Lazard Asset Management LLC Increases Stock Position in DocuSign, Inc. (NASDAQ:DOCU)

Lazard Asset Management LLC lifted its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU) by 15.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 185,853 shares of the company’s stock after acquiring an additional 25,038 shares during the period. Lazard Asset Management LLC’s holdings in DocuSign were worth $16,715,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Kestra Investment Management LLC purchased a new position in DocuSign in the 4th quarter valued at $30,000. First Horizon Advisors Inc. grew its position in DocuSign by 102.6% in the 4th quarter. First Horizon Advisors Inc. now owns 397 shares of the company’s stock valued at $36,000 after buying an additional 201 shares during the last quarter. Bessemer Group Inc. grew its position in DocuSign by 490.0% in the 4th quarter. Bessemer Group Inc. now owns 472 shares of the company’s stock valued at $42,000 after buying an additional 392 shares during the last quarter. Avion Wealth grew its position in DocuSign by 309.2% in the 4th quarter. Avion Wealth now owns 487 shares of the company’s stock valued at $43,000 after buying an additional 368 shares during the last quarter. Finally, Avior Wealth Management LLC grew its position in DocuSign by 36.5% in the 4th quarter. Avior Wealth Management LLC now owns 542 shares of the company’s stock valued at $49,000 after buying an additional 145 shares during the last quarter. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

DocuSign Stock Up 2.8%

NASDAQ:DOCU opened at $90.34 on Wednesday. The company has a market capitalization of $18.29 billion, a PE ratio of 18.63, a price-to-earnings-growth ratio of 6.94 and a beta of 1.21. DocuSign, Inc. has a 52-week low of $48.70 and a 52-week high of $107.86. The stock has a fifty day simple moving average of $80.47 and a 200-day simple moving average of $84.75.

DocuSign (NASDAQ:DOCU) last released its quarterly earnings results on Thursday, March 13th. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.02. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The business had revenue of $776.25 million during the quarter, compared to the consensus estimate of $760.94 million. During the same quarter in the previous year, the company posted $0.76 EPS. The business’s revenue was up 9.0% on a year-over-year basis. As a group, equities analysts anticipate that DocuSign, Inc. will post 1.17 earnings per share for the current year.

Wall Street Analyst Weigh In

DOCU has been the topic of a number of analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a research report on Thursday, April 17th. Wells Fargo & Company decreased their target price on shares of DocuSign from $73.00 to $65.00 and set an “underweight” rating on the stock in a research report on Tuesday, April 22nd. Bank of America decreased their target price on shares of DocuSign from $112.00 to $98.00 and set a “neutral” rating on the stock in a research report on Friday, March 14th. William Blair restated an “outperform” rating on shares of DocuSign in a research report on Monday, April 21st. Finally, Morgan Stanley decreased their target price on shares of DocuSign from $97.00 to $92.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 16th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $92.46.

Insider Activity at DocuSign

In related news, Director Teresa Briggs sold 534 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $87.41, for a total value of $46,676.94. Following the completion of the transaction, the director now owns 8,270 shares of the company’s stock, valued at approximately $722,880.70. The trade was a 6.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Blake Jeffrey Grayson sold 8,000 shares of the business’s stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $76.09, for a total transaction of $608,720.00. Following the completion of the transaction, the chief financial officer now directly owns 86,156 shares of the company’s stock, valued at $6,555,610.04. The trade was a 8.50% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 55,851 shares of company stock valued at $4,607,439. 1.66% of the stock is owned by insiders.

DocuSign Company Profile

DocuSign, Inc provides electronic signature solution in the United States and internationally. The company provides e-signature solution that enables sending and signing of agreements on various devices; Contract Lifecycle Management (CLM), which automates workflows across the entire agreement process; Document Generation streamlines the process of generating new, custom agreements; and Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce.