.
• Analysts remain cautious: the stock’s consensus rating is Hold, with an average price target of $60.27, while recent insider sales included transactions by CFO Blake Jeffrey Grayson and insider Robert Chatwani.

Harel Insurance Investments & Financial Services Ltd. lifted its holdings in shares of Docusign Inc. (NASDAQ:DOCU - Free Report) by 46.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 115,884 shares of the company's stock after purchasing an additional 36,674 shares during the period. Harel Insurance Investments & Financial Services Ltd. owned about 0.06% of Docusign worth $5,494,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the company. Hillsdale Investment Management Inc. lifted its holdings in Docusign by 20.0% during the first quarter. Hillsdale Investment Management Inc. now owns 15,480 shares of the company's stock valued at $734,000 after purchasing an additional 2,580 shares during the last quarter. Calamos Wealth Management LLC bought a new position in Docusign in the 1st quarter worth about $354,000. Calamos Advisors LLC bought a new position in shares of Docusign in the first quarter worth approximately $354,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its holdings in shares of Docusign by 22.8% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 9,057 shares of the company's stock worth $429,000 after acquiring an additional 1,684 shares during the last quarter. Finally, State of Michigan Retirement System lifted its stake in Docusign by 1.5% during the first quarter. State of Michigan Retirement System now owns 48,200 shares of the company's stock worth $2,285,000 after purchasing an additional 700 shares during the last quarter. Hedge funds and other institutional investors own 77.64% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. JPMorgan Chase & Co. dropped their target price on Docusign from $78.00 to $65.00 and set a "neutral" rating for the company in a research report on Wednesday, March 18th. Needham & Company LLC restated a "hold" rating on shares of Docusign in a report on Friday, June 5th. Bank of America began coverage on shares of Docusign in a report on Tuesday, March 31st. They set an "underperform" rating and a $52.00 target price on the stock. Morgan Stanley decreased their price target on Docusign from $90.00 to $69.00 and set an "equal weight" rating on the stock in a research note on Wednesday, March 18th. Finally, Piper Sandler lowered their price objective on Docusign from $75.00 to $52.00 and set a "neutral" rating for the company in a research report on Wednesday, March 18th. Three analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $60.27.

Insider Buying and Selling at Docusign

In other news, CFO Blake Jeffrey Grayson sold 15,000 shares of Docusign stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $45.55, for a total transaction of $683,250.00. Following the transaction, the chief financial officer directly owned 141,429 shares of the company's stock, valued at $6,442,090.95. The trade was a 9.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robert Chatwani sold 15,902 shares of the business's stock in a transaction that occurred 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 transaction, the insider owned 72,805 shares of the company's stock, valued at approximately $3,131,343.05. This trade represents a 17.93% 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. Over the last quarter, insiders sold 76,695 shares of company stock worth $3,476,002. 0.59% of the stock is owned by corporate insiders.

Docusign Stock Up 3.6%

DOCU opened at $51.16 on Thursday. Docusign Inc. has a 52 week low of $40.16 and a 52 week high of $86.65. The stock has a market cap of $9.77 billion, a PE ratio of 33.22, a PEG ratio of 1.46 and a beta of 0.90. The business has a 50 day moving average of $47.24 and a 200-day moving average of $49.62.

Docusign (NASDAQ:DOCU - Get Free Report) last posted its quarterly earnings data 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 net margin of 9.59% and a return on equity of 17.48%. The business had revenue of $830.24 million for the quarter, compared to analyst estimates of $824.71 million. During the same quarter in the previous year, the firm posted $0.90 earnings per share. Docusign's quarterly revenue was up 8.7% on a year-over-year basis. Equities analysts anticipate that Docusign Inc. will post 2.03 EPS for the current year.

About Docusign

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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