Fifth Third Bancorp Purchases 51,460 Shares of Docusign Inc. $DOCU

Fifth Third Bancorp lifted its position in shares of Docusign Inc. (NASDAQ:DOCU) by 4,207.7% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 52,683 shares of the company’s stock after buying an additional 51,460 shares during the quarter. Fifth Third Bancorp’s holdings in Docusign were worth $2,498,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of DOCU. Central Pacific Bank Trust Division acquired a new stake in Docusign in the 4th quarter worth about $25,000. Modus Advisors LLC acquired a new position in shares of Docusign during the 4th quarter worth approximately $27,000. Torren Management LLC bought a new position in shares of Docusign during the fourth quarter worth approximately $28,000. True Wealth Design LLC increased its holdings in shares of Docusign by 105.2% during the fourth quarter. True Wealth Design LLC now owns 433 shares of the company’s stock worth $30,000 after purchasing an additional 222 shares during the period. Finally, Aventura Private Wealth LLC acquired a new stake in shares of Docusign in the fourth quarter valued at approximately $30,000. Institutional investors own 77.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on DOCU. BTIG Research reduced their price target on Docusign from $70.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, June 5th. UBS Group set a $60.00 price objective on Docusign in a report on Friday, June 5th. Citigroup upped their target price on Docusign from $50.00 to $54.00 and gave the company a “neutral” rating in a research report on Friday, June 5th. Wedbush decreased their price target on Docusign from $60.00 to $58.00 and set a “neutral” rating on the stock in a research report on Friday, June 5th. Finally, Wall Street Zen cut shares of Docusign from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 12th. Three investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Docusign currently has an average rating of “Hold” and an average price target of $60.27.

Insider Activity

In related news, insider Robert Chatwani sold 15,902 shares of the business’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $43.01, for a total transaction 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 position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 stock was sold at an average price of $45.55, for a total value of $683,250.00. Following the sale, the chief financial officer owned 141,429 shares in the company, valued at $6,442,090.95. This represents a 9.59% 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. In the last quarter, insiders have sold 76,695 shares of company stock valued at $3,476,002. 0.59% of the stock is currently owned by insiders.

Docusign Stock Performance

Docusign stock opened at $50.74 on Wednesday. The stock has a fifty day moving average of $47.69 and a 200-day moving average of $49.14. The stock has a market capitalization of $9.69 billion, a P/E ratio of 32.95, a price-to-earnings-growth ratio of 1.54 and a beta of 0.90. Docusign Inc. has a 52 week low of $40.16 and a 52 week 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, 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 the consensus estimate of $824.71 million. During the same quarter in the previous year, the firm earned $0.90 earnings per share. The business’s quarterly revenue was up 8.7% on a year-over-year basis. On average, research analysts forecast that Docusign Inc. will post 2.03 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.