Legal & General Group Plc Takes $22 Million Position in Docusign Inc. $DOCU

Legal & General Group Plc acquired a new stake in Docusign Inc. (NASDAQ:DOCU) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 495,314 shares of the company’s stock, valued at approximately $22,002,000. Legal & General Group Plc owned 0.26% of Docusign at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Smartleaf Asset Management LLC raised its stake in Docusign by 8.2% during the second quarter. Smartleaf Asset Management LLC now owns 2,169 shares of the company’s stock worth $166,000 after purchasing an additional 165 shares during the period. Centaurus Financial Inc. increased its holdings in shares of Docusign by 3.4% during the 3rd quarter. Centaurus Financial Inc. now owns 5,582 shares of the company’s stock worth $402,000 after buying an additional 184 shares during the last quarter. Tred Avon Family Wealth LLC increased its holdings in shares of Docusign by 3.6% during the 1st quarter. Tred Avon Family Wealth LLC now owns 6,176 shares of the company’s stock worth $293,000 after buying an additional 215 shares during the last quarter. Sanctuary Advisors LLC raised its position in shares of Docusign by 2.4% during the 4th quarter. Sanctuary Advisors LLC now owns 9,685 shares of the company’s stock valued at $662,000 after buying an additional 231 shares during the period. Finally, First Citizens Bank & Trust Co. raised its position in shares of Docusign by 2.1% during the 1st quarter. First Citizens Bank & Trust Co. now owns 11,745 shares of the company’s stock valued at $557,000 after buying an additional 239 shares during the period. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on DOCU shares. Bank of America reiterated an “underperform” rating on shares of Docusign in a research report on Friday. Jefferies Financial Group upped their price target on Docusign from $45.00 to $50.00 and gave the company a “hold” rating in a research note on Friday, June 5th. Citizens Jmp reiterated a “market outperform” rating and set a $86.00 price target on shares of Docusign in a report on Tuesday, August 18th. BTIG Research cut 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, Wedbush reduced 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 equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $60.27.

Trending Headlines about Docusign

Here are the key news stories impacting Docusign this week:

• Positive Sentiment: Analysts at Zacks said DocuSign’s upcoming earnings report could benefit from factors supporting a potential earnings beat. The articles encourage investors to monitor earnings expectations ahead of the scheduled quarterly announcement. DocuSign Earnings Expected to Grow
• Positive Sentiment: Recent trading strength across several software stocks, including DocuSign, provided a favorable sector backdrop and helped support investor sentiment toward DOCU. Software Stocks Trade Up
• Neutral Sentiment: DocuSign’s ARR guidance is expected to receive increased attention from Bank of America. Investors will likely scrutinize recurring-revenue growth and management’s outlook because ARR is a key indicator of future subscription performance. DocuSign ARR Guidance
• Neutral Sentiment: Comparisons with Autodesk (NASDAQ: ADSK) frame DocuSign as a potential value opportunity within internet software, but the analysis does not represent a new company catalyst. DOCU Versus ADSK
• Negative Sentiment: Director James A. Beer sold 450 shares worth approximately $28,809. The transaction reduced his holdings by 2.99%, but it was made under a pre-arranged Rule 10b5-1 trading plan and represents only a small portion of his remaining stake, limiting its significance as a bearish signal. DocuSign Director Stock Sale Filing

Insiders Place Their Bets

In other news, CFO Blake Jeffrey Grayson sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $60.00, for a total value of $900,000.00. Following the completion of the transaction, the chief financial officer owned 126,429 shares of the company’s stock, valued at approximately $7,585,740. This trade represents a 10.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 that occurred 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 completion of the transaction, the insider owned 72,805 shares of the company’s stock, valued at $3,131,343.05. This trade represents a 17.93% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 91,780 shares of company stock valued at $4,386,546. 0.59% of the stock is owned by company insiders.

Docusign Trading Up 0.3%

DOCU stock opened at $64.00 on Friday. The company has a market capitalization of $12.22 billion, a PE ratio of 41.56, a P/E/G ratio of 1.86 and a beta of 0.87. Docusign Inc. has a 12-month low of $40.16 and a 12-month high of $86.65. The business’s fifty day moving average price is $53.44 and its 200 day moving average price is $49.15.

Docusign (NASDAQ:DOCU) last announced its 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%.Docusign’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period last year, the business posted $0.90 EPS. Research analysts predict that Docusign Inc. will post 2.06 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.