Caxton Associates LLP Invests $4.85 Million in Docusign Inc. $DOCU

Caxton Associates LLP acquired a new stake in Docusign Inc. (NASDAQ:DOCU) in the 1st quarter, Holdings Channel reports. The firm acquired 102,364 shares of the company’s stock, valued at approximately $4,853,000.

Several other hedge funds and other institutional investors have also modified their holdings of DOCU. NewEdge Advisors LLC increased its position in Docusign by 36.4% during the first quarter. NewEdge Advisors LLC now owns 9,202 shares of the company’s stock worth $749,000 after acquiring an additional 2,457 shares during the period. Guggenheim Capital LLC grew its position in Docusign by 6.7% in the 2nd quarter. Guggenheim Capital LLC now owns 11,543 shares of the company’s stock worth $899,000 after purchasing an additional 729 shares during the last quarter. State Street Corp grew its position in Docusign by 3.0% in the 2nd quarter. State Street Corp now owns 8,074,976 shares of the company’s stock worth $628,960,000 after purchasing an additional 236,494 shares during the last quarter. Sei Investments Co. increased its holdings in shares of Docusign by 60.7% during the 2nd quarter. Sei Investments Co. now owns 40,386 shares of the company’s stock worth $3,146,000 after purchasing an additional 15,247 shares during the period. Finally, Treasurer of the State of North Carolina increased its holdings in shares of Docusign by 51.0% during the 2nd quarter. Treasurer of the State of North Carolina now owns 189,178 shares of the company’s stock worth $14,735,000 after purchasing an additional 63,911 shares during the period. Institutional investors and hedge funds own 77.64% of the company’s stock.

Docusign Trading Down 1.8%

Shares of DOCU opened at $47.04 on Friday. Docusign Inc. has a 1 year low of $40.16 and a 1 year high of $86.65. The stock has a 50 day simple moving average of $47.78 and a 200-day simple moving average of $48.87. The stock has a market cap of $8.98 billion, a PE ratio of 30.55, a PEG ratio of 1.41 and a beta of 0.90.

Docusign (NASDAQ:DOCU) last announced its quarterly earnings results on Thursday, June 4th. The company reported $1.09 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 analyst estimates of $824.71 million. Docusign had a return on equity of 17.48% and a net margin of 9.59%.Docusign’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.90 EPS. On average, sell-side analysts forecast that Docusign Inc. will post 2.03 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

DOCU has been the subject of a number of research analyst reports. Wells Fargo & Company cut their price objective on shares of Docusign from $60.00 to $55.00 and set an “equal weight” rating for the company in a research report on Friday, June 5th. Wedbush lowered their price target on Docusign from $60.00 to $58.00 and set a “neutral” rating on the stock in a research note on Friday, June 5th. BTIG Research lowered their price target on Docusign from $70.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday, June 5th. Needham & Company LLC reaffirmed a “hold” rating on shares of Docusign in a report on Friday, June 5th. Finally, Jefferies Financial Group raised their price objective on Docusign from $45.00 to $50.00 and gave the stock a “hold” rating in a research report on Friday, June 5th. Three analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Docusign has an average rating of “Hold” and a consensus price target of $60.27.

Insider Activity

In other news, insider Robert Chatwani sold 15,902 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $43.01, for a total value of $683,945.02. Following the transaction, the insider directly owned 72,805 shares of the company’s stock, valued at $3,131,343.05. The trade was a 17.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider James P. Shaughnessy sold 12,000 shares of the 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 sale, the insider owned 52,815 shares in the company, valued at approximately $2,405,195.10. This trade represents a 18.51% 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 three months, insiders sold 76,695 shares of company stock valued at $3,476,002. Corporate insiders own 0.59% of the company’s stock.

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.