Orion Portfolio Solutions LLC Reduces Position in DocuSign, Inc. (NASDAQ:DOCU)

Orion Portfolio Solutions LLC reduced its stake in shares of DocuSign, Inc. (NASDAQ:DOCUGet Rating) by 4.1% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 30,973 shares of the company’s stock after selling 1,332 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in DocuSign were worth $1,777,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. raised its position in DocuSign by 20.3% during the 1st quarter. Vanguard Group Inc. now owns 17,308,877 shares of the company’s stock worth $1,854,127,000 after buying an additional 2,917,683 shares during the last quarter. BlackRock Inc. raised its holdings in shares of DocuSign by 2.8% during the fourth quarter. BlackRock Inc. now owns 11,588,144 shares of the company’s stock worth $1,764,991,000 after purchasing an additional 313,959 shares during the last quarter. Capital World Investors lifted its position in DocuSign by 128.3% during the first quarter. Capital World Investors now owns 5,683,838 shares of the company’s stock valued at $608,853,000 after purchasing an additional 3,193,727 shares during the period. Polen Capital Management LLC boosted its holdings in DocuSign by 48.5% in the first quarter. Polen Capital Management LLC now owns 5,551,792 shares of the company’s stock valued at $594,708,000 after purchasing an additional 1,813,284 shares during the last quarter. Finally, Fisher Asset Management LLC grew its position in DocuSign by 51.9% during the 1st quarter. Fisher Asset Management LLC now owns 4,637,015 shares of the company’s stock worth $496,717,000 after purchasing an additional 1,584,989 shares during the period. 76.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Piper Sandler downgraded DocuSign from a “neutral” rating to an “underweight” rating and lowered their target price for the stock from $65.00 to $54.00 in a research note on Wednesday, July 20th. JMP Securities cut their target price on shares of DocuSign from $151.00 to $84.00 and set a “market outperform” rating for the company in a report on Friday, September 2nd. UBS Group lowered their price target on shares of DocuSign from $70.00 to $65.00 and set a “neutral” rating on the stock in a report on Tuesday, August 30th. Royal Bank of Canada cut shares of DocuSign from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from $80.00 to $65.00 in a report on Monday, August 22nd. Finally, Bank of America lowered shares of DocuSign from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $120.00 to $72.00 in a research note on Friday, June 10th. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $65.15.

DocuSign Trading Down 1.1 %

Shares of DOCU opened at $54.00 on Friday. DocuSign, Inc. has a 52-week low of $52.53 and a 52-week high of $288.50. The stock has a market cap of $10.84 billion, a PE ratio of -100.00 and a beta of 1.23. The firm’s fifty day moving average is $63.48 and its two-hundred day moving average is $75.52. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.77.

DocuSign (NASDAQ:DOCUGet Rating) last announced its quarterly earnings data on Thursday, September 8th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.02. DocuSign had a negative net margin of 4.65% and a negative return on equity of 21.74%. The company had revenue of $622.18 million during the quarter, compared to analysts’ expectations of $602.25 million. During the same quarter in the prior year, the company earned ($0.07) EPS. DocuSign’s revenue was up 21.6% compared to the same quarter last year. Research analysts forecast that DocuSign, Inc. will post -0.45 earnings per share for the current fiscal year.

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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Institutional Ownership by Quarter for DocuSign (NASDAQ:DOCU)

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