SummitTX Capital L.P. Acquires Shares of 24,921 Docusign Inc. $DOCU

SummitTX Capital L.P. bought a new position in Docusign Inc. (NASDAQ:DOCU) in the 1st quarter, according to its most recent disclosure with the SEC. The firm bought 24,921 shares of the company’s stock, valued at approximately $1,182,000.

A number of other large investors have also recently modified their holdings of the stock. Modus Advisors LLC purchased a new position in shares of Docusign in the 4th quarter valued at approximately $27,000. Torren Management LLC bought a new position in Docusign in the fourth quarter worth $28,000. Cary Street Partners Investment Advisory LLC lifted its position in Docusign by 309.5% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 561 shares of the company’s stock valued at $38,000 after buying an additional 424 shares during the period. Basepoint Wealth LLC purchased a new position in Docusign during the fourth quarter valued at $39,000. Finally, WealthCollab LLC boosted its holdings in shares of Docusign by 372.4% during the 1st quarter. WealthCollab LLC now owns 855 shares of the company’s stock valued at $41,000 after buying an additional 674 shares in the last quarter. Institutional investors own 77.64% of the company’s stock.

Wall Street Analyst Weigh In

DOCU has been the topic of several research reports. UBS Group set a $60.00 price objective on shares of Docusign in a research note on Friday, June 5th. Wall Street Zen upgraded shares of Docusign from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 25th. BTIG Research decreased their price target on Docusign from $70.00 to $60.00 and set a “buy” rating for the company in a research note on Friday, June 5th. 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. Finally, Wedbush cut their price objective on shares of Docusign from $60.00 to $58.00 and set a “neutral” rating for the company in a research report on Friday, June 5th. Three investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $60.27.

Docusign Trading Up 3.9%

Shares of NASDAQ DOCU opened at $58.17 on Thursday. Docusign Inc. has a 12-month low of $40.16 and a 12-month high of $86.65. The stock’s fifty day simple moving average is $48.21 and its two-hundred day simple moving average is $48.51. The stock has a market capitalization of $11.11 billion, a PE ratio of 37.77, a price-to-earnings-growth ratio of 1.65 and a beta of 0.90.

Docusign (NASDAQ:DOCU) last released its quarterly 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 business had revenue of $830.24 million during the quarter, compared to analyst estimates of $824.71 million. During the same period in the prior year, the firm posted $0.90 earnings per share. The company’s quarterly revenue was up 8.7% on a year-over-year basis. On average, equities analysts predict that Docusign Inc. will post 2.03 earnings per share for the current fiscal year.

Insider Transactions at Docusign

In other Docusign news, CEO Allan C. Thygesen sold 26,250 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief executive officer owned 159,038 shares of the company’s stock, 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 filing with the SEC, which is accessible through the SEC website. 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 dated Wednesday, July 1st. The stock was sold at an average price of $45.54, for a total value of $546,480.00. Following the sale, the insider directly owned 52,815 shares of the company’s stock, valued at approximately $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. Over the last three months, insiders have sold 76,695 shares of company stock worth $3,476,002. 0.59% of the stock is currently owned by corporate insiders.

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.