Clearbridge Investments LLC Trims Stock Holdings in DocuSign, Inc. (NASDAQ:DOCU)

Clearbridge Investments LLC lessened its stake in DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 3.2% in the fourth quarter, according to its most recent filing with the Securities & 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 owned 1.33% of DocuSign worth $240,770,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. The Manufacturers Life Insurance Company increased its stake in DocuSign by 2.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 53,508 shares of the company's stock valued at $3,322,000 after buying an additional 1,248 shares during the period. FMR LLC grew its stake in shares of DocuSign by 16.8% in the third quarter. FMR LLC now owns 2,192,885 shares of the company's stock worth $136,156,000 after acquiring an additional 315,073 shares during the last quarter. Townsquare Capital LLC increased its stake in DocuSign by 3.7% during the third quarter. Townsquare Capital LLC now owns 5,103 shares of the company's stock valued at $317,000 after acquiring an additional 183 shares during the period. Freedom Investment Management Inc. acquired a new position in shares of DocuSign in the third quarter valued at $201,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of DocuSign by 14.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,659,367 shares of the company's stock valued at $103,030,000 after acquiring an additional 208,813 shares in the last quarter. Institutional investors and hedge funds own 77.64% of the company's stock.

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Insider Activity at DocuSign

In related news, CFO Blake Jeffrey Grayson sold 8,000 shares of DocuSign stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $86.90, for a total transaction of $695,200.00. Following the sale, the chief financial officer now owns 77,851 shares of the company's stock, valued at approximately $6,765,251.90. This trade represents a 9.32 % 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, Director Teresa Briggs sold 534 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $87.41, for a total value of $46,676.94. Following the transaction, the director now directly owns 8,270 shares of the company's stock, valued at approximately $722,880.70. The trade was a 6.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 57,851 shares of company stock valued at $4,911,319 over the last 90 days. Corporate insiders own 1.66% of the company's stock.

DocuSign Stock Down 5.4 %

NASDAQ:DOCU traded down $4.22 during mid-day trading on Friday, hitting $73.15. 815,142 shares of the stock traded hands, compared to its average volume of 2,685,008. The business's 50-day moving average price is $86.41 and its 200 day moving average price is $81.88. The company has a market cap of $14.81 billion, a PE ratio of 15.10, a price-to-earnings-growth ratio of 6.94 and a beta of 1.20. DocuSign, Inc. has a 12-month low of $48.70 and a 12-month high of $107.86.

DocuSign (NASDAQ:DOCU - Get Free Report) last posted its earnings results 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. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The firm had revenue of $776.25 million for the quarter, compared to analysts' expectations of $760.94 million. During the same period in the previous year, the firm earned $0.76 earnings per share. The business's revenue was up 9.0% compared to the same quarter last year. Analysts anticipate that DocuSign, Inc. will post 1.17 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on DOCU. Wells Fargo & Company raised their price objective on shares of DocuSign from $70.00 to $73.00 and gave the stock an "underweight" rating in a report on Friday, March 14th. UBS Group cut their price objective on shares of DocuSign from $100.00 to $90.00 and set a "neutral" rating on the stock in a report on Friday, March 14th. Needham & Company LLC restated a "hold" rating on shares of DocuSign in a report on Friday, March 14th. Wedbush reissued a "neutral" rating and issued a $100.00 price target on shares of DocuSign in a report on Friday, March 14th. Finally, Jefferies Financial Group lowered their target price on DocuSign from $115.00 to $105.00 and set a "buy" rating for the company in a research note on Monday. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $95.83.

DocuSign 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.