First Trust Advisors LP Decreases Position in Docusign Inc. $DOCU

First Trust Advisors LP lowered its stake in Docusign Inc. (NASDAQ:DOCU) by 4.4% in the first quarter, Holdings Channel.com reports. The institutional investor owned 895,634 shares of the company’s stock after selling 41,266 shares during the quarter. First Trust Advisors LP’s holdings in Docusign were worth $42,462,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Modus Advisors LLC purchased a new stake in Docusign during the 4th quarter worth approximately $27,000. Torren Management LLC purchased a new position in shares of Docusign during the 4th quarter valued at approximately $28,000. Cary Street Partners Investment Advisory LLC grew its position in shares of Docusign by 309.5% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 561 shares of the company’s stock worth $38,000 after buying an additional 424 shares in the last quarter. Basepoint Wealth LLC acquired a new stake in shares of Docusign during the fourth quarter worth approximately $39,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Docusign in the fourth quarter worth $44,000. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Bank of America initiated coverage on shares of Docusign in a report on Tuesday, March 31st. They issued an “underperform” rating and a $52.00 price target on the stock. Wells Fargo & Company dropped their target price on shares of Docusign from $60.00 to $55.00 and set an “equal weight” rating for the company in a research report on Friday, June 5th. Jefferies Financial Group boosted their target price on shares of Docusign from $45.00 to $50.00 and gave the stock a “hold” rating in a research report on Friday, June 5th. Needham & Company LLC reaffirmed a “hold” rating on shares of Docusign in a research report on Friday, June 5th. Finally, Citigroup increased their price target on shares of Docusign from $50.00 to $54.00 and gave the stock a “neutral” rating in a research report on Friday, June 5th. Three investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $60.27.

Insider Activity

In other Docusign news, CEO Allan C. Thygesen sold 26,250 shares of Docusign stock in a transaction that occurred on Wednesday, July 1st. The stock was 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 directly owned 159,038 shares in the company, valued at $7,318,928.76. The trade was a 14.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robert Chatwani sold 15,902 shares of the company’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $43.01, for a total value of $683,945.02. Following the transaction, the insider directly owned 72,805 shares of the company’s stock, valued at $3,131,343.05. This trade represents a 17.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 76,695 shares of company stock valued at $3,476,002 over the last quarter. Corporate insiders own 0.59% of the company’s stock.

Docusign Price Performance

DOCU stock opened at $52.91 on Tuesday. Docusign Inc. has a 1-year low of $40.16 and a 1-year high of $86.65. The firm has a fifty day moving average price of $47.91 and a two-hundred day moving average price of $48.69. The firm has a market cap of $10.10 billion, a price-to-earnings ratio of 34.36, a PEG ratio of 1.49 and a beta of 0.90.

Docusign (NASDAQ:DOCU) last issued its earnings results on Thursday, June 4th. The company reported $1.09 earnings per share for the quarter, topping 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 analysts’ expectations of $824.71 million. During the same period in the prior year, the company earned $0.90 earnings per share. The firm’s revenue was up 8.7% compared to the same quarter last year. As a group, analysts expect that Docusign Inc. will post 2.03 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.