Federated Hermes Inc. Buys 115,829 Shares of Docusign Inc. $DOCU

Federated Hermes Inc. raised its position in Docusign Inc. (NASDAQ:DOCU) by 101.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 230,524 shares of the company’s stock after purchasing an additional 115,829 shares during the quarter. Federated Hermes Inc.’s holdings in Docusign were worth $16,618,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of DOCU. State Street Corp boosted its stake in shares of Docusign by 3.0% during the 2nd quarter. State Street Corp now owns 8,074,976 shares of the company’s stock worth $628,960,000 after buying an additional 236,494 shares during the last quarter. American Century Companies Inc. increased its position in shares of Docusign by 1.6% in the second quarter. American Century Companies Inc. now owns 5,564,318 shares of the company’s stock valued at $433,405,000 after acquiring an additional 86,560 shares during the last quarter. Geode Capital Management LLC raised its holdings in Docusign by 1.5% during the second quarter. Geode Capital Management LLC now owns 3,985,808 shares of the company’s stock worth $309,910,000 after acquiring an additional 59,941 shares in the last quarter. Norges Bank acquired a new position in Docusign during the second quarter valued at approximately $140,987,000. Finally, Legal & General Group Plc grew its stake in Docusign by 16.5% in the second quarter. Legal & General Group Plc now owns 1,525,729 shares of the company’s stock valued at $118,839,000 after purchasing an additional 215,580 shares in the last quarter. 77.64% of the stock is currently owned by institutional investors.

Docusign Stock Performance

DOCU stock opened at $52.54 on Friday. Docusign Inc. has a 52 week low of $51.90 and a 52 week high of $99.30. The company has a market capitalization of $10.52 billion, a PE ratio of 36.74, a price-to-earnings-growth ratio of 2.64 and a beta of 0.99. The company’s 50-day simple moving average is $65.41 and its 200 day simple moving average is $70.93.

Wall Street Analyst Weigh In

DOCU has been the subject of several recent analyst reports. JPMorgan Chase & Co. cut their price objective on Docusign from $80.00 to $78.00 and set a “neutral” rating for the company in a report on Friday, December 5th. Wells Fargo & Company cut their price target on shares of Docusign from $85.00 to $75.00 and set an “equal weight” rating for the company in a research note on Friday, December 5th. Zacks Research downgraded shares of Docusign from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 24th. UBS Group lowered their price objective on shares of Docusign from $85.00 to $75.00 and set a “neutral” rating on the stock in a research note on Friday, December 5th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Docusign in a research note on Wednesday, January 21st. Six research analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the stock. According to data from MarketBeat.com, Docusign has a consensus rating of “Hold” and an average target price of $85.13.

Insider Activity at Docusign

In other Docusign news, CEO Allan C. Thygesen sold 26,250 shares of the stock in a transaction dated Friday, January 9th. The shares were sold at an average price of $69.60, for a total transaction of $1,827,000.00. Following the sale, the chief executive officer directly owned 142,261 shares in the company, valued at $9,901,365.60. This represents a 15.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Robert Chatwani sold 13,818 shares of the stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $68.33, for a total transaction of $944,183.94. Following the sale, the insider owned 70,197 shares in the company, valued at $4,796,561.01. This represents a 16.45% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 78,292 shares of company stock worth $5,374,260 in the last quarter. 1.01% of the stock is currently owned by corporate insiders.

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.