85,000 Shares in Docusign Inc. $DOCU Purchased by Primecap Management Co. CA

Primecap Management Co. CA purchased a new stake in shares of Docusign Inc. (NASDAQ:DOCU) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 85,000 shares of the company’s stock, valued at approximately $3,776,000.

Several other large investors have also recently added to or reduced their stakes in DOCU. Bank of America Corp DE increased its position in shares of Docusign by 23.3% during the first quarter. Bank of America Corp DE now owns 1,193,163 shares of the company’s stock valued at $56,568,000 after purchasing an additional 225,801 shares during the period. Capital World Investors raised its stake 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. Assenagon Asset Management S.A. lifted its position in Docusign by 247.5% in the second quarter. Assenagon Asset Management S.A. now owns 349,038 shares of the company’s stock worth $15,504,000 after purchasing an additional 248,597 shares during the period. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new position in Docusign in the fourth quarter worth $6,897,000. Finally, Los Angeles Capital Management LLC acquired a new stake in Docusign during the fourth quarter worth $1,750,000. Institutional investors and hedge funds own 77.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on DOCU. Needham & Company LLC reissued a “hold” rating on shares of Docusign in a report on Friday, June 5th. Wedbush reduced their price objective 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. Weiss Ratings upgraded shares of Docusign from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday. Jefferies Financial Group upped their target price on shares of Docusign from $45.00 to $50.00 and gave the company a “hold” rating in a research note on Friday, June 5th. Finally, Citizens Jmp reissued a “market outperform” rating and issued a $86.00 target price on shares of Docusign in a research note on Tuesday, August 18th. Four investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Docusign currently has an average rating of “Hold” and an average price target of $60.27.

Insider Activity

In other Docusign news, CFO Blake Jeffrey Grayson sold 15,000 shares of the company’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $60.00, for a total transaction of $900,000.00. Following the sale, the chief financial officer directly owned 126,429 shares of the company’s stock, valued at approximately $7,585,740. This represents a 10.61% 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 link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Allan C. Thygesen sold 26,250 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer directly owned 159,038 shares of the company’s stock, valued at approximately $7,318,928.76. The trade was a 14.17% 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 a total of 91,695 shares of company stock worth $4,376,002 over the last ninety days. Corporate insiders own 0.59% of the company’s stock.

Docusign Price Performance

Shares of DOCU stock opened at $59.33 on Thursday. 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 cap of $11.33 billion, a price-to-earnings ratio of 38.53, a P/E/G ratio of 1.77 and a beta of 0.87. Docusign Inc. has a one year low of $40.16 and a one year high of $86.65.

Docusign (NASDAQ:DOCU) last issued its earnings results on Thursday, June 4th. The company reported $1.09 EPS for the quarter, beating 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 company had revenue of $830.24 million for the quarter, compared to the consensus estimate of $824.71 million. During the same quarter in the previous year, the company earned $0.90 EPS. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. On average, research analysts anticipate that Docusign Inc. will post 2.04 earnings per share for the current year.

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.