Clearline Capital LP Makes New $1.50 Million Investment in DocuSign, Inc. (NASDAQ:DOCU)

Clearline Capital LP purchased a new stake in DocuSign, Inc. (NASDAQ:DOCU) during the second quarter, according to its most recent 13F filing with the SEC. The firm purchased 28,067 shares of the company’s stock, valued at approximately $1,502,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of DOCU. Coatue Management LLC purchased a new stake in DocuSign during the fourth quarter valued at approximately $288,274,000. Jericho Capital Asset Management L.P. lifted its holdings in shares of DocuSign by 316.6% during the 1st quarter. Jericho Capital Asset Management L.P. now owns 3,417,908 shares of the company’s stock valued at $203,536,000 after purchasing an additional 2,597,489 shares during the last quarter. Thrivent Financial for Lutherans acquired a new stake in shares of DocuSign in the 2nd quarter worth $115,795,000. Pacer Advisors Inc. grew its stake in DocuSign by 77.9% during the 2nd quarter. Pacer Advisors Inc. now owns 3,519,969 shares of the company’s stock worth $188,318,000 after buying an additional 1,541,816 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in DocuSign by 18.3% during the 2nd quarter. Renaissance Technologies LLC now owns 3,729,314 shares of the company’s stock valued at $199,518,000 after buying an additional 576,414 shares in the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Insider Buying and Selling at DocuSign

In other news, CEO Allan C. Thygesen sold 7,911 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $53.77, for a total transaction of $425,374.47. Following the sale, the chief executive officer now owns 117,643 shares of the company’s stock, valued at approximately $6,325,664.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other DocuSign news, insider Robert Chatwani sold 14,799 shares of the stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $55.46, for a total transaction of $820,752.54. Following the transaction, the insider now owns 70,748 shares in the company, valued at $3,923,684.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Allan C. Thygesen sold 7,911 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $53.77, for a total value of $425,374.47. Following the completion of the sale, the chief executive officer now directly owns 117,643 shares in the company, valued at $6,325,664.11. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 446,065 shares of company stock valued at $23,777,163. 1.66% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Bank of America raised their price target on DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Citigroup lifted their target price on shares of DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Royal Bank of Canada upped their price target on shares of DocuSign from $52.00 to $57.00 and gave the company a “sector perform” rating in a research note on Friday, September 6th. Piper Sandler lowered their price objective on shares of DocuSign from $65.00 to $60.00 and set a “neutral” rating for the company in a research note on Friday, June 7th. Finally, Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a report on Friday, September 6th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, DocuSign currently has an average rating of “Hold” and an average target price of $63.40.

DocuSign Price Performance

Shares of DocuSign stock opened at $61.67 on Friday. The stock has a market cap of $12.62 billion, a PE ratio of 118.60, a price-to-earnings-growth ratio of 6.37 and a beta of 0.93. The firm has a fifty day moving average price of $56.30 and a 200 day moving average price of $56.38. DocuSign, Inc. has a 1 year low of $38.11 and a 1 year high of $64.76.

DocuSign (NASDAQ:DOCU) last released its quarterly earnings data on Thursday, September 5th. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.17. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. The business had revenue of $736.03 million during the quarter, compared to analyst estimates of $727.20 million. During the same quarter last year, the business posted $0.09 EPS. The company’s revenue was up 7.0% on a year-over-year basis. As a group, equities analysts expect that DocuSign, Inc. will post 0.99 EPS for the current year.

DocuSign Company Profile

DocuSign, Inc provides electronic signature solution in the United States and internationally. The company provides e-signature solution that enables sending and signing of agreements on various devices; Contract Lifecycle Management (CLM), which automates workflows across the entire agreement process; Document Generation streamlines the process of generating new, custom agreements; and Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce.