Los Angeles Capital Management LLC Acquires New Stake in Docusign Inc. $DOCU

Los Angeles Capital Management LLC bought a new position in shares of Docusign Inc. (NASDAQ:DOCU) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 24,444 shares of the company’s stock, valued at approximately $1,750,000.

Other institutional investors have also recently added to or reduced their stakes in the company. NewEdge Advisors LLC lifted its holdings in shares of Docusign by 36.4% in the first quarter. NewEdge Advisors LLC now owns 9,202 shares of the company’s stock valued at $749,000 after buying an additional 2,457 shares during the period. Guggenheim Capital LLC grew its holdings in Docusign by 6.7% during the second quarter. Guggenheim Capital LLC now owns 11,543 shares of the company’s stock worth $899,000 after acquiring an additional 729 shares during the period. State Street Corp raised its position in Docusign by 3.0% in the second quarter. State Street Corp now owns 8,074,976 shares of the company’s stock worth $628,960,000 after acquiring an additional 236,494 shares in the last quarter. Sei Investments Co. raised its position in Docusign by 60.7% in the second quarter. Sei Investments Co. now owns 40,386 shares of the company’s stock worth $3,146,000 after acquiring an additional 15,247 shares in the last quarter. Finally, Treasurer of the State of North Carolina lifted its holdings in Docusign by 51.0% in the 2nd quarter. Treasurer of the State of North Carolina now owns 189,178 shares of the company’s stock valued at $14,735,000 after acquiring an additional 63,911 shares during the last quarter. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on DOCU. Citizens Jmp lowered their price objective on shares of Docusign from $124.00 to $86.00 and set a “market outperform” rating on the stock in a research note on Wednesday, March 18th. UBS Group set a $60.00 target price on shares of Docusign in a research note on Friday, June 5th. Robert W. Baird decreased their price target on shares of Docusign from $75.00 to $55.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 18th. Citigroup upped their price target on Docusign from $50.00 to $54.00 and gave the company a “neutral” rating in a report on Friday, June 5th. Finally, BTIG Research cut their price objective on Docusign from $70.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, June 5th. Three research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $60.27.

Insider Activity

In related news, CRO Paula Hansen sold 6,000 shares of the stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $46.84, for a total value of $281,040.00. Following the completion of the sale, the executive directly owned 79,233 shares of the company’s stock, valued at approximately $3,711,273.72. This represents a 7.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Allan C. Thygesen sold 26,250 shares of the company’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $47.78, for a total value of $1,254,225.00. Following the completion of the transaction, the chief executive officer owned 152,237 shares in the company, valued at $7,273,883.86. This represents a 14.71% decrease in their position. 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 sold 65,489 shares of company stock valued at $3,125,814 in the last ninety days. Corporate insiders own 0.59% of the company’s stock.

Docusign Trading Up 0.1%

DOCU stock opened at $45.13 on Thursday. Docusign Inc. has a one year low of $40.16 and a one year high of $86.65. The firm has a market capitalization of $8.62 billion, a PE ratio of 29.31, a P/E/G ratio of 1.53 and a beta of 0.92. The firm has a 50-day moving average of $47.68 and a two-hundred day moving average of $53.68.

Docusign (NASDAQ:DOCU) last released its earnings results on Thursday, June 4th. The company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.10. Docusign had a net margin of 9.59% and a return on equity of 17.48%. The business had revenue of $830.24 million for the quarter, compared to the consensus estimate of $824.71 million. During the same period last year, the firm posted $0.90 earnings per share. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. On average, equities research analysts anticipate that Docusign Inc. will post 1.76 earnings per share for the current year.

Docusign announced that its board has initiated a share repurchase program on Tuesday, March 17th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the company to buy up to 21% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

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.