Invesco Ltd. Raises Stake in DocuSign, Inc. (NASDAQ:DOCU)

Invesco Ltd. lifted its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 283.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,447,275 shares of the company's stock after buying an additional 2,549,310 shares during the period. Invesco Ltd. owned about 1.71% of DocuSign worth $310,048,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Citizens Financial Group Inc. RI raised its stake in DocuSign by 2.3% in the 4th quarter. Citizens Financial Group Inc. RI now owns 5,990 shares of the company's stock valued at $539,000 after acquiring an additional 133 shares during the period. Rakuten Securities Inc. grew its holdings in shares of DocuSign by 20.9% during the 4th quarter. Rakuten Securities Inc. now owns 797 shares of the company's stock worth $72,000 after purchasing an additional 138 shares in the last quarter. Synergy Financial Group LTD increased its holdings in DocuSign by 3.4% in the 4th quarter. Synergy Financial Group LTD now owns 4,241 shares of the company's stock valued at $381,000 after buying an additional 140 shares during the period. M&T Bank Corp boosted its holdings in shares of DocuSign by 1.3% in the 4th quarter. M&T Bank Corp now owns 10,840 shares of the company's stock valued at $975,000 after purchasing an additional 143 shares in the last quarter. Finally, Avior Wealth Management LLC boosted its stake in DocuSign by 36.5% in the fourth quarter. Avior Wealth Management LLC now owns 542 shares of the company's stock valued at $49,000 after buying an additional 145 shares in the last quarter. Institutional investors own 77.64% of the company's stock.

DocuSign Stock Performance

Shares of NASDAQ DOCU traded up $1.11 during trading on Tuesday, hitting $76.37. 634,027 shares of the company traded hands, compared to its average volume of 2,458,651. The firm has a market capitalization of $15.46 billion, a price-to-earnings ratio of 15.75, a P/E/G ratio of 6.94 and a beta of 1.20. The business's fifty day moving average is $82.52 and its 200 day moving average is $82.99. DocuSign, Inc. has a fifty-two week low of $48.70 and a fifty-two week high of $107.86.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Hsbc Global Res upgraded shares of DocuSign from a "moderate sell" rating to a "hold" rating in a research note on Friday. Needham & Company LLC reiterated a "hold" rating on shares of DocuSign in a research note on Friday, March 14th. Wells Fargo & Company upped their target price on DocuSign from $70.00 to $73.00 and gave the stock an "underweight" rating in a report on Friday, March 14th. Jefferies Financial Group reduced their price target on DocuSign from $115.00 to $105.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Finally, Bank of America cut their target price on shares of DocuSign from $112.00 to $98.00 and set a "neutral" rating on the stock in a research report on Friday, March 14th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $93.85.

Insiders Place Their Bets

In related news, CFO Blake Jeffrey Grayson sold 8,000 shares of the firm's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $86.90, for a total transaction of $695,200.00. Following the transaction, the chief financial officer now directly owns 77,851 shares of the company's stock, valued at $6,765,251.90. This trade represents a 9.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Teresa Briggs sold 534 shares of the company's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $87.41, for a total transaction of $46,676.94. Following the completion of the sale, the director now directly owns 8,270 shares of the company's stock, valued at $722,880.70. The trade was a 6.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 47,851 shares of company stock valued at $3,998,719. Corporate insiders own 1.66% of the company's stock.

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.