Lazard Asset Management LLC Has $6.01 Million Stock Holdings in Docusign Inc. $DOCU

Lazard Asset Management LLC decreased its position in Docusign Inc. (NASDAQ:DOCU) by 33.7% during the 1st quarter, HoldingsChannel reports. The fund owned 126,819 shares of the company’s stock after selling 64,328 shares during the quarter. Lazard Asset Management LLC’s holdings in Docusign were worth $6,012,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. OMERS ADMINISTRATION Corp raised its holdings in shares of Docusign by 3.4% in the first quarter. OMERS ADMINISTRATION Corp now owns 8,878 shares of the company’s stock valued at $421,000 after purchasing an additional 296 shares during the last quarter. Waverly Advisors LLC bought a new position in Docusign in the first quarter valued at $202,000. Renaissance Technologies LLC grew its position in Docusign by 4.0% in the first quarter. Renaissance Technologies LLC now owns 3,170,061 shares of the company’s stock valued at $150,293,000 after purchasing an additional 123,100 shares in the last quarter. Bollard Group LLC acquired a new stake in Docusign in the 1st quarter valued at $429,000. Finally, Public Employees Retirement System of Ohio lifted its position in Docusign by 1.6% during the 1st quarter. Public Employees Retirement System of Ohio now owns 66,377 shares of the company’s stock worth $3,147,000 after buying an additional 1,026 shares in the last quarter. 77.64% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on DOCU shares. BTIG Research decreased their price objective on Docusign from $70.00 to $60.00 and set a “buy” rating for the company in a report on Friday, June 5th. Wall Street Zen upgraded Docusign from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 25th. Needham & Company LLC reiterated a “hold” rating on shares of Docusign in a research note on Friday, June 5th. Weiss Ratings raised Docusign from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, July 14th. Finally, Jefferies Financial Group raised their target price on shares of Docusign from $45.00 to $50.00 and gave the company a “hold” rating in a research note on Friday, June 5th. Three analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $60.27.

Docusign Trading Down 6.7%

Shares of NASDAQ DOCU opened at $54.29 on Friday. The company has a market capitalization of $10.37 billion, a P/E ratio of 35.25, a P/E/G ratio of 1.71 and a beta of 0.90. Docusign Inc. has a 12 month low of $40.16 and a 12 month high of $86.65. The stock has a 50 day moving average of $48.31 and a 200-day moving average of $48.41.

Docusign (NASDAQ:DOCU) last posted its quarterly earnings results on Thursday, June 4th. The company reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.10. Docusign had a return on equity of 17.48% and a net margin of 9.59%.The business had revenue of $830.24 million for the quarter, compared to analysts’ expectations of $824.71 million. During the same quarter in the prior year, the business earned $0.90 EPS. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. Analysts predict that Docusign Inc. will post 2.03 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Blake Jeffrey Grayson sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $45.55, for a total transaction of $683,250.00. Following the completion of the sale, the chief financial officer owned 141,429 shares in the company, valued at approximately $6,442,090.95. This trade represents a 9.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Allan C. Thygesen sold 26,250 shares of the company’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $46.02, for a total transaction of $1,208,025.00. Following the completion of the transaction, the chief executive officer owned 159,038 shares in the company, valued at approximately $7,318,928.76. This trade represents a 14.17% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 76,695 shares of company stock valued at $3,476,002. 0.59% of the stock is currently owned by insiders.

Docusign 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.