Docusign Inc. $DOCU Shares Purchased by Neuberger Berman Group LLC

Key Points

• Neuberger Berman increased its stake in DocuSign by 145.5% in Q3, adding 74,658 shares to hold 125,952 shares (about 0.06% of the company) worth roughly $9.08 million.
• Analyst sentiment is cautious with a consensus rating of "Hold" and a $78.80 consensus price target, after multiple firms reduced price targets and downgraded the stock (notably Jefferies cut its target to $45 and moved to Hold).
• Company insiders have been net sellers, disposing of 77,476 shares valued at about $5.3 million in the last 90 days — including CEO Allan C. Thygesen and Robert Chatwani — leaving insiders with roughly 1.01% ownership.

Neuberger Berman Group LLC grew its position in shares of Docusign Inc. (NASDAQ:DOCU - Free Report) by 145.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 125,952 shares of the company's stock after acquiring an additional 74,658 shares during the quarter. Neuberger Berman Group LLC owned about 0.06% of Docusign worth $9,080,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Nordea Investment Management AB boosted its position in Docusign by 3.6% during the 3rd quarter. Nordea Investment Management AB now owns 1,154,824 shares of the company's stock worth $87,316,000 after acquiring an additional 40,432 shares during the period. Baird Financial Group Inc. lifted its holdings in Docusign by 927.2% in the second quarter. Baird Financial Group Inc. now owns 124,145 shares of the company's stock worth $9,670,000 after purchasing an additional 112,059 shares during the period. Rakuten Investment Management Inc. bought a new position in Docusign in the 3rd quarter valued at about $5,335,000. Bank of New York Mellon Corp increased its stake in Docusign by 3.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,594,884 shares of the company's stock valued at $114,975,000 after buying an additional 47,331 shares during the period. Finally, Vise Technologies Inc. acquired a new position in Docusign during the 2nd quarter valued at about $436,000. Institutional investors own 77.64% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on DOCU. Bank of America decreased their price objective on shares of Docusign from $102.00 to $82.00 and set a "neutral" rating for the company in a report on Friday, December 5th. Weiss Ratings reiterated a "hold (c)" rating on shares of Docusign in a research report on Wednesday, January 21st. Jefferies Financial Group lowered Docusign from a "buy" rating to a "hold" rating and cut their price objective for the company from $105.00 to $45.00 in a report on Monday, February 23rd. JPMorgan Chase & Co. lowered their target price on Docusign from $80.00 to $78.00 and set a "neutral" rating on the stock in a report on Friday, December 5th. Finally, Wells Fargo & Company reduced their price objective on shares of Docusign from $85.00 to $75.00 and set an "equal weight" rating for the company in a research report on Friday, December 5th. Five analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the stock. According to data from MarketBeat, Docusign currently has a consensus rating of "Hold" and a consensus price target of $78.80.

Insider Buying and Selling at Docusign

In other news, insider Robert Chatwani sold 13,818 shares of the company's stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $68.33, for a total value of $944,183.94. Following the transaction, the insider owned 70,197 shares in the company, valued at $4,796,561.01. This represents a 16.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Allan C. Thygesen sold 26,250 shares of the firm's stock in a transaction that occurred on Friday, January 9th. The stock was sold at an average price of $69.60, for a total transaction of $1,827,000.00. Following the sale, the chief executive officer owned 142,261 shares of the company's stock, valued at approximately $9,901,365.60. This represents a 15.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 77,476 shares of company stock valued at $5,302,678 in the last ninety days. Company insiders own 1.01% of the company's stock.

Docusign Stock Performance

NASDAQ DOCU opened at $48.69 on Friday. The firm's 50 day moving average price is $53.84 and its two-hundred day moving average price is $65.81. Docusign Inc. has a twelve month low of $40.16 and a twelve month high of $94.67. The stock has a market cap of $9.75 billion, a price-to-earnings ratio of 34.05, a PEG ratio of 2.12 and a beta of 1.03.

About Docusign

DocuSign, Inc NASDAQ: DOCU is a leading provider of electronic signature and digital transaction management solutions. The company's flagship offering, DocuSign eSignature, enables organizations to send, sign and manage legally binding electronic agreements securely in the cloud. Beyond eSignature, DocuSign's Agreement Cloud combines contract lifecycle management, document generation, and workflow automation to streamline agreement processes from initiation through execution and storage.

DocuSign's platform serves a diverse customer base spanning industries such as finance, real estate, healthcare, technology, and government.

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