Ieq Capital LLC Makes New $12.26 Million Investment in Docusign Inc. $DOCU

Ieq Capital LLC purchased a new stake in Docusign Inc. (NASDAQ:DOCU) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 275,974 shares of the company’s stock, valued at approximately $12,259,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bank of America Corp DE lifted its position in 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 last quarter. Capital World Investors lifted its stake in Docusign by 38.1% during the fourth quarter. Capital World Investors now owns 5,815,804 shares of the company’s stock worth $397,801,000 after purchasing an additional 1,603,900 shares during the last quarter. Assenagon Asset Management S.A. grew its position in Docusign by 247.5% during the second quarter. Assenagon Asset Management S.A. now owns 349,038 shares of the company’s stock valued at $15,504,000 after acquiring an additional 248,597 shares during the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new stake in Docusign during the fourth quarter valued at about $6,897,000. Finally, Los Angeles Capital Management LLC bought a new position in Docusign during the 4th quarter worth approximately $1,750,000. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on DOCU shares. Citizens Jmp restated a “market outperform” rating and set a $86.00 target price on shares of Docusign in a report on Tuesday, August 18th. Citigroup reaffirmed a “market outperform” rating on shares of Docusign in a research note on Tuesday. Needham & Company LLC reaffirmed a “hold” rating on shares of Docusign in a research note on Friday, June 5th. Weiss Ratings upgraded Docusign from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, July 14th. Finally, Wells Fargo & Company lowered their price objective on Docusign from $60.00 to $55.00 and set an “equal weight” rating for the company in a research report on Friday, June 5th. Four research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Docusign presently has an average rating of “Hold” and a consensus price target of $60.27.

Insiders Place Their Bets

In other Docusign news, CRO Paula Hansen sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $45.54, for a total transaction of $273,240.00. Following the sale, the executive owned 89,972 shares in the company, valued at approximately $4,097,324.88. This trade represents a 6.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robert Chatwani sold 15,902 shares of Docusign stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $43.01, for a total transaction of $683,945.02. Following the transaction, the insider owned 72,805 shares in the company, valued at approximately $3,131,343.05. This trade represents a 17.93% 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. In the last ninety days, insiders sold 91,695 shares of company stock valued at $4,376,002. 0.59% of the stock is currently owned by corporate insiders.

Docusign Price Performance

Docusign stock opened at $62.00 on Friday. Docusign Inc. has a one year low of $40.16 and a one year high of $86.65. The business’s fifty day moving average is $51.59 and its 200 day moving average is $48.64. The stock has a market capitalization of $11.84 billion, a PE ratio of 40.26, a price-to-earnings-growth ratio of 1.83 and a beta of 0.87.

Docusign (NASDAQ:DOCU) last issued its quarterly earnings data on Thursday, June 4th. The company reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates 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 prior year, the firm earned $0.90 earnings per share. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. As a group, sell-side analysts expect that Docusign Inc. will post 2.04 EPS for the current fiscal year.

About Docusign

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.