Entropy Technologies LP Trims Stake in Docusign Inc. $DOCU

Entropy Technologies LP lessened its position in Docusign Inc. (NASDAQ:DOCU) by 75.2% in the first quarter, HoldingsChannel reports. The firm owned 10,890 shares of the company’s stock after selling 32,955 shares during the quarter. Entropy Technologies LP’s holdings in Docusign were worth $516,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. State Street Corp grew its stake in Docusign by 0.9% in the fourth quarter. State Street Corp now owns 8,193,805 shares of the company’s stock worth $560,456,000 after purchasing an additional 77,008 shares during the period. Capital World Investors raised its holdings in Docusign by 38.1% in the fourth quarter. Capital World Investors now owns 5,815,804 shares of the company’s stock worth $397,801,000 after purchasing an additional 1,603,900 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Docusign by 76.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 5,285,128 shares of the company’s stock valued at $250,568,000 after buying an additional 2,283,996 shares during the period. Geode Capital Management LLC lifted its position in Docusign by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 4,084,463 shares of the company’s stock valued at $278,665,000 after buying an additional 18,873 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Docusign by 8.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,343,613 shares of the company’s stock valued at $228,703,000 after buying an additional 251,639 shares in the last quarter. 77.64% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on DOCU. UBS Group set a $60.00 target price on shares of Docusign in a research report on Friday, June 5th. Wedbush lowered their price target on shares of Docusign from $60.00 to $58.00 and set a “neutral” rating for the company in a research report on Friday, June 5th. Jefferies Financial Group boosted their price objective on shares of Docusign from $45.00 to $50.00 and gave the stock a “hold” rating in a research note on Friday, June 5th. Wells Fargo & Company cut their price objective on shares of Docusign from $60.00 to $55.00 and set an “equal weight” rating on the stock in a report on Friday, June 5th. Finally, BTIG Research cut their price objective on shares of Docusign from $70.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, June 5th. Three research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Docusign currently has an average rating of “Hold” and a consensus price target of $60.27.

Insider Activity at Docusign

In other Docusign news, CEO Allan C. Thygesen sold 26,250 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $46.02, for a total transaction of $1,208,025.00. Following the completion of the sale, the chief executive officer directly owned 159,038 shares in the company, valued at approximately $7,318,928.76. This trade represents a 14.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Blake Jeffrey Grayson sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $45.55, for a total transaction of $683,250.00. Following the sale, the chief financial officer owned 141,429 shares of the company’s stock, valued at approximately $6,442,090.95. This represents a 9.59% 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 a total of 76,695 shares of company stock worth $3,476,002 in the last ninety days. 0.59% of the stock is currently owned by company insiders.

Docusign Trading Up 3.9%

Docusign stock opened at $58.17 on Thursday. The business’s fifty day simple moving average is $48.21 and its two-hundred day simple moving average is $48.51. Docusign Inc. has a 12 month low of $40.16 and a 12 month high of $86.65. The company has a market capitalization of $11.11 billion, a price-to-earnings ratio of 37.77, a price-to-earnings-growth ratio of 1.65 and a beta of 0.90.

Docusign (NASDAQ:DOCU) last issued its quarterly earnings results on Thursday, June 4th. The company reported $1.09 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.10. The firm had revenue of $830.24 million during 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 company’s revenue was up 8.7% on a year-over-year basis. During the same period last year, the company earned $0.90 earnings per share. On average, equities research analysts predict that Docusign Inc. will post 2.03 EPS for the current year.

Docusign 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.