BlackRock Inc. Reduces Holdings in DocuSign, Inc. (NASDAQ:DOCU)

BlackRock Inc. trimmed its stake in DocuSign, Inc. (NASDAQ:DOCU) by 9.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,240,134 shares of the company’s stock after selling 1,176,518 shares during the period. BlackRock Inc. owned approximately 0.06% of DocuSign worth $3,142,402,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Morgan Stanley grew its position in DocuSign by 45.1% during the 1st quarter. Morgan Stanley now owns 4,719,844 shares of the company’s stock worth $955,533,000 after purchasing an additional 1,467,310 shares during the last quarter. ARK Investment Management LLC boosted its holdings in shares of DocuSign by 46.7% in the first quarter. ARK Investment Management LLC now owns 3,197,720 shares of the company’s stock valued at $647,378,000 after acquiring an additional 1,017,699 shares in the last quarter. Clearbridge Investments LLC boosted its holdings in shares of DocuSign by 168.3% in the first quarter. Clearbridge Investments LLC now owns 1,586,039 shares of the company’s stock valued at $321,094,000 after acquiring an additional 994,969 shares in the last quarter. Nuveen Asset Management LLC boosted its holdings in shares of DocuSign by 27.8% in the first quarter. Nuveen Asset Management LLC now owns 1,752,470 shares of the company’s stock valued at $354,787,000 after acquiring an additional 380,725 shares in the last quarter. Finally, Scge Management L.P. boosted its holdings in shares of DocuSign by 20.1% in the first quarter. Scge Management L.P. now owns 1,255,000 shares of the company’s stock valued at $254,075,000 after acquiring an additional 210,000 shares in the last quarter. 75.67% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts have recently weighed in on the stock. JMP Securities lifted their target price on shares of DocuSign from $310.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, September 3rd. Citigroup reiterated a “buy” rating and issued a $389.00 price objective (up previously from $386.00) on shares of DocuSign in a research note on Friday, September 3rd. UBS Group raised their price objective on shares of DocuSign from $340.00 to $350.00 and gave the company a “buy” rating in a research note on Friday, September 3rd. Needham & Company LLC raised their price objective on shares of DocuSign from $275.00 to $340.00 and gave the company a “buy” rating in a research note on Friday, September 3rd. Finally, Robert W. Baird lifted their target price on shares of DocuSign from $320.00 to $330.00 and gave the stock an “outperform” rating in a research report on Friday, September 3rd. Four analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, DocuSign presently has an average rating of “Buy” and a consensus price target of $309.20.

In other DocuSign news, COO Scott V. Olrich sold 12,500 shares of the business’s stock in a transaction dated Tuesday, July 13th. The stock was sold at an average price of $285.61, for a total value of $3,570,125.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Enrique T. Salem sold 10,000 shares of DocuSign stock in a transaction that occurred on Thursday, July 1st. The shares were sold at an average price of $277.40, for a total transaction of $2,774,000.00. The disclosure for this sale can be found here. Insiders have sold 92,931 shares of company stock worth $27,725,426 over the last ninety days. 3.87% of the stock is owned by insiders.

DOCU opened at $271.16 on Wednesday. DocuSign, Inc. has a 12 month low of $179.49 and a 12 month high of $314.76. The stock has a market cap of $53.34 billion, a P/E ratio of -315.30 and a beta of 0.84. The stock’s 50 day moving average price is $292.20 and its 200 day moving average price is $249.21. The company has a debt-to-equity ratio of 3.45, a current ratio of 0.98 and a quick ratio of 0.98.

DocuSign (NASDAQ:DOCU) last issued its quarterly earnings results on Wednesday, September 1st. The company reported $0.47 earnings per share (EPS) 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 company had revenue of $511.84 million for the quarter, compared to analysts’ expectations of $487.99 million. During the same period last year, the firm earned $0.17 EPS. The firm’s revenue for the quarter was up 49.6% on a year-over-year basis. Equities analysts anticipate that DocuSign, Inc. will post -0.01 EPS for the current year.

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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