Should You Consider Buying DocuSign (DOCU) Shares?

ClearBridge Investments, an investment management firm, published its “Global Growth Strategy” fourth quarter 2021 investor letter – a copy of which can be downloaded here. During the fourth quarter, the ClearBridge Global Growth Strategy outperformed its MSCI ACWI benchmark. The Strategy delivered gains across eight of the nine sectors in which it was invested (out of 11 total), with the information technology (IT) and industrials sectors the primary contributors. The communication services sector was the sole detractor. Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.

ClearBridge Investments Global Growth Strategy, in its Q4 2021 investor letter, mentioned DocuSign, Inc. (NASDAQ:DOCU) and discussed its stance on the firm. Founded in 2003, DocuSign, Inc. (NASDAQ:DOCU) is a San Francisco, California-based electronic signature technology company with a $21.4 billion market capitalization, and is currently spearheaded by its CEO, Dan Springer. DocuSign, Inc. (NASDAQ:DOCU) delivered a -29.12% return since the beginning of the year, while its 12-month returns are down by -46.68%. The stock closed at $107.95 per share on March 30, 2022.

Here is what ClearBridge Investments Global Growth Strategy has to say about DocuSign, Inc. (NASDAQ:DOCU) in its Q4 2021 investor letter:

“DocuSign, a maker of e-signature and digital contract management software, got caught up in this trend. The stock came under pressure in December on weak third-quarter billings and a lower than expected outlook. The stock is now trading at pre-COVID-19 levels even though the company is much more profitable today and maintains a dominant position in an increasingly mobile economy with its digital signature and contract services.”

Our calculations show that DocuSign, Inc. (NASDAQ:DOCU) failed to obtain a mark on our list of the 30 Most Popular Stocks Among Hedge Funds. DocuSign, Inc. (NASDAQ:DOCU) was in 49 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 51 funds in the previous quarter. DocuSign, Inc. (NASDAQ:DOCU) delivered a -29.20% return in the past 3 months.

In March 2022, we also shared another hedge fund’s views on DocuSign, Inc. (NASDAQ:DOCU) in another article. You can find other letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q4 page.

Disclosure: None. This article is originally published at Insider Monkey.