Geode Capital Management LLC Grows Stake in DocuSign, Inc. (NASDAQ:DOCU)

Geode Capital Management LLC grew its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 7.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 3,732,363 shares of the company's stock after acquiring an additional 249,179 shares during the period. Geode Capital Management LLC owned about 1.85% of DocuSign worth $335,147,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. State Street Corp lifted its stake in shares of DocuSign by 2.3% in the 3rd quarter. State Street Corp now owns 5,372,939 shares of the company's stock valued at $333,604,000 after purchasing an additional 120,743 shares during the period. American Century Companies Inc. lifted its position in DocuSign by 18.5% in the 4th quarter. American Century Companies Inc. now owns 5,315,459 shares of the company's stock valued at $478,072,000 after acquiring an additional 831,611 shares in the last quarter. Norges Bank bought a new stake in DocuSign during the fourth quarter worth $223,196,000. Thrivent Financial for Lutherans raised its position in DocuSign by 1.8% in the 4th quarter. Thrivent Financial for Lutherans now owns 2,318,137 shares of the company's stock valued at $208,494,000 after buying an additional 40,825 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in DocuSign by 201.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,158,311 shares of the company's stock valued at $194,118,000 after acquiring an additional 1,442,639 shares in the last quarter. Institutional investors own 77.64% of the company's stock.

Insider Activity at DocuSign

In related news, Director Peter Solvik sold 10,000 shares of the stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $91.26, for a total transaction of $912,600.00. Following the completion of 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Blake Jeffrey Grayson sold 16,111 shares of the stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $83.20, for a total transaction of $1,340,435.20. Following the transaction, the chief financial officer now directly owns 93,960 shares of the company's stock, valued at $7,817,472. This trade represents a 14.64 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 57,851 shares of company stock worth $4,911,319. 1.66% of the stock is owned by corporate insiders.

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Analyst Ratings Changes

A number of equities analysts have recently weighed in on DOCU shares. William Blair upgraded DocuSign from a "market perform" rating to an "outperform" rating in a research note on Monday, March 17th. Wells Fargo & Company upped their price target on DocuSign from $70.00 to $73.00 and gave the company an "underweight" rating in a research report on Friday, March 14th. Royal Bank of Canada reissued a "sector perform" rating and issued a $90.00 price objective on shares of DocuSign in a report on Friday, March 14th. Citigroup lifted their target price on shares of DocuSign from $113.00 to $115.00 and gave the stock a "buy" rating in a research note on Friday, March 14th. Finally, Bank of America cut their price objective on shares of DocuSign from $112.00 to $98.00 and set a "neutral" rating for the company in a report on Friday, March 14th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, DocuSign presently has an average rating of "Hold" and a consensus target price of $95.83.

DocuSign Price Performance

Shares of DOCU traded down $6.22 on Thursday, reaching $72.37. The company's stock had a trading volume of 536,609 shares, compared to its average volume of 2,473,222. DocuSign, Inc. has a 12-month low of $48.70 and a 12-month high of $107.86. The stock has a market capitalization of $14.65 billion, a P/E ratio of 14.95, a PEG ratio of 6.94 and a beta of 1.20. The stock's 50 day simple moving average is $83.86 and its two-hundred day simple moving average is $82.56.

DocuSign (NASDAQ:DOCU - Get Free Report) last announced its quarterly earnings data 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 return on equity of 14.90% and a net margin of 34.73%. The company had revenue of $776.25 million during the quarter, compared to the consensus estimate of $760.94 million. During the same period in the previous year, the company posted $0.76 EPS. The firm's revenue was up 9.0% on a year-over-year basis. Analysts expect that DocuSign, Inc. will post 1.17 earnings per share for the current year.

DocuSign Company Profile

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.