Clear Harbor Asset Management LLC Purchases New Position in Docusign Inc. $DOCU

Clear Harbor Asset Management LLC acquired a new position in Docusign Inc. (NASDAQ:DOCU) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 32,293 shares of the company’s stock, valued at approximately $1,434,000.

Several other institutional investors also recently bought and sold shares of the company. Bank of Nova Scotia bought a new position in shares of Docusign during the 2nd quarter worth $5,051,000. Compass Financial Management LLC purchased a new position in shares of Docusign during the second quarter valued at $61,000. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Docusign during the second quarter valued at $485,000. Evolve Private Wealth LLC bought a new stake in shares of Docusign in the second quarter valued at about $348,000. Finally, EP Wealth Advisors LLC bought a new stake in shares of Docusign in the second quarter valued at about $385,000. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Docusign

In other Docusign news, insider James P. Shaughnessy sold 12,000 shares of the firm’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $45.54, for a total value of $546,480.00. Following the completion of the transaction, the insider owned 52,815 shares of the company’s stock, valued at approximately $2,405,195.10. This trade represents a 18.51% 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 Robert Chatwani sold 15,902 shares of Docusign 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 of the company’s stock, valued at $3,131,343.05. The trade was a 17.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 91,695 shares of company stock worth $4,376,002 over the last ninety days. 0.59% of the stock is currently owned by insiders.

Docusign Trading Down 0.4%

Shares of DOCU opened at $62.00 on Friday. Docusign Inc. has a 12 month low of $40.16 and a 12 month high of $86.65. The stock has a fifty day moving average price of $51.59 and a 200-day moving average price of $48.64. The firm has a market cap of $11.84 billion, a PE ratio of 40.26, a P/E/G ratio of 1.83 and a beta of 0.87.

Docusign (NASDAQ:DOCU) last released its quarterly earnings results on Thursday, June 4th. The company reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.10. The company had revenue of $830.24 million during the quarter, compared to analysts’ expectations of $824.71 million. Docusign had a return on equity of 17.48% and a net margin of 9.59%.The firm’s revenue was up 8.7% compared to the same quarter last year. During the same period last year, the business posted $0.90 earnings per share. As a group, research analysts forecast that Docusign Inc. will post 2.04 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on DOCU. Citizens Jmp reiterated a “market outperform” rating and set a $86.00 target price on shares of Docusign in a report on Tuesday, August 18th. BTIG Research lowered their price target on shares of Docusign from $70.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, June 5th. Wells Fargo & Company dropped their price objective on shares of Docusign from $60.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Friday, June 5th. Needham & Company LLC reissued a “hold” rating on shares of Docusign 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 on the stock in a report on Friday, June 5th. Four investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Docusign presently has an average rating of “Hold” and a consensus price target of $60.27.

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.