Plato Investment Management Ltd Takes $536,000 Position in Docusign Inc. $DOCU

Plato Investment Management Ltd acquired a new position in Docusign Inc. (NASDAQ:DOCU) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 12,138 shares of the company’s stock, valued at approximately $536,000.

Other institutional investors have also made changes to their positions in the company. NewEdge Advisors LLC increased its stake in Docusign by 36.4% in the 1st quarter. NewEdge Advisors LLC now owns 9,202 shares of the company’s stock valued at $749,000 after buying an additional 2,457 shares during the last quarter. Guggenheim Capital LLC boosted its stake in shares of Docusign by 6.7% during the 2nd quarter. Guggenheim Capital LLC now owns 11,543 shares of the company’s stock worth $899,000 after buying an additional 729 shares during the last quarter. State Street Corp grew its holdings in shares of Docusign by 3.0% in the 2nd quarter. State Street Corp now owns 8,074,976 shares of the company’s stock valued at $628,960,000 after acquiring an additional 236,494 shares in the last quarter. Sei Investments Co. grew its holdings in shares of Docusign by 60.7% in the 2nd quarter. Sei Investments Co. now owns 40,386 shares of the company’s stock valued at $3,146,000 after acquiring an additional 15,247 shares in the last quarter. Finally, Treasurer of the State of North Carolina increased its position in shares of Docusign by 51.0% in the second quarter. Treasurer of the State of North Carolina now owns 189,178 shares of the company’s stock valued at $14,735,000 after acquiring an additional 63,911 shares during the last quarter. Institutional investors own 77.64% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on DOCU. Wall Street Zen lowered Docusign from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 2nd. Needham & Company LLC restated a “hold” rating on shares of Docusign in a research note on Friday, June 5th. Citizens Jmp reaffirmed a “market outperform” rating and set a $86.00 price target on shares of Docusign in a research report on Tuesday. Wells Fargo & Company dropped their price objective on Docusign from $60.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Friday, June 5th. Finally, BTIG Research cut their price objective on Docusign from $70.00 to $60.00 and set a “buy” rating for the company in a report on Friday, June 5th. Four investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Docusign currently has a consensus rating of “Hold” and an average target price of $60.27.

Insider Transactions at Docusign

In other news, CEO Allan C. Thygesen sold 26,250 shares of the firm’s 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 sale, the chief executive officer directly owned 159,038 shares of the company’s stock, valued at $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 available at this link. 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 that occurred on Wednesday, July 1st. The stock was sold at an average price of $45.54, for a total value of $546,480.00. Following the transaction, the insider owned 52,815 shares of the company’s stock, valued at $2,405,195.10. This represents a 18.51% 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. Over the last ninety days, insiders have sold 91,695 shares of company stock valued at $4,376,002. Company insiders own 0.59% of the company’s stock.

Docusign Price Performance

Docusign stock opened at $60.01 on Wednesday. The firm has a market capitalization of $11.46 billion, a PE ratio of 38.97, a P/E/G ratio of 1.83 and a beta of 0.87. The company’s 50-day moving average is $50.56 and its 200-day moving average is $48.42. Docusign Inc. has a fifty-two week low of $40.16 and a fifty-two week high of $86.65.

Docusign (NASDAQ:DOCU) last issued its earnings results on Thursday, June 4th. The company reported $1.09 earnings per share (EPS) 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 analysts’ expectations of $824.71 million. During the same period in the prior year, the firm earned $0.90 EPS. Docusign’s quarterly 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 year.

Docusign Company 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.