Pacer Advisors Inc. Purchases 329,403 Shares of Docusign Inc. $DOCU

Pacer Advisors Inc. grew its position in Docusign Inc. (NASDAQ:DOCU) by 43.2% in the first quarter, HoldingsChannel.com reports. The firm owned 1,092,037 shares of the company’s stock after acquiring an additional 329,403 shares during the period. Pacer Advisors Inc.’s holdings in Docusign were worth $51,773,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new position in shares of Docusign during the 4th quarter valued at $186,795,000. Arrowstreet Capital Limited Partnership increased its stake in Docusign by 76.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 5,285,128 shares of the company’s stock worth $250,568,000 after buying an additional 2,283,996 shares in the last quarter. Capital World Investors increased its stake in Docusign by 38.1% in the 4th quarter. Capital World Investors now owns 5,815,804 shares of the company’s stock worth $397,801,000 after buying an additional 1,603,900 shares in the last quarter. SG Americas Securities LLC raised its holdings in Docusign by 452.3% during the first quarter. SG Americas Securities LLC now owns 1,314,632 shares of the company’s stock valued at $62,327,000 after acquiring an additional 1,076,622 shares during the period. Finally, Woodline Partners LP raised its holdings in Docusign by 24,412.7% during the third quarter. Woodline Partners LP now owns 958,938 shares of the company’s stock valued at $69,130,000 after acquiring an additional 955,026 shares during the period. 77.64% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Docusign

In other news, CRO Paula Hansen sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $45.54, for a total transaction of $273,240.00. Following the sale, the executive directly owned 89,972 shares of the company’s stock, valued at $4,097,324.88. This represents a 6.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 the 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 transaction, the insider 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. Over the last ninety days, insiders sold 76,695 shares of company stock worth $3,476,002. Company insiders own 0.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on DOCU. BTIG Research dropped their price objective on Docusign from $70.00 to $60.00 and set a “buy” rating for the company in a research note on Friday, June 5th. Wells Fargo & Company lowered their price target on Docusign from $60.00 to $55.00 and set an “equal weight” rating on the stock in a report on Friday, June 5th. Needham & Company LLC restated a “hold” rating on shares of Docusign in a research note on Friday, June 5th. Wedbush cut their price objective on shares of Docusign from $60.00 to $58.00 and set a “neutral” rating for the company in a report on Friday, June 5th. Finally, UBS Group set a $60.00 price objective on shares of Docusign in a research report on Friday, June 5th. Three equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $60.27.

Docusign Trading Up 0.5%

Shares of DOCU stock opened at $55.13 on Tuesday. The stock has a market capitalization of $10.53 billion, a price-to-earnings ratio of 35.80, a price-to-earnings-growth ratio of 1.62 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 stock’s 50-day moving average price is $48.53 and its 200-day moving average price is $48.25.

Docusign (NASDAQ:DOCU) last announced its quarterly 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 analyst estimates of $824.71 million. Docusign had a return on equity of 17.48% and a net margin of 9.59%.The firm’s revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.90 earnings per share. As a group, research analysts predict that Docusign Inc. will post 2.03 EPS for the current fiscal year.

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.