Clark Capital Management Group Inc. Has $61.02 Million Position in DocuSign, Inc. (NASDAQ:DOCU)

Clark Capital Management Group Inc. increased its stake in DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 52.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 678,466 shares of the company's stock after buying an additional 233,911 shares during the period. Clark Capital Management Group Inc. owned 0.34% of DocuSign worth $61,021,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Rhumbline Advisers boosted its holdings in shares of DocuSign by 118.8% in the fourth quarter. Rhumbline Advisers now owns 608,123 shares of the company's stock valued at $54,695,000 after purchasing an additional 330,136 shares during the period. KBC Group NV grew its position in shares of DocuSign by 32.7% during the 4th quarter. KBC Group NV now owns 1,535,107 shares of the company's stock worth $138,067,000 after buying an additional 378,233 shares in the last quarter. Jennison Associates LLC purchased a new position in shares of DocuSign during the fourth quarter valued at $12,897,000. Principal Financial Group Inc. increased its stake in shares of DocuSign by 3,026.7% during the fourth quarter. Principal Financial Group Inc. now owns 546,796 shares of the company's stock valued at $49,179,000 after buying an additional 529,308 shares during the period. Finally, Amundi raised its holdings in shares of DocuSign by 565.8% in the fourth quarter. Amundi now owns 1,379,575 shares of the company's stock valued at $123,486,000 after acquiring an additional 1,172,368 shares in the last quarter. Institutional investors own 77.64% of the company's stock.

Insider Buying and Selling

In related news, CFO Blake Jeffrey Grayson sold 8,000 shares of DocuSign stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $86.90, for a total value of $695,200.00. Following the sale, the chief financial officer now directly owns 77,851 shares in the company, valued at $6,765,251.90. This trade represents a 9.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Teresa Briggs sold 534 shares of the business's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $87.41, for a total value of $46,676.94. Following the transaction, the director now owns 8,270 shares of the company's stock, valued at $722,880.70. This trade represents a 6.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 55,851 shares of company stock valued at $4,607,439 in the last quarter. Company insiders own 1.01% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Robert W. Baird set a $93.00 target price on shares of DocuSign in a research report on Friday, March 14th. William Blair reissued an "outperform" rating on shares of DocuSign in a research note on Monday, April 21st. Wells Fargo & Company dropped their target price on DocuSign from $73.00 to $65.00 and set an "underweight" rating on the stock in a research report on Tuesday, April 22nd. JMP Securities reissued a "market outperform" rating and issued a $124.00 price target on shares of DocuSign in a research report on Thursday, April 17th. Finally, Jefferies Financial Group dropped their price objective on DocuSign from $115.00 to $105.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, DocuSign presently has a consensus rating of "Hold" and a consensus price target of $92.46.

DocuSign Stock Performance

DOCU traded down $0.85 on Friday, hitting $83.29. 860,718 shares of the company were exchanged, compared to its average volume of 2,752,274. The business's fifty day moving average is $80.15 and its 200 day moving average is $84.38. The firm has a market capitalization of $16.87 billion, a P/E ratio of 17.17, a price-to-earnings-growth ratio of 6.94 and a beta of 1.21. DocuSign, Inc. has a fifty-two week low of $48.70 and a fifty-two week high of $107.86.

DocuSign (NASDAQ:DOCU - Get Free Report) last announced its earnings results on Thursday, March 13th. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.02. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. The firm had revenue of $776.25 million during the quarter, compared to the consensus estimate of $760.94 million. During the same quarter in the previous year, the company posted $0.76 EPS. The firm's revenue for the quarter was up 9.0% on a year-over-year basis. Analysts forecast that DocuSign, Inc. will post 1.17 EPS for the current fiscal year.

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.