Palogic Value Management L.P. Invests $1 Million in Docusign Inc. $DOCU

Palogic Value Management L.P. acquired a new position in shares of Docusign Inc. (NASDAQ:DOCU) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 22,517 shares of the company’s stock, valued at approximately $1,000,000.

Other institutional investors also recently modified their holdings of the company. BlackRock Inc. acquired a new position in Docusign in the second quarter worth $927,059,000. State Street Corp grew its stake in shares of Docusign by 0.9% during the fourth quarter. State Street Corp now owns 8,193,805 shares of the company’s stock valued at $560,456,000 after purchasing an additional 77,008 shares during the last quarter. Capital World Investors increased its holdings in shares of Docusign by 38.1% in the fourth 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 in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Docusign by 76.1% in the first 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. Finally, Geode Capital Management LLC raised its position in Docusign by 0.5% in the 4th 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 last quarter. Institutional investors own 77.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on DOCU. Wells Fargo & Company decreased 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. Jefferies Financial Group boosted their target price on Docusign from $45.00 to $50.00 and gave the stock a “hold” rating in a research report on Friday, June 5th. Wedbush cut their price target on Docusign from $60.00 to $58.00 and set a “neutral” rating on the stock in a research note on Friday, June 5th. UBS Group set a $60.00 price target on Docusign in a report on Friday, June 5th. Finally, BTIG Research cut their target price on shares of Docusign from $70.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, June 5th. Four equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $60.27.

Docusign Stock Down 2.0%

NASDAQ:DOCU opened at $59.33 on Thursday. Docusign Inc. has a 12-month low of $40.16 and a 12-month high of $86.65. The stock’s fifty day simple moving average is $52.62 and its 200-day simple moving average is $48.93. The firm has a market capitalization of $11.33 billion, a P/E ratio of 38.53, a P/E/G ratio of 1.77 and a beta of 0.87.

Docusign (NASDAQ:DOCU) last released its earnings results on Thursday, June 4th. The company reported $1.09 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.10. Docusign had a return on equity of 17.48% and a net margin of 9.59%.The firm had revenue of $830.24 million for the quarter, compared to analyst estimates of $824.71 million. During the same quarter in the prior year, the firm posted $0.90 earnings per share. The company’s quarterly revenue was up 8.7% on a year-over-year basis. As a group, equities research analysts expect that Docusign Inc. will post 2.04 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Allan C. Thygesen sold 26,250 shares of Docusign stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $46.02, for a total transaction of $1,208,025.00. Following the transaction, the chief executive officer owned 159,038 shares in the company, valued at $7,318,928.76. The trade was a 14.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider James P. Shaughnessy sold 12,000 shares of Docusign 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 in the company, valued at approximately $2,405,195.10. The trade was 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. In the last quarter, insiders sold 91,695 shares of company stock valued at $4,376,002. 0.59% of the stock is owned by company 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.