RMB Capital Management LLC increased its holdings in DocuSign, Inc. (NASDAQ:DOCU – Get Rating) by 39.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,329 shares of the company’s stock after buying an additional 5,175 shares during the quarter. RMB Capital Management LLC’s holdings in DocuSign were worth $1,963,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Fisher Asset Management LLC bought a new position in DocuSign during the 4th quarter valued at $464,854,000. Norges Bank bought a new position in DocuSign during the 4th quarter valued at $253,934,000. Nikko Asset Management Americas Inc. boosted its stake in DocuSign by 46.7% during the 4th quarter. Nikko Asset Management Americas Inc. now owns 2,511,332 shares of the company’s stock valued at $383,606,000 after purchasing an additional 799,464 shares in the last quarter. Bank of Montreal Can boosted its stake in DocuSign by 644.3% during the 4th quarter. Bank of Montreal Can now owns 704,314 shares of the company’s stock valued at $109,353,000 after purchasing an additional 609,680 shares in the last quarter. Finally, TD Asset Management Inc. boosted its stake in DocuSign by 86.0% during the 4th quarter. TD Asset Management Inc. now owns 761,948 shares of the company’s stock valued at $116,052,000 after purchasing an additional 352,370 shares in the last quarter. 75.62% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of brokerages have issued reports on DOCU. JMP Securities decreased their price target on DocuSign from $180.00 to $151.00 and set a “market outperform” rating for the company in a research note on Friday, June 10th. Wolfe Research lowered DocuSign from a “market perform” rating to an “underperform” rating and set a $50.00 price target for the company. in a research note on Monday, June 13th. Piper Sandler lowered DocuSign from a “neutral” rating to an “underweight” rating and decreased their price target for the company from $65.00 to $54.00 in a research note on Wednesday, July 20th. William Blair downgraded DocuSign from an “outperform” rating to a “market perform” rating in a research report on Friday, June 10th. Finally, Morgan Stanley cut their price objective on DocuSign from $80.00 to $73.00 and set an “equal weight” rating for the company in a research report on Friday, June 10th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, DocuSign has an average rating of “Hold” and an average price target of $131.20.
DocuSign Trading Up 1.6 %
DocuSign (NASDAQ:DOCU – Get Rating) last released its earnings results on Thursday, June 9th. The company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.08). DocuSign had a negative net margin of 4.00% and a negative return on equity of 17.17%. The business had revenue of $588.69 million for the quarter, compared to analysts’ expectations of $581.85 million. During the same period last year, the firm earned ($0.03) EPS. The company’s revenue was up 25.5% compared to the same quarter last year. As a group, equities research analysts forecast that DocuSign, Inc. will post -0.48 earnings per share for the current fiscal year.
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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