5 Stocks to Sell According to Julian Robertson’s Tiger Management

4. DocuSign, Inc. (NASDAQ:DOCU)

Number of Hedge Fund Holders: 58

DocuSign, Inc. (NASDAQ:DOCU) is a California-based company that allows organizations and businesses to manage electronic agreements. Ranked fourth on the list of the 10 stocks to sell according to Julian Robertson’s Tiger Management, DocuSign, Inc. (NASDAQ:DOCU) has a market capitalization of $53.58 billion.

Julian Robertson’s hedge fund reduced its stake in the company by 100% in the second quarter, completely selling off all its shares of DocuSign, Inc. (NASDAQ:DOCU)

For the second quarter of 2021, DocuSign, Inc. (NASDAQ:DOCU), reported earnings per share at $0.17, beating estimates by $0.09. The company also reported revenues of $342.21 million, an increase of 45.24% on a year-over-year basis and beating forecast estimates by $23.66 million. At the end of the second quarter of 2021, 58 hedge funds in the database of Insider Monkey held stakes worth $4.6 billion in DocuSign, Inc. (NASDAQ:DOCU), down from 60 in the preceding quarter worth $3.23 billion.

On September 3, Evercore ISI analyst Kirk Materne raised the firm’s price target on DocuSign, Inc. (NASDAQ:DOCU) to $320 from $285 and kept an Outperform rating on the shares.

Out of the hedge funds being tracked by Insider Monkey, Scotland-based investment firm Aubrey Capital Management is a leading shareholder of DocuSign, Inc. (NASDAQ:DOCU) with 34,600 shares worth more than $9.67 billion.

In the Q2 2021 investor letter of Carillon Tower Advisers, the fund mentioned DocuSign, Inc. (NASDAQ:DOCU). Here is what the fund had to say:

“DocuSign provides electronic signature solutions. The firm reported an excellent quarter and investors have appreciated the strong growth combined with the excellent margins the company has posted. DocuSign has a long runway of growth ahead and we believe that it remains in a favorable position to continue gaining market share from traditional manual and paper-based signature solutions.”