DocuSign, Inc. (NASDAQ:DOCU) Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lifted its stake in shares of DocuSign, Inc. (NASDAQ:DOCU – Get Rating) by 36.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 239,923 shares of the company’s stock after buying an additional 63,905 shares during the period. Envestnet Asset Management Inc. owned approximately 0.12% of DocuSign worth $25,701,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Lakeside Advisors INC. acquired a new position in DocuSign during the first quarter valued at $327,000. abrdn plc lifted its position in DocuSign by 2.2% during the first quarter. abrdn plc now owns 22,571 shares of the company’s stock valued at $2,444,000 after purchasing an additional 496 shares during the period. Arizona State Retirement System lifted its position in DocuSign by 1.2% during the first quarter. Arizona State Retirement System now owns 53,979 shares of the company’s stock valued at $5,782,000 after purchasing an additional 617 shares during the period. Lyell Wealth Management LP lifted its position in DocuSign by 6.4% during the first quarter. Lyell Wealth Management LP now owns 46,511 shares of the company’s stock valued at $4,982,000 after purchasing an additional 2,807 shares during the period. Finally, Edge Capital Group LLC acquired a new position in DocuSign during the first quarter valued at $294,000. 75.62% of the stock is currently owned by institutional investors and hedge funds.

DocuSign Stock Performance

DOCU opened at $65.51 on Tuesday. The firm has a market capitalization of $13.10 billion, a PE ratio of -145.57 and a beta of 1.21. DocuSign, Inc. has a twelve month low of $55.86 and a twelve month high of $314.76. The firm’s 50-day moving average price is $68.34 and its 200 day moving average price is $89.50. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 2.06.

DocuSign (NASDAQ:DOCU – Get Rating) last posted its quarterly earnings results on Thursday, June 9th. The company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.08). The business had revenue of $588.69 million for the quarter, compared to analyst estimates of $581.85 million. DocuSign had a negative return on equity of 17.17% and a negative net margin of 4.00%. The business’s revenue was up 25.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.03) earnings per share. As a group, sell-side analysts expect that DocuSign, Inc. will post -0.48 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Wells Fargo & Company decreased their target price on shares of DocuSign from $80.00 to $63.00 and set an “equal weight” rating for the company in a research report on Friday, June 10th. Piper Sandler cut shares of DocuSign from a “neutral” rating to an “underweight” rating and cut their price objective for the company from $65.00 to $54.00 in a report on Wednesday, July 20th. William Blair cut shares of DocuSign from an “outperform” rating to a “market perform” rating in a report on Friday, June 10th. Bank of America cut shares of DocuSign from a “buy” rating to a “neutral” rating and cut their price objective for the company from $120.00 to $72.00 in a report on Friday, June 10th. Finally, Wolfe Research cut shares of DocuSign from a “market perform” rating to an “underperform” rating and set a $50.00 price objective for the company. in a report on Monday, June 13th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $131.20.

About DocuSign

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DocuSign, Inc provides electronic signature software in the United States and internationally. The company provides e-signature solution that enables businesses to digitally prepare, sign, act on, and manage agreements. It also offers CLM, which automates workflows across the entire agreement process; Insights that use artificial intelligence (AI) to search and analyze agreements by legal concepts and clauses; Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce; Negotiate for Salesforce that supports for approvals, document comparisons, and version control; Analyzer, which helps customers understand what they're signing before they sign it; and CLM+ that provide AI-driven contract lifecycle management.

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