The Vanguard Group, Inc. recently announced the acquisition of new stake in DocuSign Inc. (NASDAQ:DOCU). The institutional investor has increased its shareholding in the Technology company by 3.17% to 18.62 million shares with purchase of 0.57 million shares. This fresh investment now brings its stake to 9.22% valued currently at $920.68 million. In addition, Polen Capital Management LLC raised its holdings by 0.27 million to 8.48 million shares. And Fisher Asset Management LLC has lifted its position by 3.36% or 0.19 million shares – to 5.82 million shares.
With over 3.47 million DocuSign Inc. (DOCU) shares trading Monday and a closing price of $55.45 on the day, the dollar volume was approximately $192.49 million. The shares have shown a positive half year performance of 16.88% and its price on 05/22/23 gained nearly 4.39%. Currently, there are 201.91M common shares owned by the public and among those 197.79M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 22 analysts who have offered their price forecasts for DOCU have a consensus price objective of $64.93. The analysts have set the share’s price value over the next 12 months at a high of $84.00 and a low of $48.00. The average price target is 18.6% above its recent price level and a downside to the estimated low will see the stock lose -15.52% over that period. But an upside of 33.99% will see the stock hit the forecast high price target while median target price for the stock is $60.00.
Insiders at the company have transacted a total of 82 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 52 of these insider trades were purchases, accounting for 253,300 shares. Insider sales of the common stock occurred on 30 occasions, with total insider shares sold totaling 546,385 shares.
The top 3 mutual fund holders in DocuSign Inc. are Vanguard Total Stock Market ETF, American Funds Growth Fund of Ame, and Vanguard Mid Cap Index Fund. Vanguard Total Stock Market ETF owns 6.22 million shares of the company’s stock, all valued at over $307.38 million. The company bought an additional 43727.0 shares recently to bring their total holdings to about 3.08% of the shares outstanding. American Funds Growth Fund of Ame bought 2.19 million shares to see its total holdings expand to 6.19 million shares valued at over $305.98 million and representing 3.07% of the shares outstanding. Vanguard Mid Cap Index Fund bought 15439.0 shares to bring its total holdings to over 4.64 million shares at a value of $229.53 million. Vanguard Mid Cap Index Fund now owns shares totaling to 2.30% of the shares outstanding.
Shares of DocuSign Inc. (NASDAQ: DOCU) opened at $53.10, down -$0.02 from a prior closing price of $53.12. However, the script later moved the day high at 55.62, up 4.39%. The company’s stock has a 5-day price change of 8.51% and -6.98% over the past three months. DOCU shares are trading 0.05% year to date (YTD), with the 12-month market performance down to -29.07% lower. It has a 12-month low price of $39.57 and touched a high of $92.04 over the same period. DOCU has an average intraday trading volume of 3.83 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 11.53%, 3.93%, and 0.27% respectively.
Institutional ownership of DocuSign Inc. (NASDAQ: DOCU) shares accounts for 78.60% of the company’s 201.91M shares outstanding. Mutual fund holders own 38.58%, while other institutional holders and individual stakeholders account for 40.11% and 21.40% respectively.
It has a market capitalization of $11.10B and a beta (3y monthly) value of 0.95. The earnings-per-share (ttm) stands at -$0.49. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.85% over the week and 3.33% over the month.
Analysts forecast that DocuSign Inc. (DOCU) will achieve an EPS of $0.55 for the current quarter, $0.59 for the next quarter and $2.66 for 2025. The lowest estimate earnings-per-share for the quarter is $0.5 while analysts give the company a high EPS estimate of $0.69. Comparatively, EPS for the current quarter was $0.38 a year ago. Earnings per share for the fiscal year are expected to decrease by -36.30%, and 10.67% over the next financial year. EPS should grow at an annualized rate of 20.00% over the next five years, compared to -4.80% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 22 brokerage firm advisors rate DocuSign Inc. (DOCU) as a “Moderate Buy” at a consensus score of 2.80. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 14 of the 22 advise that investors “hold,” and 4 rated it as a “Sell.”
