Nasdaq announced that DocuSign (NASDAQ:DOCU) will replace United Airlines (NASDAQ: UAL) in the index effective June 22, 2020 and join its main competitor Adobe Systems ( NASDAQ :ADBE ).

There is a great demand for digital signatures with the for people that need to sign contracts in particular with stay-at-home  orders and social distancing due to COVID-19.

DocuSign’s revenue has increased  37% year-over-year. The stock has more than doubled over the past three months. DocuSign serves 100’s of millions of users worldwide.

Executive Leadership

Dan Springer CEO has almost 30 years of executive leadership and experience driving innovation and hyper-growth across the Software-as-a-Service (SaaS) industry. Prior to DocuSign, Dan served as Chairman and CEO of Responsys (MKTG), where he led the sale of the company to Oracle in 2013 for $1.6 billion.[i]

Maggie Wilderotter Chairman, DocuSign served in a number of roles at Frontier Communications Corp. (NASDAQ: FTR), a public telecommunications company, including as Executive Chairman of the board of directors. Ms. Wilderotter has served on the boards of directors of Costco Wholesale Corp. (NASDAQ: COST), a wholesale retailer, since October 2015; Hewlett Packard Enterprise Co. (NYSE: HPE)[ii]

Top Institutional Holders

Holder   Shares   Date Reported   % Out       Value

Price (T.Rowe) Associates Inc           22,190,162                     Mar 30, 2020           12.09%   2,050,370,968

Vanguard Group, Inc. (The)                   12,993,489                     Mar 30, 2020           7.08%       1,200,598,383

Blackrock Inc.         8,784,785                         Mar 30, 2020           4.79%       811,714,134

Capital Research Global Investors                         6,482,157                         Mar 30, 2020           3.53%       598,951,306

Kayne Anderson Rudnick Investment Management LLC     4,195,647                         Mar 30, 2020           2.29%       387,677,782

Top Mutual Fund Holders

Holder   Shares   Date Reported   % Out       Value

Price (T.Rowe) New Horizons Fund                     7,587,190                         Dec 30, 2019             4.13%       562,286,650

Vanguard Total Stock Market Index Fund                           3,966,166                         Dec 30, 2019             2.16%       293,932,562

Price (T.Rowe) Mid Cap Growth Fund           3,750,000                         Dec 30, 2019             2.04%       277,912,500

Vanguard Small-Cap Index Fund 3,532,015                         Dec 30, 2019             1.92%       261,757,631

Growth Fund of America Inc               3,270,809                         Dec 30, 2019             1.78%       242,399,654

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[i] https://www.docusign.com/company/leadership

[ii] https://www.docusign.com/company/leadership