Citizens Financial Group Inc. RI Makes New Investment in Docusign Inc. $DOCU

Citizens Financial Group Inc. RI bought a new stake in shares of Docusign Inc. (NASDAQ:DOCU) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 16,307 shares of the company’s stock, valued at approximately $724,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Modus Advisors LLC acquired a new stake in shares of Docusign in the fourth quarter worth approximately $27,000. Torren Management LLC acquired a new position in Docusign in the 4th quarter valued at $28,000. Cary Street Partners Investment Advisory LLC lifted its holdings in Docusign by 309.5% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 561 shares of the company’s stock valued at $38,000 after purchasing an additional 424 shares in the last quarter. Basepoint Wealth LLC purchased a new position in Docusign in the 4th quarter valued at $39,000. Finally, WealthCollab LLC boosted its stake in Docusign by 372.4% during the 1st quarter. WealthCollab LLC now owns 855 shares of the company’s stock worth $41,000 after purchasing an additional 674 shares during the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Insider Buying and Selling at Docusign

In related news, insider James P. Shaughnessy sold 12,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $45.54, for a total value of $546,480.00. Following the transaction, the insider directly owned 52,815 shares in the company, valued at approximately $2,405,195.10. This represents a 18.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robert Chatwani sold 15,902 shares of the stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $43.01, for a total value of $683,945.02. Following the completion of the transaction, the insider owned 72,805 shares of the company’s stock, valued at $3,131,343.05. The trade was a 17.93% decrease in their ownership of the stock. 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 three months, insiders have sold 91,695 shares of company stock worth $4,376,002. Insiders own 0.59% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on DOCU. Needham & Company LLC reaffirmed a “hold” rating on shares of Docusign in a report on Friday, June 5th. Wedbush dropped their price target on Docusign from $60.00 to $58.00 and set a “neutral” rating for the company in a research report on Friday, June 5th. Citigroup reaffirmed a “market outperform” rating on shares of Docusign in a report on Tuesday. Citizens Jmp reiterated a “market outperform” rating and set a $86.00 price objective on shares of Docusign in a research report on Tuesday. Finally, Wells Fargo & Company reduced their price objective on Docusign from $60.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Friday, June 5th. Four research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $60.27.

Docusign Trading Up 3.5%

Docusign stock opened at $62.11 on Thursday. Docusign Inc. has a 12-month low of $40.16 and a 12-month high of $86.65. The stock has a market cap of $11.86 billion, a P/E ratio of 40.33, a PEG ratio of 1.76 and a beta of 0.87. The company has a 50-day moving average price of $50.90 and a 200 day moving average price of $48.48.

Docusign (NASDAQ:DOCU) last issued its earnings results on Thursday, June 4th. The company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates 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%. Docusign’s quarterly 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. As a group, analysts forecast that Docusign Inc. will post 2.04 EPS for the current year.

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.