Federated Hermes Inc. Raises Holdings in DocuSign, Inc. (NASDAQ:DOCU)

Federated Hermes Inc. raised its position in DocuSign, Inc. (NASDAQ:DOCU) by 21.6% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 422,859 shares of the company’s stock after purchasing an additional 75,222 shares during the period. Federated Hermes Inc. owned 0.21% of DocuSign worth $38,032,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kestra Investment Management LLC purchased a new position in shares of DocuSign in the fourth quarter worth about $30,000. First Horizon Advisors Inc. raised its holdings in DocuSign by 102.6% in the 4th quarter. First Horizon Advisors Inc. now owns 397 shares of the company’s stock valued at $36,000 after acquiring an additional 201 shares during the last quarter. Modus Advisors LLC purchased a new position in DocuSign in the 4th quarter worth approximately $36,000. Avion Wealth boosted its holdings in shares of DocuSign by 309.2% during the 4th quarter. Avion Wealth now owns 487 shares of the company’s stock worth $43,000 after purchasing an additional 368 shares during the last quarter. Finally, Avior Wealth Management LLC grew its position in shares of 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 purchasing an additional 145 shares in the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.

Analyst Ratings Changes

DOCU has been the topic of a number of analyst reports. William Blair upgraded DocuSign from a “market perform” rating to an “outperform” rating in a research report on Monday, March 17th. Wells Fargo & Company lifted their price target on DocuSign from $70.00 to $73.00 and gave the stock an “underweight” rating in a report on Friday, March 14th. Wedbush reissued a “neutral” rating and issued a $100.00 price objective on shares of DocuSign in a report on Friday, March 14th. UBS Group reduced their target price on shares of DocuSign from $100.00 to $90.00 and set a “neutral” rating on the stock in a research note on Friday, March 14th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $90.00 price target on shares of DocuSign in a research note on Friday, March 14th. 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’s stock. Based on data from MarketBeat, DocuSign has an average rating of “Hold” and a consensus target price of $95.83.

DocuSign Trading Down 0.4 %

Shares of NASDAQ DOCU opened at $71.95 on Tuesday. The stock has a market capitalization of $14.57 billion, a PE ratio of 14.84, a PEG ratio of 6.94 and a beta of 1.20. DocuSign, Inc. has a twelve month low of $48.70 and a twelve month high of $107.86. The stock has a fifty day simple moving average of $85.61 and a 200-day simple moving average of $82.45.

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, topping analysts’ consensus estimates of $0.84 by $0.02. The company had revenue of $776.25 million for the quarter, compared to analyst estimates of $760.94 million. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.76 earnings per share. On average, equities analysts predict that DocuSign, Inc. will post 1.17 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider James P. Shaughnessy sold 7,500 shares of the business’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $81.31, for a total transaction of $609,825.00. Following the completion of the transaction, the insider now directly owns 45,875 shares of the company’s stock, valued at approximately $3,730,096.25. The trade was a 14.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Peter Solvik sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The shares were 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 directly owns 150,253 shares in the company, valued at approximately $13,712,088.78. This trade represents a 6.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 57,851 shares of company stock worth $4,911,319 over the last 90 days. 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.