Los Angeles Capital Management LLC Reduces Position in DocuSign, Inc. (NASDAQ:DOCU)

Los Angeles Capital Management LLC decreased its holdings in shares of DocuSign, Inc. (NASDAQ:DOCUFree Report) by 8.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 505,395 shares of the company’s stock after selling 46,331 shares during the quarter. Los Angeles Capital Management LLC’s holdings in DocuSign were worth $30,096,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of DocuSign by 2.0% during 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 during the last quarter. Coatue Management LLC acquired a new stake in shares of DocuSign during the fourth quarter worth $288,274,000. Clearbridge Investments LLC boosted its holdings in shares of DocuSign by 4.6% during the fourth quarter. Clearbridge Investments LLC now owns 2,643,464 shares of the company’s stock worth $157,154,000 after purchasing an additional 116,128 shares during the last quarter. Norges Bank acquired a new stake in shares of DocuSign during the fourth quarter worth $133,826,000. Finally, AQR Capital Management LLC boosted its holdings in shares of DocuSign by 147.4% during the third quarter. AQR Capital Management LLC now owns 1,908,500 shares of the company’s stock worth $80,157,000 after purchasing an additional 1,136,948 shares during the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.

DocuSign Trading Down 0.1 %

DocuSign stock traded down $0.06 during midday trading on Wednesday, hitting $50.97. The stock had a trading volume of 1,975,568 shares, compared to its average volume of 3,205,512. The business has a fifty day moving average price of $56.57 and a 200 day moving average price of $56.67. DocuSign, Inc. has a 12 month low of $38.11 and a 12 month high of $64.76. The stock has a market cap of $10.43 billion, a P/E ratio of 98.02, a P/E/G ratio of 4.27 and a beta of 0.89.

Analyst Ratings Changes

A number of brokerages recently weighed in on DOCU. Piper Sandler reduced their target price on DocuSign from $65.00 to $60.00 and set a “neutral” rating on the stock in a report on Friday, June 7th. Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a research report on Friday, June 7th. Citigroup dropped their target price on DocuSign from $93.00 to $86.00 and set a “buy” rating on the stock in a research report on Wednesday, June 5th. JMP Securities reaffirmed a “market outperform” rating and set a $84.00 target price on shares of DocuSign in a research report on Friday, June 7th. Finally, Robert W. Baird dropped their target price on DocuSign from $65.00 to $55.00 and set a “neutral” rating on the stock in a research report on Friday, June 7th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, DocuSign has an average rating of “Hold” and a consensus target price of $59.36.

Read Our Latest Research Report on DocuSign

Insider Buying and Selling at DocuSign

In other DocuSign news, insider James P. Shaughnessy sold 1,800 shares of DocuSign stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $50.98, for a total value of $91,764.00. Following the completion of the transaction, the insider now directly owns 35,703 shares in the company, valued at $1,820,138.94. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider James P. Shaughnessy sold 1,800 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $50.98, for a total transaction of $91,764.00. Following the completion of the transaction, the insider now directly owns 35,703 shares in the company, valued at $1,820,138.94. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Peter Solvik sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $60.00, for a total value of $900,000.00. Following the transaction, the director now owns 783 shares of the company’s stock, valued at $46,980. The disclosure for this sale can be found here. Insiders sold a total of 27,185 shares of company stock worth $1,576,779 over the last ninety days. Company insiders own 1.66% of the company’s stock.

DocuSign Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding DOCU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for DocuSign, Inc. (NASDAQ:DOCUFree Report).

Institutional Ownership by Quarter for DocuSign (NASDAQ:DOCU)

Receive News & Ratings for DocuSign Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DocuSign and related companies with MarketBeat.com's FREE daily email newsletter.