Heron Bay Capital Management Acquires New Holdings in Docusign Inc. $DOCU

Heron Bay Capital Management bought a new stake in Docusign Inc. (NASDAQ:DOCU) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 96,243 shares of the company’s stock, valued at approximately $4,275,000.

Several other hedge funds also recently bought and sold shares of DOCU. Modus Advisors LLC acquired a new position in shares of Docusign in the 4th quarter valued at $27,000. Torren Management LLC bought a new stake in shares of Docusign in the 4th quarter valued at $28,000. Cary Street Partners Investment Advisory LLC raised its stake in Docusign by 309.5% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 561 shares of the company’s stock worth $38,000 after buying an additional 424 shares during the period. Basepoint Wealth LLC acquired a new stake in Docusign during the 4th quarter worth $39,000. Finally, Harbour Investments Inc. lifted its holdings in Docusign by 56.6% during the fourth quarter. Harbour Investments Inc. now owns 797 shares of the company’s stock worth $55,000 after acquiring an additional 288 shares in the last quarter. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Docusign

In other Docusign news, CEO Allan C. Thygesen sold 26,250 shares of the company’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 transaction of $1,208,025.00. Following the completion of the transaction, the chief executive officer owned 159,038 shares of the company’s stock, valued at $7,318,928.76. This represents a 14.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robert Chatwani sold 15,902 shares of the firm’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 transaction 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. This represents a 17.93% 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. Insiders sold 91,695 shares of company stock valued at $4,376,002 in the last 90 days. 0.59% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. UBS Group set a $60.00 target price on Docusign in a research note on Friday, June 5th. BTIG Research dropped their price target on Docusign from $70.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, June 5th. Wedbush cut their price objective on Docusign from $60.00 to $58.00 and set a “neutral” rating on the stock in a report on Friday, June 5th. 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. Finally, Citigroup reissued a “market outperform” rating on shares of Docusign in a research note on Tuesday. 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. According to MarketBeat, Docusign currently has an average rating of “Hold” and a consensus target price of $60.27.

Docusign Trading Down 0.4%

Shares of NASDAQ DOCU opened at $62.00 on Friday. The company has a fifty day moving average price of $51.59 and a 200 day moving average price of $48.64. The firm has a market cap of $11.84 billion, a PE ratio of 40.26, a PEG ratio of 1.84 and a beta of 0.87. Docusign Inc. has a 1-year low of $40.16 and a 1-year high of $86.65.

Docusign (NASDAQ:DOCU) last released its quarterly earnings results on Thursday, June 4th. The company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.10. The firm had revenue of $830.24 million for the quarter, compared to the consensus estimate of $824.71 million. Docusign had a return on equity of 17.48% and a net margin of 9.59%.The company’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter last year, the business posted $0.90 EPS. Equities research analysts forecast that Docusign Inc. will post 2.03 EPS for the current 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.