Docusign Inc. $DOCU Shares Bought by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership lifted its holdings in shares of Docusign Inc. (NASDAQ:DOCU) by 76.1% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 5,285,128 shares of the company’s stock after acquiring an additional 2,283,996 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 2.72% of Docusign worth $250,568,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. NewEdge Advisors LLC increased its stake in Docusign by 36.4% during the 1st quarter. NewEdge Advisors LLC now owns 9,202 shares of the company’s stock valued at $749,000 after purchasing an additional 2,457 shares in the last quarter. Guggenheim Capital LLC increased its holdings in shares of Docusign by 6.7% in the second quarter. Guggenheim Capital LLC now owns 11,543 shares of the company’s stock valued at $899,000 after purchasing an additional 729 shares during the period. State Street Corp increased its holdings in shares of Docusign by 3.0% in the second quarter. State Street Corp now owns 8,074,976 shares of the company’s stock valued at $628,960,000 after purchasing an additional 236,494 shares during the period. Sei Investments Co. raised its stake in shares of Docusign by 60.7% in the second quarter. Sei Investments Co. now owns 40,386 shares of the company’s stock worth $3,146,000 after purchasing an additional 15,247 shares during the last quarter. Finally, Treasurer of the State of North Carolina raised its stake in shares of Docusign by 51.0% in the second quarter. Treasurer of the State of North Carolina now owns 189,178 shares of the company’s stock worth $14,735,000 after purchasing an additional 63,911 shares during the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.

Insider Activity at Docusign

In other news, insider Robert Chatwani sold 15,902 shares of Docusign stock in a transaction dated 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. This trade represents a 17.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider James P. Shaughnessy sold 12,000 shares of the business’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $45.54, for a total transaction of $546,480.00. Following the sale, the insider directly owned 52,815 shares of the company’s stock, valued at $2,405,195.10. This represents a 18.51% 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 76,695 shares of company stock valued at $3,476,002 in the last three months. Company insiders own 0.59% of the company’s stock.

Docusign Trading Up 7.2%

NASDAQ DOCU opened at $50.44 on Friday. The stock has a market capitalization of $9.63 billion, a price-to-earnings ratio of 32.75, a PEG ratio of 1.39 and a beta of 0.90. The stock has a 50-day moving average of $47.83 and a 200 day moving average of $48.89. Docusign Inc. has a twelve month low of $40.16 and a twelve month high of $86.65.

Docusign (NASDAQ:DOCU) last posted its quarterly earnings data on Thursday, June 4th. The company reported $1.09 EPS for the quarter, beating 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 business had revenue of $830.24 million during the quarter, compared to analysts’ expectations of $824.71 million. During the same period in the previous year, the business earned $0.90 earnings per share. The business’s revenue was up 8.7% compared to the same quarter last year. Equities analysts predict that Docusign Inc. will post 2.03 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Jefferies Financial Group upped their target price on Docusign from $45.00 to $50.00 and gave the company a “hold” rating in a research report on Friday, June 5th. UBS Group set a $60.00 price objective on shares of Docusign in a research note on Friday, June 5th. Needham & Company LLC reaffirmed a “hold” rating on shares of Docusign in a report on Friday, June 5th. Weiss Ratings upgraded shares of Docusign from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, July 14th. Finally, Citigroup raised their target price 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 given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Docusign has a consensus rating of “Hold” and a consensus price target of $60.27.

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.