Federated Hermes Inc. Boosts Holdings in Docusign Inc. $DOCU

Federated Hermes Inc. lifted its stake in shares of Docusign Inc. (NASDAQ:DOCU) by 101.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 230,524 shares of the company’s stock after purchasing an additional 115,829 shares during the period. Federated Hermes Inc. owned about 0.11% of Docusign worth $16,618,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of DOCU. Nordea Investment Management AB grew its holdings in shares of Docusign by 3.6% during the third quarter. Nordea Investment Management AB now owns 1,154,824 shares of the company’s stock valued at $87,316,000 after buying an additional 40,432 shares in the last quarter. Baird Financial Group Inc. boosted its position in Docusign by 927.2% during the 2nd quarter. Baird Financial Group Inc. now owns 124,145 shares of the company’s stock worth $9,670,000 after acquiring an additional 112,059 shares during the period. Rakuten Investment Management Inc. acquired a new stake in Docusign during the 3rd quarter worth about $5,335,000. QRG Capital Management Inc. grew its stake in Docusign by 6.6% during the 2nd quarter. QRG Capital Management Inc. now owns 70,583 shares of the company’s stock valued at $5,498,000 after acquiring an additional 4,341 shares in the last quarter. Finally, Vise Technologies Inc. acquired a new position in shares of Docusign in the 2nd quarter valued at about $436,000. Institutional investors and hedge funds own 77.64% of the company’s stock.

Docusign Stock Performance

NASDAQ DOCU opened at $52.54 on Friday. The stock has a 50-day simple moving average of $65.41 and a 200 day simple moving average of $70.93. Docusign Inc. has a twelve month low of $51.90 and a twelve month high of $99.30. The stock has a market capitalization of $10.52 billion, a PE ratio of 36.74, a P/E/G ratio of 2.64 and a beta of 0.99.

Wall Street Analyst Weigh In

A number of research firms have issued reports on DOCU. Evercore ISI cut their target price on shares of Docusign from $92.00 to $80.00 and set an “in-line” rating for the company in a research report on Friday, December 5th. Needham & Company LLC reaffirmed a “hold” rating on shares of Docusign in a research note on Wednesday, December 17th. Bank of America reduced their price objective on Docusign from $102.00 to $82.00 and set a “neutral” rating for the company in a research report on Friday, December 5th. Wells Fargo & Company lowered their target price on Docusign from $85.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Friday, December 5th. Finally, Zacks Research downgraded Docusign from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 24th. Six investment analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Docusign currently has a consensus rating of “Hold” and a consensus target price of $85.13.

Insider Buying and Selling at Docusign

In other Docusign news, CFO Blake Jeffrey Grayson sold 9,515 shares of the firm’s stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $68.33, for a total value of $650,159.95. Following the transaction, the chief financial officer directly owned 118,213 shares of the company’s stock, valued at approximately $8,077,494.29. This trade represents a 7.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James P. Shaughnessy sold 12,000 shares of Docusign stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $67.03, for a total value of $804,360.00. Following the sale, the insider directly owned 54,550 shares of the company’s stock, valued at approximately $3,656,486.50. This trade represents a 18.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 78,292 shares of company stock worth $5,374,260 over the last quarter. Corporate insiders own 1.01% 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.