Carnegie Capital Asset Management LLC Raises Stake in DocuSign, Inc. (NASDAQ:DOCU)

Carnegie Capital Asset Management LLC boosted its holdings in shares of DocuSign, Inc. (NASDAQ:DOCUGet Rating) by 246.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,950 shares of the company’s stock after buying an additional 4,944 shares during the quarter. Carnegie Capital Asset Management LLC’s holdings in DocuSign were worth $1,943,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. HM Payson & Co. boosted its stake in shares of DocuSign by 102.8% in the fourth quarter. HM Payson & Co. now owns 217 shares of the company’s stock worth $33,000 after buying an additional 110 shares during the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its stake in shares of DocuSign by 440.0% during the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 270 shares of the company’s stock worth $28,000 after purchasing an additional 220 shares during the period. Clearstead Advisors LLC increased its holdings in shares of DocuSign by 1,300.0% during the 4th quarter. Clearstead Advisors LLC now owns 280 shares of the company’s stock valued at $43,000 after purchasing an additional 260 shares in the last quarter. EverSource Wealth Advisors LLC purchased a new position in shares of DocuSign during the 4th quarter valued at approximately $47,000. Finally, WASHINGTON TRUST Co lifted its stake in shares of DocuSign by 125.0% in the 1st quarter. WASHINGTON TRUST Co now owns 360 shares of the company’s stock valued at $38,000 after purchasing an additional 200 shares during the period. 76.18% of the stock is currently owned by institutional investors and hedge funds.

DocuSign Stock Down 1.1 %

DOCU stock opened at $54.00 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.77. The firm has a 50-day moving average of $63.48 and a two-hundred day moving average of $75.52. DocuSign, Inc. has a 12 month low of $52.53 and a 12 month high of $288.50. The company has a market cap of $10.84 billion, a price-to-earnings ratio of -100.00 and a beta of 1.23.

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

Analysts Set New Price Targets

A number of research analysts have weighed in on DOCU shares. Wedbush lifted their price objective on shares of DocuSign from $50.00 to $55.00 and gave the company an “underperform” rating in a report on Friday, September 9th. Piper Sandler cut DocuSign from a “neutral” rating to an “underweight” rating and reduced their price target for the stock from $65.00 to $54.00 in a report on Wednesday, July 20th. 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. Royal Bank of Canada lowered DocuSign from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from $80.00 to $65.00 in a research report on Monday, August 22nd. Finally, William Blair cut shares of DocuSign from an “outperform” rating to a “market perform” rating in a research note on Friday, June 10th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, DocuSign currently has a consensus rating of “Hold” and an average price target of $65.15.

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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