5 Best Work-From-Home (WFH) Stocks to Buy Now

3. DocuSign, Inc. (NASDAQ: DOCU)

Number of Hedge Fund Holders: 67

DocuSign, Inc. (NASDAQ: DOCU) is a California-based company that makes it easier for businesses to manage electronic contracts. It was founded in 2003 and is ranked third on our list of 10 best work-from-home (WFH) stocks to buy now. Some of the e-signature products offered by the firm include CLM, Gen, Negotiate, and Insights. DocuSign stock has returned more than 57% to investors in the past year. The firm has a market cap of more than $37 billion and posted more than $1.45 billion in annual revenue last year. 

On March 12, investment advisory Evercore upgraded DocuSign, Inc. (NASDAQ: DOCU) stock to Outperform from In Line with a price target to $285. The company also posted strong quarterly earnings results for the last three months of 2020. 

Out of the hedge funds being tracked by Insider Monkey, Connecticut-based investment firm Lone Pine Capital is a leading shareholder in the firm with 4 million shares worth more than $901 million. 

In its Q3 2020 investor letter, Wasatch Core Growth Fund, an investment management firm,, highlighted a few stocks and DocuSign, Inc. (NASDAQ: DOCU) was one of them.

“We recently liquidated our shares of DocuSign, Inc. (DOCU), which offers e-signature software that enables businesses and individuals to digitally prepare and execute agreements. Utilization of the software spiked during the pandemic and the stock was an excellent performer, propelling the company’s market capitalization to over $40 billion. While we still like the company, the valuation set a higher bar for the future. With the proceeds of our DocuSign sale, we rotated into what we viewed as more reasonably priced names.”