Geode Capital Management LLC Has $335.15 Million Position in DocuSign, Inc. (NASDAQ:DOCU)

Geode Capital Management LLC raised its holdings in DocuSign, Inc. (NASDAQ:DOCU) by 7.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,732,363 shares of the company’s stock after buying an additional 249,179 shares during the quarter. Geode Capital Management LLC’s holdings in DocuSign were worth $335,147,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Kestra Investment Management LLC bought a new stake in DocuSign in the fourth quarter valued at about $30,000. First Horizon Advisors Inc. lifted its stake in DocuSign by 102.6% during the fourth quarter. First Horizon Advisors Inc. now owns 397 shares of the company’s stock worth $36,000 after purchasing an additional 201 shares during the period. Modus Advisors LLC acquired a new stake in DocuSign during the fourth quarter valued at approximately $36,000. Avion Wealth grew its stake in shares of DocuSign by 309.2% in the 4th quarter. Avion Wealth now owns 487 shares of the company’s stock valued at $43,000 after purchasing an additional 368 shares during the period. Finally, Avior Wealth Management LLC raised its holdings in shares of DocuSign by 36.5% in the 4th quarter. Avior Wealth Management LLC now owns 542 shares of the company’s stock worth $49,000 after buying an additional 145 shares in the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.

Insider Activity

In other news, insider James P. Shaughnessy sold 7,500 shares of the firm’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $81.31, for a total value of $609,825.00. Following the transaction, the insider now directly owns 45,875 shares in the company, valued at $3,730,096.25. This trade represents a 14.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Blake Jeffrey Grayson sold 8,000 shares of DocuSign stock in a transaction on Friday, February 14th. The stock was sold at an average price of $86.90, for a total value of $695,200.00. Following the sale, the chief financial officer now directly owns 77,851 shares of the company’s stock, valued at approximately $6,765,251.90. This trade represents a 9.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 57,851 shares of company stock valued at $4,911,319. 1.66% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. UBS Group decreased their price target on DocuSign from $100.00 to $90.00 and set a “neutral” rating on the stock in a research note on Friday, March 14th. JMP Securities reaffirmed a “market outperform” rating and issued a $124.00 target price on shares of DocuSign in a report on Tuesday, January 7th. Jefferies Financial Group cut their price target on shares of DocuSign from $115.00 to $105.00 and set a “buy” rating for the company in a report on Monday, March 31st. Robert W. Baird set a $93.00 price target on shares of DocuSign in a research report on Friday, March 14th. Finally, JPMorgan Chase & Co. raised shares of DocuSign from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from $70.00 to $75.00 in a report on Monday, March 10th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $95.83.

DocuSign Stock Performance

NASDAQ:DOCU opened at $72.21 on Friday. The company has a market cap of $14.62 billion, a price-to-earnings ratio of 14.89, a P/E/G ratio of 6.94 and a beta of 1.20. The stock’s fifty day moving average price is $86.02 and its two-hundred day moving average price is $81.98. DocuSign, Inc. has a 52-week low of $48.70 and a 52-week high of $107.86.

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

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.