Orion Porfolio Solutions LLC Increases Stock Position in Docusign Inc. $DOCU

Orion Porfolio Solutions LLC lifted its stake in Docusign Inc. (NASDAQ:DOCU) by 50.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,832 shares of the company’s stock after acquiring an additional 8,031 shares during the quarter. Orion Porfolio Solutions LLC’s holdings in Docusign were worth $1,856,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DOCU. State Street Corp grew its position in Docusign by 3.0% in the 2nd quarter. State Street Corp now owns 8,074,976 shares of the company’s stock worth $628,960,000 after purchasing an additional 236,494 shares during the period. American Century Companies Inc. grew its holdings in shares of Docusign by 1.6% in the second quarter. American Century Companies Inc. now owns 5,564,318 shares of the company’s stock worth $433,405,000 after acquiring an additional 86,560 shares during the period. Geode Capital Management LLC increased its position in Docusign by 1.5% during the second quarter. Geode Capital Management LLC now owns 3,985,808 shares of the company’s stock valued at $309,910,000 after acquiring an additional 59,941 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Docusign by 18.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,028,505 shares of the company’s stock valued at $165,120,000 after acquiring an additional 318,698 shares during the period. Finally, Norges Bank purchased a new position in Docusign in the second quarter worth about $140,987,000. Institutional investors own 77.64% of the company’s stock.

Insiders Place Their Bets

In other news, CRO Paula Hansen sold 6,000 shares of Docusign stock in a transaction that occurred on Tuesday, October 7th. The shares were sold at an average price of $71.33, for a total transaction of $427,980.00. Following the sale, the executive owned 58,968 shares in the company, valued at $4,206,187.44. This trade represents a 9.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Allan C. Thygesen sold 40,000 shares of the company’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $69.69, for a total transaction of $2,787,600.00. Following the transaction, the chief executive officer owned 136,246 shares of the company’s stock, valued at approximately $9,494,983.74. This represents a 22.70% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 87,542 shares of company stock worth $6,097,905 over the last ninety days. 1.01% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on DOCU. JPMorgan Chase & Co. reduced their price target on shares of Docusign from $80.00 to $78.00 and set a “neutral” rating for the company in a research report on Friday, December 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Docusign in a report on Wednesday, October 8th. Morgan Stanley lifted their price target on shares of Docusign from $86.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Monday, September 8th. Piper Sandler reduced their price objective on Docusign from $90.00 to $75.00 and set a “neutral” rating for the company in a research note on Friday, December 5th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $95.00 target price on shares of Docusign in a report on Friday, December 5th. Six equities research analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $86.80.

Docusign Stock Performance

Shares of Docusign stock opened at $69.98 on Friday. The company has a fifty day moving average of $68.97 and a 200 day moving average of $73.92. Docusign Inc. has a fifty-two week low of $63.41 and a fifty-two week high of $99.30. The company has a market capitalization of $14.01 billion, a P/E ratio of 48.94, a P/E/G ratio of 3.51 and a beta of 0.98.

Docusign Company Profile

DocuSign, Inc (NASDAQ: DOCU) is a leading provider of electronic signature and digital transaction management solutions. The company’s flagship offering, DocuSign eSignature, enables organizations to send, sign and manage legally binding electronic agreements securely in the cloud. Beyond eSignature, DocuSign’s Agreement Cloud combines contract lifecycle management, document generation, and workflow automation to streamline agreement processes from initiation through execution and storage.

DocuSign’s platform serves a diverse customer base spanning industries such as finance, real estate, healthcare, technology, and government.