Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of DocuSign, Inc. (NASDAQ:DOCU – Get Rating) by 9.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 106,466 shares of the company’s stock after buying an additional 9,585 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.05% of DocuSign worth $6,109,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Swiss National Bank grew its stake in DocuSign by 0.7% during the 2nd quarter. Swiss National Bank now owns 858,309 shares of the company’s stock worth $49,250,000 after buying an additional 6,300 shares during the last quarter. Ceera Investments LLC grew its stake in shares of DocuSign by 43.1% in the second quarter. Ceera Investments LLC now owns 36,350 shares of the company’s stock worth $2,086,000 after purchasing an additional 10,948 shares in the last quarter. Kingsbury Capital Investment Advisors LLC grew its stake in shares of DocuSign by 10.1% in the second quarter. Kingsbury Capital Investment Advisors LLC now owns 3,552 shares of the company’s stock worth $204,000 after purchasing an additional 325 shares in the last quarter. Shell Asset Management Co. grew its stake in shares of DocuSign by 6.2% in the second quarter. Shell Asset Management Co. now owns 14,246 shares of the company’s stock worth $817,000 after purchasing an additional 827 shares in the last quarter. Finally, Duality Advisers LP bought a new position in shares of DocuSign in the second quarter worth $1,578,000. 76.18% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several research firms have recently issued reports on DOCU. Citigroup decreased their price target on DocuSign from $90.00 to $68.00 and set a “buy” rating for the company in a research note on Thursday, September 8th. JPMorgan Chase & Co. raised DocuSign from an “underweight” rating to a “neutral” rating and set a $65.00 price target for the company in a research note on Friday, September 9th. Moffett Nathanson initiated coverage on DocuSign in a research note on Thursday, September 22nd. They issued an “underperform” rating and a $58.00 price target for the company. Royal Bank of Canada cut their price objective on DocuSign from $65.00 to $55.00 in a report on Thursday, September 29th. Finally, TheStreet lowered DocuSign from a “c-” rating to a “d+” rating in a report on Wednesday, November 9th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, DocuSign currently has a consensus rating of “Hold” and an average price target of $62.38.
DocuSign Trading Down 3.0 %
DocuSign (NASDAQ:DOCU – Get Rating) last posted its quarterly earnings results on Thursday, September 8th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.09). The business had revenue of $622.18 million for the quarter, compared to analyst estimates of $602.25 million. DocuSign had a negative net margin of 4.65% and a negative return on equity of 21.74%. The firm’s quarterly revenue was up 21.6% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.07) earnings per share. Sell-side analysts predict that DocuSign, Inc. will post -0.43 EPS for the current 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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