10,466 Shares in Docusign Inc. $DOCU Acquired by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC bought a new stake in shares of Docusign Inc. (NASDAQ:DOCU) in the 2nd quarter, HoldingsChannel reports. The firm bought 10,466 shares of the company’s stock, valued at approximately $465,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of DOCU. Modus Advisors LLC purchased a new stake in shares of Docusign during the 4th quarter valued at $27,000. Torren Management LLC purchased a new position in Docusign in the fourth quarter worth $28,000. Cary Street Partners Investment Advisory LLC increased its stake in Docusign by 309.5% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 561 shares of the company’s stock valued at $38,000 after acquiring an additional 424 shares during the last quarter. Basepoint Wealth LLC purchased a new stake in Docusign during the fourth quarter valued at about $39,000. Finally, WealthCollab LLC raised its position in Docusign by 372.4% during the first quarter. WealthCollab LLC now owns 855 shares of the company’s stock valued at $41,000 after purchasing an additional 674 shares in the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Docusign Price Performance

Shares of Docusign stock opened at $62.28 on Friday. The business’s 50 day simple moving average is $51.25 and its two-hundred day simple moving average is $48.55. The stock has a market capitalization of $11.89 billion, a P/E ratio of 40.44, a price-to-earnings-growth ratio of 1.83 and a beta of 0.87. Docusign Inc. has a one year low of $40.16 and a one year high of $86.65.

Docusign (NASDAQ:DOCU) last released its quarterly earnings data on Thursday, June 4th. The company reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.10. Docusign had a return on equity of 17.48% and a net margin of 9.59%.The firm had revenue of $830.24 million during the quarter, compared to analyst estimates of $824.71 million. During the same quarter in the prior year, the firm posted $0.90 earnings per share. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. Sell-side analysts expect that Docusign Inc. will post 2.03 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently issued reports on DOCU. BTIG Research cut their price objective on Docusign from $70.00 to $60.00 and set a “buy” rating for the company in a report on Friday, June 5th. Wedbush decreased 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. Citizens Jmp restated a “market outperform” rating and issued a $86.00 target price on shares of Docusign in a research report on Tuesday. Jefferies Financial Group upped their target price on Docusign from $45.00 to $50.00 and gave the stock a “hold” rating in a research note on Friday, June 5th. Finally, Weiss Ratings upgraded shares of Docusign from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, July 14th. Four investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $60.27.

Insider Activity at Docusign

In other Docusign news, CFO Blake Jeffrey Grayson sold 15,000 shares of the firm’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $60.00, for a total value of $900,000.00. Following the sale, the chief financial officer owned 126,429 shares of the company’s stock, valued at $7,585,740. This trade represents a 10.61% 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 James P. Shaughnessy sold 12,000 shares of the business’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $45.54, for a total transaction of $546,480.00. Following the completion of the transaction, the insider owned 52,815 shares in the company, valued at $2,405,195.10. The trade was a 18.51% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 91,695 shares of company stock worth $4,376,002 over the last ninety days. 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.