SummitTX Capital L.P. Makes New $1.18 Million Investment in Docusign Inc. $DOCU

Key Points

• SummitTX Capital initiated a $1.18 million position in DocuSign, purchasing 24,921 shares during the first quarter. Institutional investors collectively own 77.64% of DOCU.
• DocuSign exceeded quarterly expectations, reporting adjusted EPS of $1.09 versus the $0.99 consensus and revenue of $830.24 million, up 8.7% year over year.
• Analysts maintain a consensus “Hold” rating with a $60.27 average price target, while insiders sold 76,695 shares worth approximately $3.48 million over the past quarter.

SummitTX Capital L.P. purchased a new position in Docusign Inc. (NASDAQ:DOCU - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 24,921 shares of the company's stock, valued at approximately $1,182,000.

A number of other large investors also recently modified their holdings of DOCU. State Street Corp increased its holdings in Docusign by 0.9% during the 4th quarter. State Street Corp now owns 8,193,805 shares of the company's stock worth $560,456,000 after acquiring an additional 77,008 shares during the period. Capital World Investors boosted its holdings in Docusign by 38.1% in the 4th 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. Arrowstreet Capital Limited Partnership grew its position in shares of Docusign by 76.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 5,285,128 shares of the company's stock valued at $250,568,000 after purchasing an additional 2,283,996 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Docusign by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 4,084,463 shares of the company's stock worth $278,665,000 after purchasing an additional 18,873 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Docusign by 8.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,343,613 shares of the company's stock worth $228,703,000 after purchasing an additional 251,639 shares during the period. 77.64% of the stock is currently owned by institutional investors.

Docusign Stock Performance

DOCU stock opened at $58.17 on Thursday. The company has a market capitalization of $11.11 billion, a PE ratio of 37.77, a price-to-earnings-growth ratio of 1.65 and a beta of 0.90. Docusign Inc. has a one year low of $40.16 and a one year high of $86.65. The company's 50 day moving average price is $48.21 and its two-hundred day moving average price is $48.51.

Docusign (NASDAQ:DOCU - Get Free Report) last announced its quarterly earnings data on Thursday, June 4th. The company reported $1.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.99 by $0.10. Docusign had a net margin of 9.59% and a return on equity of 17.48%. The company had revenue of $830.24 million during the quarter, compared to analysts' expectations of $824.71 million. During the same quarter in the prior year, the company earned $0.90 EPS. The firm's revenue was up 8.7% on a year-over-year basis. On average, research analysts predict that Docusign Inc. will post 2.03 EPS for the current year.

Insider Buying and Selling at Docusign

In other news, CFO Blake Jeffrey Grayson sold 15,000 shares of the firm's 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 approximately $6,442,090.95. This trade represents a 9.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 the firm's stock in a transaction dated 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 directly owned 72,805 shares in the company, valued at $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 valued at $3,476,002. 0.59% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. UBS Group set a $60.00 target price on Docusign in a research report on Friday, June 5th. Wells Fargo & Company cut their price objective on Docusign from $60.00 to $55.00 and set an "equal weight" rating for the company in a report on Friday, June 5th. Wedbush lowered their target price on shares of Docusign from $60.00 to $58.00 and set a "neutral" rating on the stock in a research note on Friday, June 5th. Jefferies Financial Group boosted their price target on shares of Docusign from $45.00 to $50.00 and gave the stock a "hold" rating in a research note on Friday, June 5th. Finally, Needham & Company LLC restated a "hold" rating on shares of Docusign in a research report on Friday, June 5th. Three investment 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's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $60.27.

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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