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

Clearbridge Investments LLC cut its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU) by 3.2% during the fourth quarter, according to the company in 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 quarter. Clearbridge Investments LLC owned 1.33% of DocuSign worth $240,770,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DOCU. Schroder Investment Management Group boosted its holdings in DocuSign by 8.4% in the fourth quarter. Schroder Investment Management Group now owns 825,227 shares of the company’s stock valued at $75,673,000 after purchasing an additional 64,228 shares during the period. Arrowstreet Capital Limited Partnership raised its position 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 stake in DocuSign in the 4th quarter valued at about $1,862,000. Allstate Corp purchased a new position in shares of DocuSign in the 4th quarter valued at about $531,000. Finally, Horizon Investment Services LLC acquired a new position in shares of DocuSign during the fourth quarter worth about $479,000. Hedge funds and other institutional investors own 77.64% of the company’s stock.

DocuSign Price Performance

Shares of NASDAQ:DOCU 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 stock has a market cap of $16.84 billion, a P/E ratio of 17.15, a P/E/G ratio of 6.94 and a beta of 1.02. The firm has a fifty day moving average price of $87.18 and a 200 day moving average price of $81.54.

DocuSign (NASDAQ:DOCU) last announced its earnings results on Thursday, March 13th. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.02. The business had revenue of $776.25 million during the quarter, compared to the consensus estimate 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 quarter in the prior year, the firm earned $0.76 earnings per share. Sell-side analysts expect that DocuSign, Inc. will post 1.17 EPS for the current fiscal year.

Insider Activity

In related news, Director Peter Solvik sold 10,000 shares of DocuSign stock in a transaction on Friday, January 10th. The shares were sold at an average price of $91.26, for a total value of $912,600.00. Following the transaction, the director now directly owns 150,253 shares in the company, valued at $13,712,088.78. This trade represents a 6.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Teresa Briggs sold 534 shares of the company’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $87.41, for a total transaction of $46,676.94. Following the transaction, the director now owns 8,270 shares of the company’s stock, valued at approximately $722,880.70. The trade was a 6.07 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 97,851 shares of company stock valued at $8,579,369. Company insiders own 1.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on DOCU shares. Wedbush reiterated a “neutral” rating and issued a $100.00 price target on shares of DocuSign in a research note on Friday, March 14th. Citigroup lifted their price objective on shares of DocuSign from $113.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, March 14th. JPMorgan Chase & Co. raised DocuSign from an “underweight” rating to a “neutral” rating and increased their target price for the company from $70.00 to $75.00 in a report on Monday, March 10th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $90.00 price target on shares of DocuSign in a report on Friday, March 14th. Finally, Hsbc Global Res upgraded DocuSign to a “moderate sell” rating in a report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $95.00.

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.