The Vanguard Group, Inc. has recently announced that it has increased stake in DocuSign Inc. (NASDAQ:DOCU) by 1.13%. After grabbing 18.05 million shares, the institutional investor is now in possession of 0.2 million shares of the Technology Company. The new investment brought the stake of investor firm to 8.99% having worth around $871.86 million. Moreover, Polen Capital Management LLC increased its share by 33901.0 to have a control over 8.65 million shares. And BlackRock Fund Advisors raised its holdings to 0.25 million shares by acquiring 8.37 million shares or 4.17% of the stake.
DocuSign Inc. (DOCU) concluded trading on 11/23/22 at a closing price of $46.35, with 3.41 million shares of worth about $157.87 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -40.35% during that period and on Wednesday the price saw a gain of about 5.68%. Currently the company’s common shares owned by public are about 200.62M shares, out of which, 197.79M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 23 analysts are covering the DOCU stock and their offered price forecasts bring an average price target of $66.51. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $93.00 and could fall to a lowest price of $44.00. The stock’s current price level is 42.95% above of average price target set by the analysts, while a rise to estimated low would result in loss of -5.34% for the stock. However, touching the estimated high of $93.00 would mean a gain of 50.16% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 161 times over the past 12 months. They bought 483,306 shares in 88 of the transactions. In 73 selling transactions, insiders dumped 198,630 shares.
Vanguard Total Stock Market Index, Vanguard Mid Cap Index Fund, and American Funds Growth Fund of Ame are the top 3 mutual funds which are holding stakes in DocuSign Inc. Vanguard Total Stock Market Index is currently holding 6.0 million shares of worth totaling $289.8 million. The company recently came buying 30493.0 shares which brought its stake up to 2.99% of the company’s outstanding shares. Vanguard Mid Cap Index Fund bought 58613.0 shares, after which its hold over company’s outstanding shares expand to 2.30%, leaving 4.62 million shares with the mutual fund that have a worth of about $222.98 million. American Funds Growth Fund of Ame, after buying 3.43 million shares, have now control over 1.71% of the stake in the company. It holds 0.42 million shares of worth $165.57 million.
DocuSign Inc. (NASDAQ: DOCU) started trading at $43.81, below -$0.05 from concluding price of the previous day. However, the stock later moved at a day high price of 46.69, or with a gain of 5.68%. Stock saw a price change of -6.46% in past 5 days and over the past one month there was a price change of -7.72%. Year-to-date (YTD), DOCU shares are showing a performance of -69.57% which decreased to -80.90% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $39.57 but also hit the highest price of $257.48 during that period. The average intraday trading volume for DocuSign Inc. shares is 5.23 million. The stock is currently trading 0.05% above its 20-day simple moving average (SMA20), while that difference is down -6.10% for SMA50 and it goes to -36.86% lower than SMA200.
The Vanguard Group, Inc. acquired 18.05 million shares of DocuSign Inc. having value of about $871.86 million. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 0.2 million shares in the company valued at close to $9322051.05, or have control over 1.13% stake in the company. DocuSign Inc. (NASDAQ: DOCU) currently have 200.62M outstanding shares and institutions hold larger chunk of about 78.80% of that. Holding of mutual funds in the company is about 35.62% while other institutional holders and individual stake holders have control over 42.65% and 21.72% of the stake respectively.
The stock has a current market capitalization of $9.60B and its 3Y-monthly beta is at 1.11. It has posted earnings per share of -$0.54 in the same period. It has Quick Ratio of 1.00 while making debt-to-equity ratio of 0.00. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for DOCU, volatility over the week remained 5.43% while standing at 6.14% over the month.
Analysts are in expectations that DocuSign Inc. (DOCU) stock would likely to be making an EPS of $0.42 in the current quarter, while forecast for next quarter EPS is $0.41 and it is $1.88 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.35 which is $0.5 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.58 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 72.80% while it is estimated to increase by 14.04% in next year. EPS is likely to grow at an annualized rate of 20.00% for next 5-years, compared to annual growth of 16.20% made by the stock over the past 5-years.
Analysts at 23 brokerage firms have issued recommendations for the DocuSign Inc. (DOCU)’s stock and average of those rates the stock at a “Hold” and assign it a score of 3.00. Out of those 23 Wall Street analysts, 4 recommended a “Buy” rating, while 14 were in favor recommending the stock as a “Hold” and 4 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Wedbush on October 12, 2022 offering a Neutral rating for the stock and assigned a target price of $55 to it. Coverage by Morgan Stanley stated DocuSign Inc. (DOCU) stock as an Equal-weight in their note to investors on October 03, 2022, suggesting a price target of $47 for the stock. On September 22, 2022, MoffettNathanson Initiated their recommendations, while on September 09, 2022, JP Morgan Upgrade their ratings for the stock with a price target of $65. Stock get a Sector perform rating from RBC Capital Mkts on August 22, 2022.