Jennison Associates LLC Has $53.95 Million Holdings in Docusign Inc. (NASDAQ:DOCU)

Jennison Associates LLC grew its holdings in shares of Docusign Inc. (NASDAQ:DOCU - Free Report) by 362.2% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 662,817 shares of the company's stock after acquiring an additional 519,423 shares during the period. Jennison Associates LLC owned about 0.33% of Docusign worth $53,953,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Natixis Advisors LLC increased its stake in Docusign by 81.1% in the fourth quarter. Natixis Advisors LLC now owns 25,457 shares of the company's stock valued at $2,290,000 after purchasing an additional 11,399 shares in the last quarter. Envestnet Portfolio Solutions Inc. bought a new stake in Docusign in the fourth quarter valued at $300,000. Signaturefd LLC increased its stake in Docusign by 12.2% in the fourth quarter. Signaturefd LLC now owns 1,686 shares of the company's stock valued at $152,000 after purchasing an additional 183 shares in the last quarter. Xponance Inc. increased its stake in Docusign by 45.8% in the fourth quarter. Xponance Inc. now owns 51,709 shares of the company's stock valued at $4,651,000 after purchasing an additional 16,249 shares in the last quarter. Finally, Royal London Asset Management Ltd. increased its stake in Docusign by 5.7% in the fourth quarter. Royal London Asset Management Ltd. now owns 85,080 shares of the company's stock valued at $7,652,000 after purchasing an additional 4,590 shares in the last quarter. Institutional investors own 77.64% of the company's stock.

Docusign Stock Up 2.6%

Shares of DOCU stock traded up $2.04 on Tuesday, hitting $81.38. The stock had a trading volume of 2,104,698 shares, compared to its average volume of 2,892,654. The company has a market cap of $16.44 billion, a PE ratio of 15.38, a P/E/G ratio of 29.61 and a beta of 1.08. The business has a 50 day moving average price of $81.16 and a 200 day moving average price of $83.32. Docusign Inc. has a one year low of $48.80 and a one year high of $107.86.

Docusign (NASDAQ:DOCU - Get Free Report) last released its quarterly earnings data on Thursday, June 5th. The company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.81 by $0.09. Docusign had a return on equity of 14.27% and a net margin of 36.50%. The business had revenue of $763.65 million for the quarter, compared to analyst estimates of $748.79 million. During the same quarter in the prior year, the firm posted $0.82 EPS. The business's quarterly revenue was up 7.6% compared to the same quarter last year. Equities research analysts expect that Docusign Inc. will post 1.17 EPS for the current year.

Docusign announced that its Board of Directors has authorized a stock buyback plan on Thursday, June 5th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to reacquire up to 6.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on DOCU. William Blair reaffirmed an "outperform" rating on shares of Docusign in a report on Monday, April 21st. Hsbc Global Res upgraded shares of Docusign from a "moderate sell" rating to a "hold" rating in a report on Friday, April 11th. JMP Securities restated a "market outperform" rating and issued a $124.00 price objective on shares of Docusign in a report on Tuesday, June 3rd. Wedbush decreased their price target on shares of Docusign from $100.00 to $85.00 and set a "neutral" rating for the company in a research note on Thursday, June 12th. Finally, Wells Fargo & Company upgraded shares of Docusign from an "underweight" rating to an "equal weight" rating and increased their price target for the stock from $67.00 to $80.00 in a research note on Friday, June 13th. Twelve analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $89.77.

Insider Transactions at Docusign

In other Docusign news, CEO Allan C. Thygesen sold 40,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $77.51, for a total transaction of $3,100,400.00. Following the completion of the sale, the chief executive officer owned 143,983 shares in the company, valued at $11,160,122.33. This trade represents a 21.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Blake Jeffrey Grayson sold 15,143 shares of the firm's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $74.80, for a total value of $1,132,696.40. Following the sale, the chief financial officer owned 110,723 shares of the company's stock, valued at approximately $8,282,080.40. This trade represents a 12.03% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 78,552 shares of company stock worth $5,983,631 over the last ninety days. 1.66% of the stock is currently owned by company insiders.

Docusign Profile

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.