Clearbridge Investments LLC Acquires 115,616 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Clearbridge Investments LLC grew its holdings in DocuSign, Inc. (NASDAQ:DOCU) by 4.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,920,842 shares of the company’s stock after acquiring an additional 115,616 shares during the period. Clearbridge Investments LLC’s holdings in DocuSign were worth $156,265,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Coatue Management LLC bought a new position in DocuSign in the 4th quarter worth $288,274,000. Jericho Capital Asset Management L.P. raised its stake in shares of DocuSign by 316.6% in the first quarter. Jericho Capital Asset Management L.P. now owns 3,417,908 shares of the company’s stock worth $203,536,000 after buying an additional 2,597,489 shares during the period. Thrivent Financial for Lutherans purchased a new position in shares of DocuSign during the 2nd quarter valued at about $115,795,000. Pacer Advisors Inc. grew its stake in shares of DocuSign by 77.9% during the 2nd quarter. Pacer Advisors Inc. now owns 3,519,969 shares of the company’s stock valued at $188,318,000 after acquiring an additional 1,541,816 shares during the period. Finally, Renaissance Technologies LLC raised its stake in DocuSign by 18.3% during the 2nd quarter. Renaissance Technologies LLC now owns 3,729,314 shares of the company’s stock worth $199,518,000 after acquiring an additional 576,414 shares during the period. 77.64% of the stock is currently owned by institutional investors.

DocuSign Trading Down 1.1 %

NASDAQ:DOCU opened at $61.42 on Wednesday. The business’s 50-day moving average is $56.52 and its 200 day moving average is $56.41. DocuSign, Inc. has a 12 month low of $38.11 and a 12 month high of $64.76. The company has a market capitalization of $12.57 billion, a P/E ratio of 118.12, a P/E/G ratio of 6.37 and a beta of 0.93.

DocuSign (NASDAQ:DOCU) last posted its earnings results on Thursday, September 5th. The company reported $0.97 EPS 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 firm had revenue of $736.03 million during the quarter, compared to the consensus estimate of $727.20 million. During the same period in the prior year, the company earned $0.09 EPS. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. On average, research analysts forecast that DocuSign, Inc. will post 0.99 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on DOCU. Wells Fargo & Company lifted their price target on shares of DocuSign from $48.00 to $50.00 and gave the company an “underweight” 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 company a “buy” rating in a research note on Friday, September 6th. JMP Securities reiterated a “market outperform” rating and issued a $84.00 price target on shares of DocuSign in a research note on Thursday, September 5th. Morgan Stanley lowered their price objective on DocuSign from $65.00 to $62.00 and set an “equal weight” rating on the stock in a research report on Friday, June 7th. Finally, Piper Sandler decreased their target price on DocuSign from $65.00 to $60.00 and set a “neutral” rating on the stock in a research note on Friday, June 7th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, DocuSign has an average rating of “Hold” and an average price target of $63.40.

Insider Buying and Selling at DocuSign

In other DocuSign news, insider Stephen Shute sold 35,300 shares of DocuSign stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $52.87, for a total value of $1,866,311.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Stephen Shute sold 35,300 shares of DocuSign stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $52.87, for a total value of $1,866,311.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Daniel D. Springer sold 70,983 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $49.84, for a total value of $3,537,792.72. Following the sale, the director now owns 891,373 shares in the company, valued at $44,426,030.32. The disclosure for this sale can be found here. Insiders sold 438,154 shares of company stock worth $23,351,788 over the last 90 days. 1.66% of the stock is owned by insiders.

About DocuSign

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.