Clearbridge Investments LLC Raises Position in DocuSign, Inc. (NASDAQ:DOCU)

Clearbridge Investments LLC raised its position in shares of DocuSign, Inc. (NASDAQ:DOCU) by 4.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,920,842 shares of the company’s stock after acquiring an additional 115,616 shares during the quarter. Clearbridge Investments LLC owned approximately 1.43% of DocuSign worth $156,265,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Comerica Bank lifted its stake in shares of DocuSign by 228.8% in the 1st quarter. Comerica Bank now owns 28,901 shares of the company’s stock valued at $1,721,000 after purchasing an additional 20,110 shares during the period. Vanguard Group Inc. raised its holdings in DocuSign by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 21,399,739 shares of the company’s stock worth $1,272,214,000 after purchasing an additional 417,352 shares in the last quarter. Retirement Systems of Alabama purchased a new position in DocuSign during the first quarter valued at $8,700,000. PGGM Investments boosted its holdings in shares of DocuSign by 36.7% during the 2nd quarter. PGGM Investments now owns 49,812 shares of the company’s stock valued at $2,665,000 after buying an additional 13,379 shares in the last quarter. Finally, Advisory Services Network LLC boosted its holdings in shares of DocuSign by 77.8% during the 1st quarter. Advisory Services Network LLC now owns 56,494 shares of the company’s stock valued at $3,364,000 after buying an additional 24,718 shares in the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Bank of America lifted their price target on shares of DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. JMP Securities reiterated a “market outperform” rating and set a $84.00 target price on shares of DocuSign in a report on Thursday, September 5th. Wells Fargo & Company upped their price target on DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a research note on Friday, September 6th. Robert W. Baird lifted their price objective on DocuSign from $55.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Finally, Royal Bank of Canada increased their target price on DocuSign from $52.00 to $57.00 and gave the stock a “sector perform” rating in a research note on Friday, September 6th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, DocuSign currently has a consensus rating of “Hold” and a consensus price target of $63.40.

DocuSign Trading Down 1.1 %

Shares of DOCU opened at $61.42 on Wednesday. The company has a market cap of $12.57 billion, a price-to-earnings ratio of 118.12, a P/E/G ratio of 6.37 and a beta of 0.93. The business’s fifty day simple moving average is $56.52 and its two-hundred day simple moving average is $56.41. DocuSign, Inc. has a 12 month low of $38.11 and a 12 month high of $64.76.

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

Insider Transactions at DocuSign

In related news, CEO Allan C. Thygesen sold 7,725 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $54.89, for a total transaction of $424,025.25. Following the transaction, the chief executive officer now owns 109,918 shares in the company, valued at $6,033,399.02. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CFO Blake Jeffrey Grayson sold 14,036 shares of the firm’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $55.47, for a total value of $778,576.92. Following the transaction, the chief financial officer now directly owns 87,611 shares in the company, valued at approximately $4,859,782.17. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Allan C. Thygesen sold 7,725 shares of DocuSign stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $54.89, for a total value of $424,025.25. Following the completion of the sale, the chief executive officer now directly owns 109,918 shares of the company’s stock, valued at approximately $6,033,399.02. The disclosure for this sale can be found here. Insiders sold 438,154 shares of company stock worth $23,351,788 over the last three months. 1.66% of the stock is currently owned by company insiders.

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.