Ieq Capital LLC Makes New $12.26 Million Investment in Docusign Inc. $DOCU

Key Points

• Ieq Capital LLC acquired 275,974 DocuSign shares worth approximately $12.26 million in the second quarter, representing a 0.14% stake.
• Institutional ownership remains high at 77.64%, with several major investors increasing their positions, including Assenagon Asset Management, which expanded its holdings by 247.5%.
• DocuSign exceeded quarterly earnings and revenue expectations, reporting $1.09 in EPS and $830.24 million in revenue, while analysts maintained a consensus “Hold” rating with an average $60.27 price target.

Ieq Capital LLC acquired a new stake in Docusign Inc. (NASDAQ:DOCU - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 275,974 shares of the company's stock, valued at approximately $12,259,000. Ieq Capital LLC owned 0.14% of Docusign at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Bank of America Corp DE raised its holdings in shares of Docusign by 23.3% in the 1st quarter. Bank of America Corp DE now owns 1,193,163 shares of the company's stock worth $56,568,000 after purchasing an additional 225,801 shares during the period. Capital World Investors grew its holdings in Docusign by 38.1% during the fourth quarter. Capital World Investors now owns 5,815,804 shares of the company's stock valued at $397,801,000 after purchasing an additional 1,603,900 shares during the period. Assenagon Asset Management S.A. grew its holdings in Docusign by 247.5% during the second 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 during the period. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new stake in Docusign in the fourth quarter worth $6,897,000. Finally, Los Angeles Capital Management LLC purchased a new stake in Docusign in the fourth quarter worth $1,750,000. 77.64% of the stock is owned by hedge funds and other institutional investors.

Docusign Stock Performance

NASDAQ:DOCU opened at $62.00 on Friday. Docusign Inc. has a 52-week low of $40.16 and a 52-week high of $86.65. The firm has a market cap of $11.84 billion, a price-to-earnings ratio of 40.26, a PEG ratio of 1.83 and a beta of 0.87. The business's fifty day moving average is $51.59 and its 200 day moving average is $48.64.

Docusign (NASDAQ:DOCU - Get Free Report) last issued its earnings results on Thursday, June 4th. The company reported $1.09 EPS for the quarter, topping the consensus estimate of $0.99 by $0.10. The business had revenue of $830.24 million during the quarter, compared to the consensus estimate of $824.71 million. Docusign had a return on equity of 17.48% and a net margin of 9.59%.The firm's revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.90 EPS. Equities analysts predict that Docusign Inc. will post 2.04 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Robert Chatwani sold 15,902 shares of the company'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 transaction of $683,945.02. Following the sale, the insider owned 72,805 shares of the company's stock, valued at approximately $3,131,343.05. This represents a 17.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Blake Jeffrey Grayson sold 15,000 shares of the stock in a transaction that occurred 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 completion of the sale, the chief financial officer owned 126,429 shares in the company, valued at $7,585,740. This 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 sold 91,695 shares of company stock valued at $4,376,002 in the last three months. Insiders own 0.59% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Wall Street Zen downgraded Docusign from a "strong-buy" rating to a "buy" rating in a research note on Sunday, August 2nd. Wells Fargo & Company dropped their price objective on shares of Docusign from $60.00 to $55.00 and set an "equal weight" rating on the stock in a report on Friday, June 5th. Jefferies Financial Group increased their target price on shares of Docusign from $45.00 to $50.00 and gave the stock a "hold" rating in a research report on Friday, June 5th. Citizens Jmp reiterated a "market outperform" rating and issued a $86.00 target price on shares of Docusign in a research note on Tuesday, August 18th. Finally, Wedbush lowered their price target on shares of Docusign from $60.00 to $58.00 and set a "neutral" rating on the stock in a research report on Friday, June 5th. Four analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $60.27.

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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