Geode Capital Management LLC Grows Position in Docusign Inc. $DOCU

Geode Capital Management LLC boosted its stake in Docusign Inc. (NASDAQ:DOCU) by 0.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,084,463 shares of the company’s stock after purchasing an additional 18,873 shares during the quarter. Geode Capital Management LLC owned about 2.04% of Docusign worth $278,665,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Integrity Alliance LLC. purchased a new stake in Docusign in the fourth quarter valued at approximately $252,000. Cary Street Partners Investment Advisory LLC grew its stake in Docusign by 309.5% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 561 shares of the company’s stock worth $38,000 after buying an additional 424 shares during the period. Harbour Investments Inc. grew its stake in Docusign by 56.6% during the fourth quarter. Harbour Investments Inc. now owns 797 shares of the company’s stock worth $55,000 after buying an additional 288 shares during the period. Allstate Corp grew its stake in Docusign by 104.5% during the fourth quarter. Allstate Corp now owns 15,736 shares of the company’s stock worth $1,076,000 after buying an additional 8,043 shares during the period. Finally, Hantz Financial Services Inc. grew its stake in Docusign by 35.9% during the fourth quarter. Hantz Financial Services Inc. now owns 3,616 shares of the company’s stock worth $247,000 after buying an additional 955 shares during the period. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

DOCU has been the subject of several research reports. BTIG Research reiterated a “buy” rating and set a $70.00 price objective on shares of Docusign in a research note on Wednesday, March 18th. Wells Fargo & Company decreased their price objective on shares of Docusign from $75.00 to $60.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 18th. HSBC set a $53.00 price objective on shares of Docusign in a research note on Friday, February 13th. Morgan Stanley decreased their price objective on shares of Docusign from $90.00 to $69.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 18th. Finally, Robert W. Baird decreased their price objective on shares of Docusign from $75.00 to $55.00 and set a “neutral” rating for the company in a research note on Wednesday, March 18th. Three investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $61.40.

Insider Transactions at Docusign

In other Docusign news, insider James P. Shaughnessy sold 12,000 shares of the stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $46.83, for a total transaction of $561,960.00. Following the sale, the insider directly owned 53,631 shares of the company’s stock, valued at approximately $2,511,539.73. This represents a 18.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robert Chatwani sold 16,696 shares of the stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $48.10, for a total transaction of $803,077.60. Following the sale, the insider directly owned 72,458 shares in the company, valued at $3,485,229.80. This trade represents a 18.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 64,309 shares of company stock valued at $3,061,570 over the last ninety days. 0.59% of the stock is currently owned by corporate insiders.

Docusign Price Performance

DOCU opened at $57.02 on Tuesday. The stock has a market capitalization of $11.08 billion, a PE ratio of 38.53, a P/E/G ratio of 2.01 and a beta of 0.92. The firm’s fifty day moving average price is $47.41 and its 200 day moving average price is $54.53. Docusign Inc. has a 12-month low of $40.16 and a 12-month high of $94.67.

Docusign (NASDAQ:DOCU) last posted its quarterly earnings results on Tuesday, March 17th. The company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.06. The firm had revenue of $836.86 million for the quarter, compared to analysts’ expectations of $828.23 million. Docusign had a net margin of 9.60% and a return on equity of 16.86%. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.86 earnings per share. On average, equities research analysts forecast that Docusign Inc. will post 1.75 earnings per share for the current fiscal year.

Docusign announced that its Board of Directors has authorized a share buyback program on Tuesday, March 17th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 21% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its shares are undervalued.

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.