DocuSign, Inc. (NASDAQ:DOCU) Shares Sold by Clearbridge Investments LLC

Clearbridge Investments LLC lowered its stake in shares of DocuSign, Inc. (NASDAQ:DOCU) by 3.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,677,010 shares of the company’s stock after selling 87,650 shares during the period. Clearbridge Investments LLC’s holdings in DocuSign were worth $240,770,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Schroder Investment Management Group boosted its stake in shares of DocuSign by 8.4% during the 4th quarter. Schroder Investment Management Group now owns 825,227 shares of the company’s stock worth $75,673,000 after acquiring an additional 64,228 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in DocuSign by 201.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,158,311 shares of the company’s stock valued at $194,118,000 after purchasing an additional 1,442,639 shares in the last quarter. PARUS FINANCE UK Ltd acquired a new position in DocuSign during the fourth quarter worth $1,862,000. Allstate Corp purchased a new stake in DocuSign during the fourth quarter worth $531,000. Finally, Horizon Investment Services LLC acquired a new stake in DocuSign in the fourth quarter valued at $479,000. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Allan C. Thygesen sold 40,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $90.04, for a total transaction of $3,601,600.00. Following the completion of the sale, the chief executive officer now owns 156,050 shares in the company, valued at approximately $14,050,742. The trade was a 20.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert Chatwani sold 15,706 shares of the firm’s stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $83.19, for a total transaction of $1,306,582.14. Following the completion of the transaction, the insider now owns 76,842 shares in the company, valued at $6,392,485.98. The trade was a 16.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 97,851 shares of company stock worth $8,579,369 over the last three months. 1.66% of the stock is owned by insiders.

Analysts Set New Price Targets

DOCU has been the subject of several research reports. Piper Sandler lifted their price target on DocuSign from $60.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Wedbush restated a “neutral” rating and set a $100.00 target price on shares of DocuSign in a research report on Friday, March 14th. Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a report on Friday, March 14th. Bank of America dropped their price objective on shares of DocuSign from $112.00 to $98.00 and set a “neutral” rating for the company in a research note on Friday, March 14th. Finally, Wells Fargo & Company upped their target price on DocuSign from $70.00 to $73.00 and gave the company an “underweight” rating in a research note on Friday, March 14th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $95.00.

DocuSign Stock Performance

DocuSign stock opened at $83.18 on Monday. DocuSign, Inc. has a 1 year low of $48.70 and a 1 year high of $107.86. The firm has a 50 day moving average price of $87.18 and a 200 day moving average price of $81.54. The company has a market cap of $16.84 billion, a price-to-earnings ratio of 17.15, a PEG ratio of 6.94 and a beta of 1.02.

DocuSign (NASDAQ:DOCU) last announced its quarterly earnings data on Thursday, March 13th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.02. The company had revenue of $776.25 million during the quarter, compared to analysts’ expectations of $760.94 million. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. The business’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.76 EPS. Sell-side analysts predict that DocuSign, Inc. will post 1.17 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.