Docusign Inc. $DOCU Shares Acquired by Entropy Technologies LP

Entropy Technologies LP lifted its stake in shares of Docusign Inc. (NASDAQ:DOCU) by 60.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 43,845 shares of the company’s stock after purchasing an additional 16,493 shares during the period. Entropy Technologies LP’s holdings in Docusign were worth $2,999,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Central Pacific Bank Trust Division acquired a new position in shares of Docusign during the 4th quarter worth approximately $25,000. Modus Advisors LLC acquired a new position in shares of Docusign during the 4th quarter worth approximately $27,000. Torren Management LLC acquired a new position in shares of Docusign during the 4th quarter worth approximately $28,000. True Wealth Design LLC boosted its holdings in shares of Docusign by 105.2% during the 4th 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 last quarter. Finally, Aventura Private Wealth LLC acquired a new position in shares of Docusign during the 4th quarter worth approximately $30,000. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on DOCU shares. Jefferies Financial Group boosted their target price on Docusign from $45.00 to $50.00 and gave the stock a “hold” rating in a report on Friday, June 5th. Bank of America began coverage on Docusign in a report on Tuesday, March 31st. They set an “underperform” rating and a $52.00 target price on the stock. Citizens Jmp lowered their price objective on Docusign from $124.00 to $86.00 and set a “market outperform” rating for the company in a research report on Wednesday, March 18th. BTIG Research lowered their price objective on Docusign from $70.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, June 5th. Finally, Wells Fargo & Company cut their target price on Docusign from $60.00 to $55.00 and set an “equal weight” rating for the company in a research note on Friday, June 5th. Three research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $60.27.

Docusign Stock Performance

Shares of NASDAQ DOCU opened at $45.03 on Monday. The stock has a market cap of $8.60 billion, a P/E ratio of 29.24, a PEG ratio of 1.36 and a beta of 0.92. Docusign Inc. has a 12-month low of $40.16 and a 12-month high of $86.65. The business’s fifty day simple moving average is $47.56 and its 200-day simple moving average is $53.38.

Docusign (NASDAQ:DOCU) last announced its quarterly earnings data on Thursday, June 4th. The company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.10. The business had revenue of $830.24 million for 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 company’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period last year, the firm earned $0.90 earnings per share. On average, equities analysts forecast that Docusign Inc. will post 1.97 EPS for the current fiscal year.

Docusign declared that its board has approved a stock repurchase plan on Tuesday, March 17th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 21% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other news, Director Mary Agnes Wilderotter sold 3,000 shares of the stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $48.15, for a total value of $144,450.00. Following the sale, the director directly owned 59,803 shares in the company, valued at approximately $2,879,514.45. This trade represents a 4.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Allan C. Thygesen sold 26,250 shares of the stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $47.78, for a total value of $1,254,225.00. Following the completion of the sale, the chief executive officer owned 152,237 shares in the company, valued at approximately $7,273,883.86. The trade was a 14.71% decrease in their ownership of the stock. 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 90 days, insiders sold 65,489 shares of company stock valued at $3,125,814. 0.59% of the stock is owned by company insiders.

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.