Sanctuary Advisors LLC Takes $474,000 Position in Docusign Inc. $DOCU

Sanctuary Advisors LLC acquired a new stake in Docusign Inc. (NASDAQ:DOCU) in the second quarter, Holdings Channel reports. The fund acquired 10,678 shares of the company’s stock, valued at approximately $474,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Smartleaf Asset Management LLC increased its stake in Docusign by 8.2% in the 2nd quarter. Smartleaf Asset Management LLC now owns 2,169 shares of the company’s stock valued at $166,000 after buying an additional 165 shares during the last quarter. Centaurus Financial Inc. increased its holdings in shares of Docusign by 3.4% in the third quarter. Centaurus Financial Inc. now owns 5,582 shares of the company’s stock worth $402,000 after purchasing an additional 184 shares during the period. Tred Avon Family Wealth LLC boosted its position in shares of Docusign by 3.6% during the 1st quarter. Tred Avon Family Wealth LLC now owns 6,176 shares of the company’s stock valued at $293,000 after acquiring an additional 215 shares during the last quarter. First Citizens Bank & Trust Co. grew its position in Docusign by 2.1% in the first quarter. First Citizens Bank & Trust Co. now owns 11,745 shares of the company’s stock worth $557,000 after acquiring an additional 239 shares in the last quarter. Finally, Composition Wealth LLC increased its position in shares of Docusign by 8.0% during the 4th quarter. Composition Wealth LLC now owns 3,325 shares of the company’s stock valued at $227,000 after purchasing an additional 247 shares during the last quarter. 77.64% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider James P. Shaughnessy sold 12,000 shares of Docusign stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $45.54, for a total transaction of $546,480.00. Following the sale, the insider owned 52,815 shares in the company, valued at $2,405,195.10. This trade represents a 18.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James A. Beer sold 450 shares of the business’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of $64.02, for a total transaction of $28,809.00. Following the completion of the sale, the director owned 14,586 shares in the company, valued at approximately $933,795.72. The trade was a 2.99% 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 have sold a total of 91,780 shares of company stock worth $4,386,546 in the last three months. 0.59% of the stock is owned by company insiders.

Docusign Price Performance

Shares of DOCU stock opened at $64.00 on Friday. The firm has a fifty day moving average price of $53.44 and a 200-day moving average price of $49.15. The company has a market cap of $12.22 billion, a price-to-earnings ratio of 41.56, a PEG ratio of 1.86 and a beta of 0.87. Docusign Inc. has a 1 year low of $40.16 and a 1 year high of $86.65.

Docusign (NASDAQ:DOCU) last posted its quarterly earnings data on Thursday, June 4th. The company reported $1.09 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $824.71 million. During the same quarter last year, the company earned $0.90 earnings per share. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. Equities research analysts expect that Docusign Inc. will post 2.06 EPS for the current year.

Trending Headlines about Docusign

Here are the key news stories impacting Docusign this week:

• Positive Sentiment: Analysts at Zacks said DocuSign’s upcoming earnings report could benefit from factors supporting a potential earnings beat. The articles encourage investors to monitor earnings expectations ahead of the scheduled quarterly announcement. DocuSign Earnings Expected to Grow
• Positive Sentiment: Recent trading strength across several software stocks, including DocuSign, provided a favorable sector backdrop and helped support investor sentiment toward DOCU. Software Stocks Trade Up
• Neutral Sentiment: DocuSign’s ARR guidance is expected to receive increased attention from Bank of America. Investors will likely scrutinize recurring-revenue growth and management’s outlook because ARR is a key indicator of future subscription performance. DocuSign ARR Guidance
• Neutral Sentiment: Comparisons with Autodesk (NASDAQ: ADSK) frame DocuSign as a potential value opportunity within internet software, but the analysis does not represent a new company catalyst. DOCU Versus ADSK
• Negative Sentiment: Director James A. Beer sold 450 shares worth approximately $28,809. The transaction reduced his holdings by 2.99%, but it was made under a pre-arranged Rule 10b5-1 trading plan and represents only a small portion of his remaining stake, limiting its significance as a bearish signal. DocuSign Director Stock Sale Filing

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on DOCU. BTIG Research reduced their price objective on Docusign from $70.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday, June 5th. Wall Street Zen lowered Docusign from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 2nd. Jefferies Financial Group raised their target price on shares of Docusign from $45.00 to $50.00 and gave the company a “hold” rating in a research note on Friday, June 5th. Needham & Company LLC reissued a “hold” rating on shares of Docusign in a research report on Friday, June 5th. Finally, UBS Group set a $60.00 price target on Docusign in a research note on Friday, June 5th. Four equities research 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’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $60.27.

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.