Hohimer Wealth Management LLC Purchases New Stake in Docusign Inc. $DOCU

Key Points

• Hohimer Wealth Management opened a new DocuSign position, buying 23,574 shares worth approximately $1.58 million in the third quarter.
• Company insiders sold 154,168 shares valued at about $10.49 million over the last quarter; the CEO’s and a director’s reported sales were made under pre-arranged Rule 10b5-1 plans.
• DocuSign beat quarterly earnings and revenue estimates, with revenue up 9.4% year over year. Analysts’ consensus rating was Hold, with an average price target of $67.62.

Hohimer Wealth Management LLC acquired a new position in shares of Docusign Inc. (NASDAQ:DOCU - Free Report) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 23,574 shares of the company's stock, valued at approximately $1,583,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Choreo LLC increased its stake in shares of Docusign by 1.8% in the 3rd quarter. Choreo LLC now owns 7,430 shares of the company's stock worth $499,000 after acquiring an additional 129 shares during the last quarter. Covestor Ltd raised its holdings in shares of Docusign by 14.1% during the 3rd quarter. Covestor Ltd now owns 1,693 shares of the company's stock worth $113,000 after acquiring an additional 209 shares during the period. Pzena Investment Management LLC boosted its position in shares of Docusign by 4.7% during the 3rd quarter. Pzena Investment Management LLC now owns 4,720 shares of the company's stock valued at $317,000 after acquiring an additional 210 shares during the last quarter. Riversedge Advisors LLC boosted its position in shares of Docusign by 4.5% during the 3rd quarter. Riversedge Advisors LLC now owns 5,182 shares of the company's stock valued at $348,000 after acquiring an additional 225 shares during the last quarter. Finally, First Citizens Bank & Trust Co. boosted its position in shares of Docusign by 2.1% during 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 last quarter. Institutional investors and hedge funds own 77.64% of the company's stock.

Insider Buying and Selling

In other news, CEO Allan C. Thygesen sold 26,250 shares of the firm's stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $69.29, for a total transaction of $1,818,862.50. Following the completion of the transaction, the chief executive officer directly owned 166,801 shares in the company, valued at $11,557,641.29. This trade represents a 13.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mary Wilderotter sold 1,000 shares of the firm's stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $68.80, for a total value of $68,800.00. Following the transaction, the director owned 2,199 shares of the company's stock, valued at approximately $151,291.20. This represents a 31.26% 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 have sold 154,168 shares of company stock valued at $10,491,896 over the last quarter. 0.59% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Wall Street Zen cut shares of Docusign from a "strong-buy" rating to a "buy" rating in a research report on Sunday, August 2nd. Citizens Jmp reaffirmed a "market outperform" rating and set a $86.00 target price on shares of Docusign in a research note on Friday, September 4th. Piper Sandler boosted their target price on shares of Docusign from $52.00 to $75.00 and gave the company a "neutral" rating in a report on Friday, September 4th. BTIG Research raised their price target on shares of Docusign from $60.00 to $75.00 and gave the stock a "buy" rating in a report on Wednesday, September 2nd. Finally, Morgan Stanley lifted their price target on shares of Docusign from $69.00 to $75.00 and gave the company an "equal weight" rating in a research report on Friday, September 4th. Three research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $67.62.

Docusign Price Performance

Shares of DOCU opened at $77.75 on Tuesday. Docusign Inc. has a 1-year low of $40.16 and a 1-year high of $85.90. The stock has a market cap of $14.53 billion, a PE ratio of 47.92, a P/E/G ratio of 2.96 and a beta of 0.80. The firm has a 50-day simple moving average of $72.88 and a two-hundred day simple moving average of $55.34.

Docusign (NASDAQ:DOCU - Get Free Report) last released its quarterly earnings results on Thursday, September 3rd. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.09 by $0.07. Docusign had a net margin of 9.82% and a return on equity of 18.29%. The business had revenue of $875.75 million for the quarter, compared to the consensus estimate of $867.22 million. During the same period in the previous year, the firm earned $0.30 EPS. The business's revenue was up 9.4% on a year-over-year basis. As a group, sell-side analysts expect that Docusign Inc. will post 2.15 earnings per share for the current fiscal year.

Docusign Company Profile

DocuSign, Inc provides software for preparing, signing, managing and automating agreements. Its platform helps businesses and individuals complete agreements digitally, reducing reliance on paper-based processes.

The company's offerings include DocuSign eSignature, which enables users to sign and request signatures electronically, as well as tools for contract lifecycle management and agreement workflows. Its Intelligent Agreement Management products use artificial intelligence to help organizations analyze and manage agreement-related information and processes.

Founded in 2003, DocuSign serves customers across industries and operates internationally.

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