Bank of New York Mellon Corp Purchases New Holdings in Docusign Inc. $DOCU

Bank of New York Mellon Corp purchased a new position in shares of Docusign Inc. (NASDAQ:DOCU) during the second quarter, Holdings Channel reports. The firm purchased 1,265,623 shares of the company’s stock, valued at approximately $56,219,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Docusign in the fourth quarter worth $186,795,000. Arrowstreet Capital Limited Partnership grew its stake in Docusign by 76.1% during the first 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 holdings in Docusign by 38.1% in the 4th quarter. Capital World Investors now owns 5,815,804 shares of the company’s stock valued at $397,801,000 after buying an additional 1,603,900 shares during the period. SG Americas Securities LLC lifted its holdings in shares of Docusign by 452.3% during the 1st quarter. SG Americas Securities LLC now owns 1,314,632 shares of the company’s stock worth $62,327,000 after acquiring an additional 1,076,622 shares during the period. Finally, Woodline Partners LP lifted its holdings in shares of Docusign by 24,412.7% during the 3rd quarter. Woodline Partners LP now owns 958,938 shares of the company’s stock worth $69,130,000 after acquiring an additional 955,026 shares during the period. Institutional investors own 77.64% of the company’s stock.

Insider Buying and Selling at Docusign

In other news, CEO Allan C. Thygesen sold 26,250 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer owned 159,038 shares of the company’s stock, valued at approximately $7,318,928.76. This represents a 14.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through 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 firm’s stock in a transaction dated 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 owned 72,805 shares of the company’s stock, valued at $3,131,343.05. This trade 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 worth $4,376,002 over the last 90 days. Company insiders own 0.59% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on DOCU shares. UBS Group set a $60.00 price objective on shares of Docusign in a research note on Friday, June 5th. Weiss Ratings upgraded Docusign from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday. Citizens Jmp reaffirmed a “market outperform” rating and issued a $86.00 price objective on shares of Docusign in a research note on Tuesday, August 18th. 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. Finally, BTIG Research dropped their target price on shares of Docusign from $70.00 to $60.00 and set a “buy” rating for the company in a report on Friday, June 5th. Four investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $60.27.

Docusign Trading Down 2.0%

Shares of DOCU stock opened at $59.33 on Thursday. The firm has a market capitalization of $11.33 billion, a price-to-earnings ratio of 38.53, a PEG ratio of 1.77 and a beta of 0.87. The business’s 50-day moving average price is $52.62 and its 200-day moving average price is $48.93. Docusign Inc. has a 12 month low of $40.16 and a 12 month high of $86.65.

Docusign (NASDAQ:DOCU) last issued its quarterly earnings data on Thursday, June 4th. The company reported $1.09 earnings per share (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 business had revenue of $830.24 million during the quarter, compared to analyst estimates of $824.71 million. During the same quarter last year, the business earned $0.90 EPS. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. On average, sell-side analysts predict that Docusign Inc. will post 2.04 earnings per share for the current fiscal 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.