Man Group plc Buys Shares of 1,186,717 Docusign Inc. $DOCU

Man Group plc purchased a new position in shares of Docusign Inc. (NASDAQ:DOCU) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,186,717 shares of the company’s stock, valued at approximately $52,714,000. Man Group plc owned approximately 0.62% of Docusign as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Modus Advisors LLC acquired a new position in shares of Docusign in the fourth quarter valued at approximately $27,000. Torren Management LLC acquired a new stake in Docusign during the 4th quarter worth approximately $28,000. Cary Street Partners Investment Advisory LLC boosted its position 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 during the period. Basepoint Wealth LLC purchased a new position in Docusign in the 4th quarter valued at approximately $39,000. Finally, WealthCollab LLC boosted its position in Docusign by 372.4% in the 1st quarter. WealthCollab LLC now owns 855 shares of the company’s stock valued at $41,000 after buying an additional 674 shares during the period. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Docusign Stock Down 3.2%

Shares of Docusign stock opened at $60.54 on Wednesday. Docusign Inc. has a 52-week low of $40.16 and a 52-week high of $86.65. The company’s 50-day simple moving average is $52.28 and its 200-day simple moving average is $48.83. The firm has a market cap of $11.56 billion, a price-to-earnings ratio of 39.31, a price-to-earnings-growth ratio of 1.83 and a beta of 0.87.

Docusign (NASDAQ:DOCU) last announced its quarterly earnings data on Thursday, June 4th. The company reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.10. Docusign had a net margin of 9.59% and a return on equity of 17.48%. The firm had revenue of $830.24 million during the quarter, compared to the consensus estimate of $824.71 million. During the same quarter last year, the firm earned $0.90 earnings per share. The firm’s revenue was up 8.7% compared to the same quarter last year. Equities research analysts anticipate that Docusign Inc. will post 2.04 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Allan C. Thygesen sold 26,250 shares of Docusign stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $46.02, for a total value of $1,208,025.00. Following the sale, the chief executive officer directly owned 159,038 shares in the company, valued at $7,318,928.76. The trade was a 14.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 company’s stock in a transaction 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 in the company, valued at $3,131,343.05. This represents a 17.93% 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. Over the last ninety days, insiders sold 91,695 shares of company stock worth $4,376,002. Corporate insiders own 0.59% of the company’s stock.

Analyst Upgrades and Downgrades

DOCU has been the topic of a number of recent research reports. BTIG Research cut their price objective on Docusign from $70.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, June 5th. UBS Group set a $60.00 target price on Docusign in a report on Friday, June 5th. Wedbush lowered their target price on Docusign from $60.00 to $58.00 and set a “neutral” rating for the company in a research note on Friday, June 5th. Wells Fargo & Company cut 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. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Docusign in a research report on Tuesday, August 18th. Four analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $60.27.

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.