Strategic Global Advisors LLC Makes New Investment in Docusign Inc. $DOCU

Strategic Global Advisors LLC purchased a new stake in shares of Docusign Inc. (NASDAQ:DOCU) in the 2nd quarter, HoldingsChannel reports. The firm purchased 33,796 shares of the company’s stock, valued at approximately $1,501,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Smartleaf Asset Management LLC lifted its stake in shares of Docusign by 8.2% in the 2nd quarter. Smartleaf Asset Management LLC now owns 2,169 shares of the company’s stock valued at $166,000 after acquiring an additional 165 shares during the last quarter. Centaurus Financial Inc. boosted its holdings in Docusign by 3.4% during the 3rd quarter. Centaurus Financial Inc. now owns 5,582 shares of the company’s stock valued at $402,000 after acquiring an additional 184 shares during the period. Tred Avon Family Wealth LLC grew its position in Docusign by 3.6% during the 1st quarter. Tred Avon Family Wealth LLC now owns 6,176 shares of the company’s stock worth $293,000 after acquiring an additional 215 shares during the last quarter. Sanctuary Advisors LLC increased its stake in Docusign by 2.4% in the 4th quarter. Sanctuary Advisors LLC now owns 9,685 shares of the company’s stock worth $662,000 after purchasing an additional 231 shares during the period. Finally, First Citizens Bank & Trust Co. increased its stake in Docusign by 2.1% in the 1st quarter. First Citizens Bank & Trust Co. now owns 11,745 shares of the company’s stock worth $557,000 after purchasing an additional 239 shares during the period. 77.64% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Docusign news, CEO Allan C. Thygesen sold 26,250 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $46.02, for a total value of $1,208,025.00. Following the transaction, the chief executive officer directly owned 159,038 shares in the company, valued at approximately $7,318,928.76. This trade represents a 14.17% decrease in their ownership of the stock. The transaction 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, insider James P. Shaughnessy sold 12,000 shares of Docusign stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $45.54, for a total transaction of $546,480.00. Following the transaction, the insider owned 52,815 shares in the company, valued at $2,405,195.10. This represents a 18.51% decrease in their position. 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 91,695 shares of company stock valued at $4,376,002 in the last 90 days. Insiders own 0.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on DOCU shares. Citizens Jmp reiterated a “market outperform” rating and issued a $86.00 price objective on shares of Docusign in a research report on Tuesday, August 18th. UBS Group set a $60.00 target price on shares of Docusign in a research note on Friday, June 5th. Jefferies Financial Group upped their price target on shares of Docusign from $45.00 to $50.00 and gave the company a “hold” rating in a report on Friday, June 5th. Wall Street Zen cut shares of Docusign from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 2nd. Finally, Citigroup restated a “market outperform” rating on shares of Docusign in a research report on Tuesday, August 18th. Four analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $60.27.

Docusign Price Performance

Shares of NASDAQ:DOCU opened at $59.33 on Thursday. The company has a market capitalization of $11.33 billion, a PE ratio of 38.53, a PEG ratio of 1.77 and a beta of 0.87. Docusign Inc. has a 1-year low of $40.16 and a 1-year high of $86.65. The business has a fifty day moving average price of $52.62 and a 200-day moving average price of $48.93.

Docusign (NASDAQ:DOCU) last posted its quarterly 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 return on equity of 17.48% and a net margin of 9.59%.The firm had revenue of $830.24 million during the quarter, compared to analysts’ expectations of $824.71 million. During the same quarter in the previous year, the business earned $0.90 earnings per share. The company’s revenue was up 8.7% on a year-over-year basis. On average, sell-side analysts anticipate that Docusign Inc. will post 2.04 earnings per share for the current fiscal 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.