Docusign Inc. $DOCU Shares Sold by Squarepoint Ops LLC

Squarepoint Ops LLC reduced its stake in Docusign Inc. (NASDAQ:DOCU) by 23.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 896,232 shares of the company’s stock after selling 280,993 shares during the quarter. Squarepoint Ops LLC’s holdings in Docusign were worth $39,811,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. NewEdge Advisors LLC lifted its stake in Docusign by 36.4% during the 1st quarter. NewEdge Advisors LLC now owns 9,202 shares of the company’s stock worth $749,000 after acquiring an additional 2,457 shares in the last quarter. Guggenheim Capital LLC lifted its position in shares of Docusign by 6.7% during the second quarter. Guggenheim Capital LLC now owns 11,543 shares of the company’s stock worth $899,000 after purchasing an additional 729 shares in the last quarter. State Street Corp boosted its stake in shares of Docusign by 3.0% in the second quarter. State Street Corp now owns 8,074,976 shares of the company’s stock valued at $628,960,000 after purchasing an additional 236,494 shares during the period. Sei Investments Co. grew its holdings in shares of Docusign by 60.7% in the second quarter. Sei Investments Co. now owns 40,386 shares of the company’s stock valued at $3,146,000 after purchasing an additional 15,247 shares in the last quarter. Finally, Treasurer of the State of North Carolina increased its stake in 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 buying an additional 63,911 shares during the period. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Insiders Place Their Bets

In other Docusign news, CRO Paula Hansen sold 6,000 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 $273,240.00. Following the completion of the sale, the executive owned 89,972 shares of the company’s stock, valued at approximately $4,097,324.88. This trade represents a 6.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Allan C. Thygesen sold 26,250 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $46.02, for a total transaction of $1,208,025.00. Following the completion of the sale, the chief executive officer owned 159,038 shares of the company’s stock, valued at $7,318,928.76. This trade represents a 14.17% 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 quarter, insiders have sold 135,602 shares of company stock valued at $7,407,299. Corporate insiders own 0.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Royal Bank Of Canada upped their price objective on Docusign from $55.00 to $70.00 and gave the stock a “sector perform” rating in a research report on Friday. Jefferies Financial Group upped their price target on Docusign from $45.00 to $50.00 and gave the stock a “hold” rating in a report on Friday, June 5th. Piper Sandler increased their price target on Docusign from $52.00 to $75.00 and gave the company a “neutral” rating in a research report on Friday. Wall Street Zen cut Docusign from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 2nd. Finally, Evercore set a $65.00 target price on shares of Docusign in a research note on Friday. Three equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $67.33.

Docusign Stock Performance

DOCU opened at $65.08 on Wednesday. Docusign Inc. has a one year low of $40.16 and a one year high of $86.65. The stock has a market capitalization of $12.43 billion, a P/E ratio of 39.68, a price-to-earnings-growth ratio of 2.43 and a beta of 0.90. The business’s 50-day simple moving average is $56.58 and its 200-day simple moving average is $50.21.

Docusign (NASDAQ:DOCU) last issued its quarterly earnings results on Thursday, September 3rd. The company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.07. Docusign had a net margin of 9.82% and a return on equity of 18.29%. The firm had revenue of $875.75 million during the quarter, compared to analysts’ expectations of $867.22 million. During the same quarter in the prior year, the business earned $0.30 EPS. Docusign’s quarterly revenue was up 9.4% compared to the same quarter last year. On average, equities research analysts forecast that Docusign Inc. will post 2.03 EPS for the current fiscal year.

Docusign Company 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.