Docusign Inc. $DOCU Position Boosted by Fiera Capital Corp

Fiera Capital Corp increased its position in Docusign Inc. (NASDAQ:DOCU) by 32.1% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 673,688 shares of the company’s stock after purchasing an additional 163,798 shares during the period. Fiera Capital Corp’s holdings in Docusign were worth $46,080,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Docusign by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 21,625,551 shares of the company’s stock worth $1,558,986,000 after acquiring an additional 225,525 shares in the last quarter. State Street Corp raised its position in shares of Docusign by 0.5% during the 3rd quarter. State Street Corp now owns 8,116,797 shares of the company’s stock valued at $585,140,000 after acquiring an additional 41,821 shares in the last quarter. Capital World Investors raised its position in shares of Docusign by 38.1% during the 4th quarter. Capital World Investors now owns 5,815,804 shares of the company’s stock valued at $397,801,000 after acquiring an additional 1,603,900 shares in the last quarter. Geode Capital Management LLC lifted its stake in Docusign by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 4,084,463 shares of the company’s stock worth $278,665,000 after purchasing an additional 18,873 shares during the last quarter. Finally, Norges Bank bought a new position in Docusign during the fourth quarter worth $186,795,000. Institutional investors and hedge funds own 77.64% of the company’s stock.

Docusign Price Performance

Shares of NASDAQ DOCU opened at $46.16 on Tuesday. The firm has a market capitalization of $8.97 billion, a PE ratio of 29.97, a P/E/G ratio of 1.80 and a beta of 0.92. Docusign Inc. has a 1-year low of $40.16 and a 1-year high of $86.65. The business’s fifty day moving average price is $47.74 and its two-hundred day moving average price is $53.95.

Docusign (NASDAQ:DOCU) last announced its quarterly earnings results on Thursday, June 4th. The company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.10. Docusign had a net margin of 9.59% and a return on equity of 17.48%. The company had revenue of $830.24 million during the quarter, compared to the consensus estimate of $824.71 million. During the same quarter in the previous year, the company posted $0.90 earnings per share. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. Equities research analysts expect that Docusign Inc. will post 1.76 earnings per share for the current fiscal year.

Docusign announced that its board has approved a stock repurchase plan on Tuesday, March 17th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 21% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several analysts have weighed in on DOCU shares. Morgan Stanley lowered their target price 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. Piper Sandler decreased their price target on shares of Docusign from $75.00 to $52.00 and set a “neutral” rating for the company in a report on Wednesday, March 18th. Wells Fargo & Company lowered their price objective on shares of Docusign from $60.00 to $55.00 and set an “equal weight” rating for the company in a research report on Friday. Royal Bank Of Canada dropped their price objective on shares of Docusign from $70.00 to $55.00 and set a “sector perform” rating on the stock in a research note on Wednesday, March 18th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Docusign in a report on Friday. Three research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $60.27.

Insider Activity

In other Docusign news, CRO Paula Hansen sold 6,000 shares of the company’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $46.84, for a total value of $281,040.00. Following the completion of the transaction, the executive owned 79,233 shares in the company, valued at approximately $3,711,273.72. This represents a 7.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mary Agnes Wilderotter sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $48.15, for a total transaction of $144,450.00. Following the completion of the sale, the director owned 59,803 shares in the company, valued at $2,879,514.45. The trade was a 4.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 65,489 shares of company stock worth $3,125,814 over the last three months. Insiders own 0.59% of the company’s stock.

About Docusign

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.