Plato Investment Management Ltd Purchases New Position in Docusign Inc. $DOCU

Plato Investment Management Ltd purchased a new stake in Docusign Inc. (NASDAQ:DOCU) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 12,138 shares of the company’s stock, valued at approximately $536,000.

Several other hedge funds have also recently bought and sold shares of DOCU. Modus Advisors LLC bought a new position in shares of Docusign during the fourth quarter worth approximately $27,000. Torren Management LLC bought a new stake in Docusign in the 4th quarter valued at $28,000. Cary Street Partners Investment Advisory LLC grew its holdings in Docusign by 309.5% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 561 shares of the company’s stock valued at $38,000 after buying an additional 424 shares in the last quarter. Basepoint Wealth LLC acquired a new position in Docusign in the 4th quarter valued at $39,000. Finally, WealthCollab LLC increased its position in Docusign by 372.4% during the 1st quarter. WealthCollab LLC now owns 855 shares of the company’s stock worth $41,000 after buying an additional 674 shares during the period. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on DOCU shares. BTIG Research dropped their target price on Docusign from $70.00 to $60.00 and set a “buy” rating for the company in a report on Friday, June 5th. Citigroup reiterated a “market outperform” rating on shares of Docusign in a research note on Tuesday. Needham & Company LLC restated a “hold” rating on shares of Docusign in a research report on Friday, June 5th. Weiss Ratings upgraded shares of Docusign from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, July 14th. Finally, Jefferies Financial Group lifted their price target on shares of Docusign from $45.00 to $50.00 and gave the company a “hold” rating in a research report on Friday, June 5th. Four analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $60.27.

Docusign Trading Up 0.3%

Shares of NASDAQ:DOCU opened at $60.01 on Wednesday. The firm has a 50 day moving average of $50.56 and a 200-day moving average of $48.42. The stock has a market capitalization of $11.46 billion, a PE ratio of 38.97, a PEG ratio of 1.83 and a beta of 0.87. Docusign Inc. has a 12 month low of $40.16 and a 12 month high of $86.65.

Docusign (NASDAQ:DOCU) last issued its quarterly 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. The company had revenue of $830.24 million during the quarter, compared to the consensus estimate of $824.71 million. Docusign had a net margin of 9.59% and a return on equity of 17.48%. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.90 EPS. On average, research analysts predict that Docusign Inc. will post 2.03 EPS for the current fiscal year.

Insider Activity

In other Docusign news, 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 completion of the transaction, the insider directly owned 72,805 shares in the company, valued at approximately $3,131,343.05. This represents a 17.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through 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 the firm’s stock in a transaction 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 directly owned 52,815 shares of the company’s stock, valued at approximately $2,405,195.10. This represents a 18.51% decrease in their ownership of the stock. 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 91,695 shares of company stock valued at $4,376,002. 0.59% of the stock is currently owned by insiders.

Docusign 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.