113,785 Shares in Docusign Inc. $DOCU Acquired by Chase Investment Counsel Corp

Chase Investment Counsel Corp purchased a new stake in Docusign Inc. (NASDAQ:DOCU) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 113,785 shares of the company’s stock, valued at approximately $5,054,000. Chase Investment Counsel Corp owned approximately 0.06% of Docusign as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. NewEdge Advisors LLC grew its position in shares of Docusign by 36.4% in the 1st quarter. NewEdge Advisors LLC now owns 9,202 shares of the company’s stock valued at $749,000 after buying an additional 2,457 shares during the last quarter. Guggenheim Capital LLC lifted its position in Docusign by 6.7% in the second quarter. Guggenheim Capital LLC now owns 11,543 shares of the company’s stock valued at $899,000 after acquiring an additional 729 shares during the last quarter. State Street Corp lifted its position in Docusign by 3.0% in the second quarter. State Street Corp now owns 8,074,976 shares of the company’s stock valued at $628,960,000 after acquiring an additional 236,494 shares during the last quarter. Sei Investments Co. boosted its stake in Docusign by 60.7% in the second quarter. Sei Investments Co. now owns 40,386 shares of the company’s stock valued at $3,146,000 after acquiring an additional 15,247 shares in the last quarter. Finally, Treasurer of the State of North Carolina boosted its stake in Docusign by 51.0% in the second quarter. Treasurer of the State of North Carolina now owns 189,178 shares of the company’s stock valued at $14,735,000 after acquiring an additional 63,911 shares in the last quarter. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on DOCU shares. Wall Street Zen lowered Docusign from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 2nd. Jefferies Financial Group boosted their target price on Docusign from $45.00 to $50.00 and gave the company a “hold” rating in a report on Friday, June 5th. UBS Group set a $60.00 target price on Docusign in a research report on Friday, June 5th. Wells Fargo & Company dropped their price target on Docusign from $60.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Friday, June 5th. Finally, BTIG Research cut their price target on Docusign from $70.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, June 5th. Three analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $60.27.

Insiders Place Their Bets

In related news, CEO Allan C. Thygesen sold 26,250 shares of Docusign stock in a transaction that occurred on 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 sale, the chief executive officer directly owned 159,038 shares in the company, valued at $7,318,928.76. The trade was a 14.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 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 completion of the transaction, the insider owned 72,805 shares of the company’s stock, valued at $3,131,343.05. The trade was a 17.93% 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. Over the last ninety days, insiders sold 91,695 shares of company stock worth $4,376,002. Corporate insiders own 0.59% of the company’s stock.

Docusign Price Performance

NASDAQ DOCU opened at $62.04 on Monday. The stock has a market capitalization of $11.85 billion, a P/E ratio of 40.29, a P/E/G ratio of 1.83 and a beta of 0.87. Docusign Inc. has a 52-week low of $40.16 and a 52-week high of $86.65. The firm has a 50-day moving average price of $49.99 and a 200 day moving average price of $48.36.

Docusign (NASDAQ:DOCU) last announced its quarterly earnings data on Thursday, June 4th. The company reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.10. Docusign had a return on equity of 17.48% and a net margin of 9.59%.The company had revenue of $830.24 million for the quarter, compared to analyst estimates of $824.71 million. During the same quarter in the previous year, the company earned $0.90 EPS. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. On average, equities research analysts expect that Docusign Inc. will post 2.03 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.