Sei Investments Co. Has $13.25 Million Stock Position in Docusign Inc. $DOCU

Key Points

• Sei Investments increased its Docusign position by 238% in the first quarter, holding 279,457 shares valued at approximately $13.25 million. Institutional investors and hedge funds collectively own 77.64% of DOCU.
• Docusign beat quarterly expectations, reporting $1.09 EPS versus the $0.99 consensus and revenue of $830.24 million, up 8.7% year over year.
• Wall Street remains cautious: the stock has an average “Hold” rating and a consensus price target of $60.27, while insiders sold 76,695 shares worth about $3.48 million over the past 90 days.

Sei Investments Co. lifted its holdings in shares of Docusign Inc. (NASDAQ:DOCU - Free Report) by 238.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 279,457 shares of the company's stock after purchasing an additional 196,769 shares during the period. Sei Investments Co. owned 0.14% of Docusign worth $13,249,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of DOCU. Lido Advisors LLC bought a new position in Docusign during the 1st quarter worth $301,000. WealthCollab LLC grew its position in shares of Docusign by 372.4% in the 1st quarter. WealthCollab LLC now owns 855 shares of the company's stock valued at $41,000 after buying an additional 674 shares during the last quarter. First Citizens Bank & Trust Co. increased its stake in shares of Docusign by 2.1% in the first quarter. First Citizens Bank & Trust Co. now owns 11,745 shares of the company's stock valued at $557,000 after buying an additional 239 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of Docusign by 39.1% in the first quarter. PNC Financial Services Group Inc. now owns 9,444 shares of the company's stock valued at $448,000 after buying an additional 2,655 shares during the period. Finally, Ridgepath Capital Management LLC bought a new position in shares of Docusign during the first quarter worth about $2,667,000. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Docusign Price Performance

NASDAQ DOCU opened at $54.29 on Friday. The business has a 50 day simple moving average of $48.31 and a 200 day simple moving average of $48.41. Docusign Inc. has a one year low of $40.16 and a one year high of $86.65. The stock has a market capitalization of $10.37 billion, a P/E ratio of 35.25, a P/E/G ratio of 1.71 and a beta of 0.90.

Docusign (NASDAQ:DOCU - Get Free Report) last issued 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 firm had revenue of $830.24 million for 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 company's revenue was up 8.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.90 earnings per share. Equities analysts expect that Docusign Inc. will post 2.03 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on DOCU. Wells Fargo & Company cut their price objective on Docusign from $60.00 to $55.00 and set an "equal weight" rating on the stock in a research note on Friday, June 5th. Wedbush lowered their price target on shares of Docusign from $60.00 to $58.00 and set a "neutral" rating for the company in a report on Friday, June 5th. BTIG Research lowered 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. Weiss Ratings raised shares of Docusign from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Tuesday, July 14th. Finally, Citigroup upped their price objective on shares of Docusign from $50.00 to $54.00 and gave the company a "neutral" rating in a research note on Friday, June 5th. 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. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $60.27.

Insider Activity at Docusign

In other Docusign news, CEO Allan C. Thygesen sold 26,250 shares of Docusign stock in a transaction 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 sale, the chief executive officer directly owned 159,038 shares of the company's stock, valued at approximately $7,318,928.76. The trade was a 14.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robert Chatwani sold 15,902 shares of Docusign stock in a transaction 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 completion of the sale, the insider directly 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. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 76,695 shares of company stock worth $3,476,002 over the last ninety days. 0.59% of the stock is owned by corporate insiders.

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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