Lazard Asset Management LLC Has $6.01 Million Position in Docusign Inc. $DOCU

Key Points

• Lazard Asset Management reduced its DocuSign stake by 33.7% in the first quarter, selling 64,328 shares and retaining 126,819 shares valued at approximately $6.01 million. Institutional investors collectively own 77.64% of the company.
• DocuSign insiders sold 76,695 shares worth about $3.48 million during the past quarter, including CFO and CRO sales conducted under pre-arranged Rule 10b5-1 plans.
• DocuSign exceeded quarterly earnings and revenue expectations, reporting EPS of $1.09 versus $0.99 expected and revenue of $830.24 million. Analysts maintain an overall “Hold” rating, with an average price target of $60.27.

Lazard Asset Management LLC cut its holdings in Docusign Inc. (NASDAQ:DOCU - Free Report) by 33.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 126,819 shares of the company's stock after selling 64,328 shares during the quarter. Lazard Asset Management LLC owned about 0.07% of Docusign worth $6,012,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of DOCU. Norges Bank acquired a new stake in shares of Docusign in the 4th quarter valued at $186,795,000. Arrowstreet Capital Limited Partnership lifted its position in shares of Docusign by 76.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 5,285,128 shares of the company's stock worth $250,568,000 after purchasing an additional 2,283,996 shares during the last quarter. Capital World Investors lifted its holdings in shares of Docusign by 38.1% during the fourth quarter. Capital World Investors now owns 5,815,804 shares of the company's stock worth $397,801,000 after buying an additional 1,603,900 shares during the last quarter. SG Americas Securities LLC boosted its holdings in Docusign by 452.3% in the 1st quarter. SG Americas Securities LLC now owns 1,314,632 shares of the company's stock valued at $62,327,000 after purchasing an additional 1,076,622 shares during the period. Finally, Woodline Partners LP grew its position in Docusign by 24,412.7% during the third quarter. Woodline Partners LP now owns 958,938 shares of the company's stock worth $69,130,000 after buying an additional 955,026 shares in the last quarter. Institutional investors and hedge funds own 77.64% of the company's stock.

Insider Activity at Docusign

In other news, CFO Blake Jeffrey Grayson sold 15,000 shares of Docusign stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $45.55, for a total transaction of $683,250.00. Following the transaction, the chief financial officer directly owned 141,429 shares of the company's stock, valued at $6,442,090.95. This trade represents a 9.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Paula Hansen sold 6,000 shares of Docusign stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $45.54, for a total value of $273,240.00. Following the transaction, the executive owned 89,972 shares in the company, valued at approximately $4,097,324.88. This represents a 6.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 76,695 shares of company stock valued at $3,476,002. 0.59% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Wall Street Zen upgraded Docusign from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 25th. BTIG Research cut their price target on shares of Docusign from $70.00 to $60.00 and set a "buy" rating for the company in a research note on Friday, June 5th. Weiss Ratings upgraded Docusign from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, July 14th. Needham & Company LLC restated a "hold" rating on shares of Docusign in a research note on Friday, June 5th. Finally, Jefferies Financial Group upped their price objective on shares of Docusign from $45.00 to $50.00 and gave the stock a "hold" rating in a research note on Friday, June 5th. Three investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Docusign presently has an average rating of "Hold" and an average target price of $60.27.

Docusign Stock Performance

NASDAQ DOCU opened at $54.29 on Friday. The stock has a market capitalization of $10.37 billion, a P/E ratio of 35.25, a price-to-earnings-growth ratio of 1.71 and a beta of 0.90. Docusign Inc. has a 52 week low of $40.16 and a 52 week high of $86.65. The stock has a fifty day moving average of $48.31 and a 200-day moving average of $48.41.

Docusign (NASDAQ:DOCU - Get Free Report) last released its earnings results on Thursday, June 4th. The company reported $1.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.99 by $0.10. The company had revenue of $830.24 million for the quarter, compared to the consensus estimate of $824.71 million. Docusign had a net margin of 9.59% and a return on equity of 17.48%. The company's revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.90 EPS. Equities research analysts forecast that Docusign Inc. will post 2.03 earnings per share for the current fiscal year.

Docusign Company Profile

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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