Entropy Technologies LP Sells 32,955 Shares of Docusign Inc. $DOCU

Entropy Technologies LP trimmed its holdings in shares of Docusign Inc. (NASDAQ:DOCU) by 75.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,890 shares of the company’s stock after selling 32,955 shares during the period. Entropy Technologies LP’s holdings in Docusign were worth $516,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Modus Advisors LLC bought a new stake in shares of Docusign in the 4th quarter valued at about $27,000. Torren Management LLC bought a new position in Docusign during the 4th quarter worth approximately $28,000. Cary Street Partners Investment Advisory LLC increased its stake in Docusign by 309.5% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 561 shares of the company’s stock worth $38,000 after purchasing an additional 424 shares during the period. Basepoint Wealth LLC purchased a new position in Docusign in the 4th quarter worth approximately $39,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in Docusign in the fourth quarter valued at approximately $44,000. 77.64% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, 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 value of $683,945.02. Following the sale, the insider owned 72,805 shares in the company, valued at $3,131,343.05. The trade was a 17.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Blake Jeffrey Grayson sold 15,000 shares of the business’s stock in a transaction on Wednesday, July 1st. The shares were 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 in the company, valued at approximately $6,442,090.95. The trade was a 9.59% 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. Insiders have sold a total of 76,695 shares of company stock valued at $3,476,002 over the last three months. Insiders own 0.59% of the company’s stock.

Docusign Price Performance

DOCU opened at $58.17 on Thursday. Docusign Inc. has a one year low of $40.16 and a one year high of $86.65. The business has a 50 day simple moving average of $48.21 and a two-hundred day simple moving average of $48.51. The firm has a market capitalization of $11.11 billion, a price-to-earnings ratio of 37.77, a PEG ratio of 1.65 and a beta of 0.90.

Docusign (NASDAQ:DOCU) last issued its quarterly earnings data on Thursday, June 4th. The company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates 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 period last year, the company earned $0.90 EPS. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. As a group, sell-side analysts expect that Docusign Inc. will post 2.03 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. BTIG Research dropped their price objective on Docusign from $70.00 to $60.00 and set a “buy” rating for the company in a research note on Friday, June 5th. UBS Group set a $60.00 target price on shares of Docusign 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. Jefferies Financial Group increased their price target on shares of Docusign from $45.00 to $50.00 and gave the company a “hold” rating in a research report on Friday, June 5th. Finally, Citigroup raised their price target on shares of Docusign from $50.00 to $54.00 and gave the stock a “neutral” rating in a 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 given a Sell rating to the stock. Based on data from MarketBeat.com, Docusign has a consensus rating of “Hold” and an average price target of $60.27.

Docusign Company 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.