Pale Fire Capital SE Takes Position in Docusign Inc. $DOCU

Key Points

• Pale Fire Capital SE purchased 108,000 DocuSign shares worth approximately $4.8 million, giving it a 0.06% stake and making DOCU its 26th-largest portfolio holding.
• Institutional investors own 77.64% of DocuSign, while insiders own just 0.59%; insiders sold 90,965 shares worth approximately $4.34 million during the latest quarter, primarily under pre-arranged trading plans.
• DocuSign recently beat quarterly expectations with adjusted EPS of $1.09 versus a $0.99 consensus and revenue of $830.24 million. Despite the earnings beat and a 1.2% stock rise to $65.39, analysts maintain a consensus “Hold” rating with a $61.27 average price target.

Pale Fire Capital SE purchased a new stake in Docusign Inc. (NASDAQ:DOCU - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 108,000 shares of the company's stock, valued at approximately $4,797,000. Docusign comprises approximately 0.1% of Pale Fire Capital SE's investment portfolio, making the stock its 26th largest position. Pale Fire Capital SE owned approximately 0.06% of Docusign as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DOCU. Smartleaf Asset Management LLC increased its stake in Docusign by 8.2% during the 2nd quarter. Smartleaf Asset Management LLC now owns 2,169 shares of the company's stock worth $166,000 after buying an additional 165 shares during the period. Centaurus Financial Inc. boosted its position in Docusign by 3.4% in the 3rd quarter. Centaurus Financial Inc. now owns 5,582 shares of the company's stock valued at $402,000 after buying an additional 184 shares during the period. Tred Avon Family Wealth LLC grew its stake in shares of Docusign by 3.6% in the first quarter. Tred Avon Family Wealth LLC now owns 6,176 shares of the company's stock worth $293,000 after acquiring an additional 215 shares in the last quarter. Sanctuary Advisors LLC increased its position 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 acquiring an additional 231 shares during the period. Finally, First Citizens Bank & Trust Co. increased its position in shares of Docusign by 2.1% during the first quarter. First Citizens Bank & Trust Co. now owns 11,745 shares of the company's stock worth $557,000 after acquiring an additional 239 shares during the period. 77.64% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Docusign

In other Docusign news, CFO Blake Jeffrey Grayson sold 15,000 shares of the firm's stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $60.00, for a total transaction of $900,000.00. Following the sale, the chief financial officer directly owned 126,429 shares of the company's stock, valued at $7,585,740. This trade represents a 10.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider James P. Shaughnessy sold 12,000 shares of the business's stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $45.54, for a total transaction of $546,480.00. Following the completion of the transaction, the insider directly owned 52,815 shares of the company's stock, valued at approximately $2,405,195.10. This represents a 18.51% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 90,965 shares of company stock valued at $4,341,688. 0.59% of the stock is owned by company insiders.

Docusign Stock Up 1.2%

NASDAQ:DOCU opened at $65.39 on Thursday. The stock has a fifty day simple moving average of $54.77 and a 200-day simple moving average of $49.59. Docusign Inc. has a 52-week low of $40.16 and a 52-week high of $86.65. The company has a market capitalization of $12.49 billion, a PE ratio of 42.46, a price-to-earnings-growth ratio of 2.27 and a beta of 0.90.

Docusign (NASDAQ:DOCU - Get Free Report) last announced its quarterly earnings results on Thursday, June 4th. The company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.10. The company had revenue of $830.24 million for the quarter, compared to the consensus estimate of $824.71 million. Docusign had a net margin of 9.59% and a return on equity of 17.48%. The company'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 firm earned $0.90 earnings per share. As a group, equities analysts anticipate that Docusign Inc. will post 2.05 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Needham & Company LLC reaffirmed a "hold" rating on shares of Docusign in a report on Friday, June 5th. Weiss Ratings upgraded shares of Docusign from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, August 25th. Wall Street Zen downgraded shares of Docusign from a "strong-buy" rating to a "buy" rating in a research note on Sunday, August 2nd. Bank of America restated an "underperform" rating on shares of Docusign in a research note on Friday, August 28th. Finally, Citigroup reaffirmed a "market outperform" rating on shares of Docusign in a report on Tuesday, August 18th. Four research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Docusign has a consensus rating of "Hold" and an average target price of $61.27.

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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