Empowered Funds LLC Makes New Investment in Docusign Inc. $DOCU

by · The Markets Daily

Empowered Funds LLC purchased a new stake in shares of Docusign Inc. (NASDAQ:DOCU – Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 61,214 shares of the company’s stock, valued at approximately $2,719,000.

Several other large investors have also recently modified their holdings of the stock. BlackRock Inc. bought a new stake in shares of Docusign in the 2nd quarter valued at about $927,059,000. State Street Corp boosted its holdings in Docusign by 0.9% during the 4th quarter. State Street Corp now owns 8,193,805 shares of the company’s stock valued at $560,456,000 after acquiring an additional 77,008 shares during the period. Capital World Investors grew its position in Docusign by 38.1% during the 4th quarter. Capital World Investors now owns 5,815,804 shares of the company’s stock worth $397,801,000 after acquiring an additional 1,603,900 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in Docusign by 76.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 5,285,128 shares of the company’s stock worth $250,568,000 after acquiring an additional 2,283,996 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Docusign by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 4,084,463 shares of the company’s stock worth $278,665,000 after purchasing an additional 18,873 shares during the period. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Jefferies Financial Group boosted their price objective on Docusign from $45.00 to $50.00 and gave the company a “hold” rating in a research report on Friday, June 5th. Weiss Ratings upgraded shares of Docusign from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 25th. BTIG Research lifted their target price on shares of Docusign from $60.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday. Needham & Company LLC reiterated a “hold” rating on shares of Docusign in a report on Friday, June 5th. Finally, Wall Street Zen lowered shares of Docusign from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 2nd. Four research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $61.27.

Read Our Latest Analysis on DOCU

Docusign Price Performance

NASDAQ DOCU opened at $65.39 on Thursday. The business’s 50-day moving average is $54.77 and its 200 day moving average is $49.59. The stock has a market capitalization of $12.49 billion, a PE ratio of 42.46, a PEG ratio of 2.27 and a beta of 0.90. Docusign Inc. has a 1 year low of $40.16 and a 1 year high of $86.65.

Docusign (NASDAQ:DOCU – Get Free Report) last released its quarterly earnings data on Thursday, June 4th. The company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.10. The business 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 business’s revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the business posted $0.90 EPS. As a group, equities research analysts anticipate that Docusign Inc. will post 2.05 earnings per share for the current year.

Insider Activity

In related news, insider Robert Chatwani sold 15,902 shares of Docusign stock in a transaction 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 sale, the insider owned 72,805 shares in the company, valued at $3,131,343.05. The trade was a 17.93% decrease in their ownership of the stock. The transaction 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, CRO Paula Hansen sold 6,000 shares of Docusign stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $45.54, for a total transaction of $273,240.00. Following the completion of the sale, the executive owned 89,972 shares in the company, valued at approximately $4,097,324.88. This trade represents a 6.25% 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 ninety days, insiders sold 90,965 shares of company stock valued at $4,341,688. 0.59% of the stock is owned by insiders.

Docusign Profile

(Free Report)

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.

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