Pale Fire Capital SE Makes New $4.80 Million Investment in Docusign Inc. $DOCU

Pale Fire Capital SE bought a new position in Docusign Inc. (NASDAQ:DOCU) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 108,000 shares of the company’s stock, valued at approximately $4,797,000. Docusign accounts for approximately 0.1% of Pale Fire Capital SE’s holdings, making the stock its 26th biggest position.

A number of other large investors also recently modified their holdings of the company. Bank of America Corp DE boosted its stake in shares of Docusign by 23.3% in the first quarter. Bank of America Corp DE now owns 1,193,163 shares of the company’s stock valued at $56,568,000 after purchasing an additional 225,801 shares during the period. Capital World Investors boosted its position 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 last quarter. Assenagon Asset Management S.A. boosted its position in Docusign by 247.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 349,038 shares of the company’s stock valued at $15,504,000 after buying an additional 248,597 shares during the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new stake in shares of Docusign during the fourth quarter valued at about $6,897,000. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of Docusign during the fourth quarter valued at about $1,750,000. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on DOCU shares. Weiss Ratings upgraded Docusign from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 25th. UBS Group set a $60.00 price target on shares of Docusign in a research report on Friday, June 5th. Wedbush reduced their target price on Docusign from $60.00 to $58.00 and set a “neutral” rating on the stock in a report on Friday, June 5th. Jefferies Financial Group upped their price target on Docusign from $45.00 to $50.00 and gave the company a “hold” rating in a research report on Friday, June 5th. Finally, Bank of America reiterated an “underperform” rating on shares of Docusign in a research note on Friday, August 28th. Four investment 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 a consensus target price of $61.27.

Insiders Place Their Bets

In related news, CFO Blake Jeffrey Grayson sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $60.00, for a total value of $900,000.00. Following the transaction, the chief financial officer directly owned 126,429 shares of the company’s stock, valued at approximately $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 accessible 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 stock in a transaction that occurred on Monday, June 22nd. The shares were 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 in the company, valued at approximately $3,131,343.05. This trade represents a 17.93% decrease in their position. 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. Insiders sold 90,965 shares of company stock worth $4,341,688 in the last three months. 0.59% of the stock is owned by insiders.

Docusign Trading Up 1.2%

Shares of NASDAQ DOCU opened at $65.39 on Thursday. Docusign Inc. has a 12-month low of $40.16 and a 12-month high of $86.65. The company has a market cap of $12.49 billion, a PE ratio of 42.46, a P/E/G ratio of 2.27 and a beta of 0.90. The stock has a 50 day simple moving average of $54.77 and a 200-day simple moving average of $49.59.

Docusign (NASDAQ:DOCU) last released its quarterly earnings data on Thursday, June 4th. The company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.10. The firm had revenue of $830.24 million for the quarter, compared to the consensus estimate of $824.71 million. Docusign had a return on equity of 17.48% and a net margin of 9.59%.The firm’s revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.90 earnings per share. Sell-side analysts forecast that Docusign Inc. will post 2.05 earnings per share 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.