Ridgepath Capital Management LLC Invests $2.67 Million in Docusign Inc. $DOCU

Ridgepath Capital Management LLC acquired a new stake in Docusign Inc. (NASDAQ:DOCU) in the 1st quarter, Holdings Channel reports. The fund acquired 56,255 shares of the company’s stock, valued at approximately $2,667,000. Docusign comprises approximately 1.3% of Ridgepath Capital Management LLC’s portfolio, making the stock its 18th largest holding.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in DOCU. Central Pacific Bank Trust Division acquired a new stake in Docusign in the fourth quarter worth approximately $25,000. Modus Advisors LLC bought a new position in Docusign during the fourth quarter valued at about $27,000. Torren Management LLC acquired a new position in Docusign during the fourth quarter worth about $28,000. True Wealth Design LLC lifted its holdings in Docusign by 105.2% in the 4th quarter. True Wealth Design LLC now owns 433 shares of the company’s stock valued at $30,000 after acquiring an additional 222 shares during the last quarter. Finally, Aventura Private Wealth LLC bought a new position in shares of Docusign during the 4th quarter valued at about $30,000. Institutional investors own 77.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Wall Street Zen lowered shares of Docusign from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 12th. Wells Fargo & Company reduced their target price on Docusign from $60.00 to $55.00 and set an “equal weight” rating for the company in a report on Friday, June 5th. Citigroup boosted their price objective on Docusign from $50.00 to $54.00 and gave the stock a “neutral” rating in a report on Friday, June 5th. BTIG Research reduced their price objective on shares of Docusign from $70.00 to $60.00 and set a “buy” rating for the company in a research note on Friday, June 5th. Finally, Weiss Ratings raised shares of Docusign from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, July 14th. Three research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Docusign has a consensus rating of “Hold” and a consensus price target of $60.27.

Docusign Trading Down 0.8%

Shares of NASDAQ DOCU opened at $52.30 on Tuesday. Docusign Inc. has a one year low of $40.16 and a one year high of $86.65. The business has a 50-day moving average price of $47.58 and a two-hundred day moving average price of $49.27. The firm has a market capitalization of $9.99 billion, a PE ratio of 33.96, a PEG ratio of 1.55 and a beta of 0.90.

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

Insider Activity at Docusign

In other news, CFO Blake Jeffrey Grayson sold 15,000 shares of the business’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $45.55, for a total transaction of $683,250.00. Following the transaction, the chief financial officer directly owned 141,429 shares in the company, valued at $6,442,090.95. The trade was a 9.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at 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 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 sale, the insider owned 72,805 shares of the company’s stock, valued at approximately $3,131,343.05. This represents a 17.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 76,695 shares of company stock worth $3,476,002. 0.59% of the stock is currently owned by company insiders.

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.