DocuSign, Inc. (NASDAQ:DOCU) Holdings Boosted by Geode Capital Management LLC

Geode Capital Management LLC raised its position in shares of DocuSign, Inc. (NASDAQ:DOCU) by 7.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,732,363 shares of the company’s stock after purchasing an additional 249,179 shares during the quarter. Geode Capital Management LLC owned 1.85% of DocuSign worth $335,147,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of DOCU. Kestra Investment Management LLC acquired a new position in DocuSign during the fourth quarter valued at $30,000. First Horizon Advisors Inc. grew its stake in DocuSign by 102.6% during the 4th quarter. First Horizon Advisors Inc. now owns 397 shares of the company’s stock valued at $36,000 after acquiring an additional 201 shares in the last quarter. Modus Advisors LLC acquired a new position in shares of DocuSign in the 4th quarter valued at about $36,000. Avion Wealth lifted its position in shares of DocuSign by 309.2% in the fourth quarter. Avion Wealth now owns 487 shares of the company’s stock worth $43,000 after purchasing an additional 368 shares in the last quarter. Finally, Avior Wealth Management LLC boosted its holdings in shares of DocuSign by 36.5% during the fourth quarter. Avior Wealth Management LLC now owns 542 shares of the company’s stock worth $49,000 after purchasing an additional 145 shares during the period. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Insiders Place Their Bets

In other news, Director Peter Solvik sold 10,000 shares of the firm’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $91.26, for a total value of $912,600.00. Following the sale, the director now owns 150,253 shares in the company, valued at approximately $13,712,088.78. This trade represents a 6.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider James P. Shaughnessy sold 7,500 shares of the company’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $81.31, for a total transaction of $609,825.00. Following the transaction, the insider now owns 45,875 shares of the company’s stock, valued at approximately $3,730,096.25. The trade was a 14.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 57,851 shares of company stock valued at $4,911,319 in the last three months. Company insiders own 1.66% of the company’s stock.

DocuSign Trading Down 6.7 %

NASDAQ DOCU opened at $72.21 on Friday. The company has a market cap of $14.62 billion, a P/E ratio of 14.89, a P/E/G ratio of 6.94 and a beta of 1.20. DocuSign, Inc. has a 1 year low of $48.70 and a 1 year high of $107.86. The company has a fifty day simple moving average of $86.02 and a 200 day simple moving average of $81.98.

DocuSign (NASDAQ:DOCU) last released its quarterly earnings results on Thursday, March 13th. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.02. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. The company had revenue of $776.25 million during the quarter, compared to analysts’ expectations of $760.94 million. During the same period in the prior year, the company earned $0.76 earnings per share. The business’s quarterly revenue was up 9.0% compared to the same quarter last year. Equities research analysts forecast that DocuSign, Inc. will post 1.17 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

DOCU has been the topic of several research reports. UBS Group dropped their price objective on shares of DocuSign from $100.00 to $90.00 and set a “neutral” rating on the stock in a research note on Friday, March 14th. Wells Fargo & Company increased their price objective on DocuSign from $70.00 to $73.00 and gave the stock an “underweight” rating in a report on Friday, March 14th. Hsbc Global Res raised DocuSign to a “moderate sell” rating in a research report on Friday, December 6th. JPMorgan Chase & Co. raised DocuSign from an “underweight” rating to a “neutral” rating and upped their target price for the stock from $70.00 to $75.00 in a research report on Monday, March 10th. Finally, Wedbush reiterated a “neutral” rating and set a $100.00 price target on shares of DocuSign in a report on Friday, March 14th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $95.83.

About DocuSign

DocuSign, Inc provides electronic signature solution in the United States and internationally. The company provides e-signature solution that enables sending and signing of agreements on various devices; Contract Lifecycle Management (CLM), which automates workflows across the entire agreement process; Document Generation streamlines the process of generating new, custom agreements; and Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce.