Neuberger Berman Group LLC Raises Stake in DocuSign, Inc. (NASDAQ:DOCU)

Neuberger Berman Group LLC boosted its position in DocuSign, Inc. (NASDAQ:DOCU) by 0.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 505,645 shares of the company’s stock after buying an additional 2,434 shares during the quarter. Neuberger Berman Group LLC owned approximately 0.26% of DocuSign worth $140,310,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Amundi Pioneer Asset Management Inc. boosted its stake in shares of DocuSign by 19.7% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 375,624 shares of the company’s stock valued at $19,473,000 after purchasing an additional 61,824 shares during the period. Principal Financial Group Inc. boosted its stake in shares of DocuSign by 1.3% during the first quarter. Principal Financial Group Inc. now owns 22,057 shares of the company’s stock valued at $4,465,000 after purchasing an additional 293 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of DocuSign by 5.3% during the first quarter. Russell Investments Group Ltd. now owns 33,341 shares of the company’s stock valued at $6,737,000 after purchasing an additional 1,687 shares during the period. Mercer Global Advisors Inc. ADV boosted its stake in shares of DocuSign by 5.8% during the first quarter. Mercer Global Advisors Inc. ADV now owns 1,703 shares of the company’s stock valued at $345,000 after purchasing an additional 93 shares during the period. Finally, Brinker Capital Investments LLC purchased a new stake in shares of DocuSign during the first quarter valued at approximately $437,000. 75.67% of the stock is owned by institutional investors and hedge funds.

DOCU has been the subject of a number of analyst reports. Wedbush increased their price objective on DocuSign from $290.00 to $340.00 and gave the company an “outperform” rating in a research note on Monday, August 30th. Evercore ISI increased their price objective on DocuSign from $285.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, September 3rd. UBS Group raised their price target on DocuSign from $340.00 to $350.00 and gave the stock a “buy” rating in a research note on Friday, September 3rd. Wolfe Research reaffirmed a “buy” rating and issued a $340.00 price target on shares of DocuSign in a research note on Friday, September 3rd. Finally, JMP Securities raised their price target on DocuSign from $310.00 to $320.00 and gave the stock an “outperform” rating in a research note on Friday, September 3rd. Four investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $309.20.

DOCU opened at $259.31 on Thursday. The stock has a fifty day simple moving average of $281.92 and a two-hundred day simple moving average of $254.88. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 3.45. The company has a market cap of $51.01 billion, a price-to-earnings ratio of -301.52 and a beta of 0.92. DocuSign, Inc. has a 12-month low of $179.49 and a 12-month high of $314.76.

DocuSign (NASDAQ:DOCU) last issued its quarterly earnings results on Wednesday, September 1st. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.07. DocuSign had a negative return on equity of 23.08% and a negative net margin of 9.18%. The firm had revenue of $511.84 million during the quarter, compared to the consensus estimate of $487.99 million. During the same period last year, the company earned $0.17 earnings per share. The company’s revenue was up 49.6% on a year-over-year basis. On average, analysts predict that DocuSign, Inc. will post -0.01 EPS for the current year.

In related news, Director Peter Solvik sold 8,750 shares of DocuSign stock in a transaction dated Thursday, October 7th. The stock was sold at an average price of $266.91, for a total value of $2,335,462.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Loren Alhadeff sold 51,544 shares of DocuSign stock in a transaction dated Monday, July 26th. The stock was sold at an average price of $306.22, for a total value of $15,783,803.68. Following the completion of the sale, the executive now owns 193,131 shares of the company’s stock, valued at $59,140,574.82. The disclosure for this sale can be found here. Insiders have sold 91,681 shares of company stock valued at $26,898,263 over the last 90 days. Corporate insiders own 3.87% of the company’s stock.

DocuSign Company Profile

DocuSign, Inc provides cloud-based electronic signature solutions. Its cloud based electronic signature platform helps companies and individuals securely collect information, automate data workflows and sign anything. The firm automates manual, paper-based processes allowing users to manage all aspects of documented business transactions include identity management, authentication, digital signature, forms and data collection, collaboration, workflow automation and storage.

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Institutional Ownership by Quarter for DocuSign (NASDAQ:DOCU)

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