DOCU DocuSign, Inc. - Common Stock
About DocuSign, Inc. - Common Stock Company overview from Wikipedia
Docusign, Inc. is an American software company headquartered in San Francisco, California that provides products for organizations to manage electronic agreements and contract lifecycle processes with electronic signatures and AI supported data extraction on different devices.
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Docusign, Inc. is an American software company headquartered in San Francisco, California that provides products for organizations to manage electronic agreements and contract lifecycle processes with electronic signatures and AI supported data extraction on different devices.
In April 2018, Docusign filed for an initial public offering. At the time of the IPO, the largest shareholders were venture investment firms Sigma Partners, Ignition Partners, Frazier Technology Ventures, and former CEO Keith Krach was the largest individual shareholder. None of the original founders are major shareholders. The company went public on the Nasdaq on April 27, 2018.
History
Docusign was founded in 2003 by Court Lorenzini, Tom Gonser, and Eric Ranft. Tom Gonser came up with the idea when he was CEO of NetUpdate, a company he founded in 1998. Throughout its history, NetUpdate had acquired several companies, including an e-signature start-up in Seattle called DocuTouch, funded by Timberline Venture Partners, Bill Kallman, and Jeff Tung with $4M. Timberline invested another $1 million in the merger into NetUpdate. DocuTouch held patents on Web-based digital signatures and collaboration. With internal support from Gonser, Lorenzini negotiated the purchase of certain DocuTouch assets from NetUpdate and started Docusign. Gonser then left the NetUpdate Board to focus on Docusign full-time.
The firm began sales in 2005 when zipForm, now zipLogix, integrated Docusign into its virtual real estate forms. According to Docusign, mock trials featuring licensed attorneys and judges highlighted the admissibility of Docusign contracts in court based on encrypted audit logs of signature events, and the impossibility of changing contracts.
In January 2007, Court Lorenzini stepped down as CEO and board chairman and was replaced as CEO by Matthew Schiltz, who served in that role until January 2010. Steven King replaced Schultz as CEO and moved the corporate headquarters from Seattle to San Francisco. Keith Krach became Docusign's board chairman in January 2010 and its CEO in August 2011.
Docusign began referring to its service as "eSignature Transaction Management". By the end of 2010, the company had handled 73 percent of the SaaS-based electronic signature market, with 80 million signatures processed. Scale Venture Partners led an investment round of $27 million in December 2010.
Docusign opened an office in London, England, in September 2011. In the same year, Docusign opened an office in San Francisco that now functions as its global headquarters.
Docusign signed an agreement with PayPal in April 2012 that allowed users to capture signatures and payments in a single transaction. Similar partnerships with Salesforce and Google Drive preceded the PayPal agreement.
On January 10, 2013, Docusign and Equifax announced a partnership to simplify electronic delivery of the Requests for Transcript of Tax Return Form 4506-T to the United States Internal Revenue Service. Under the partnership, Equifax allows lenders to use Docusign to securely send requests to loan applicants. Docusign and Equifax were among 14 firms that participated in a nine-month feasibility study of electronic signatures for 4506-T forms in 2011.
In October 2015, Keith Krach announced he would step down as CEO once a search for a new CEO was completed.
In January 2017, veteran software executive Daniel Springer was named the new CEO.
Docusign ranked number 6 on Fast Company's Most Innovative Enterprise Tech Companies of 2022, with an overall market share of 61%.
On June 21, 2022, Daniel Springer was replaced as CEO by Mary Agnes "Maggie" Wilderotter, and later Allan Thygesen as CEO on September 22, 2022. Thygesen assumed office on October 10.
In April 2024, the company announced a significant expansion of its company strategy, opening up a new SaaS category — Intelligent Agreement Management — and launching Docusign IAM, an Intelligent Agreement Management platform and new line-of-business-focused applications to lead that category.
Funding
In 2004, Docusign raised $4.6 million from Ignition Partners and Frazier Technology Ventures. In 2006, Sigma Partners became the largest shareholder, a position it held at the time of the IPO, with returns over $700 million. Between 2006 and 2009 Docusign raised $30 million that allowed the firm to add corporate clients and process 48 million signatures.
In July 2012, Docusign raised $47.5 million in venture funding from investors including Kleiner Perkins Caufield & Byers; the round later grew closer to $56 million. In March 2014, the company announced it had raised $85 million in a new funding round. Though unconfirmed, The Wall Street Journal reported the round was based on a company valuation of $1.6 billion.
In May 2015, the company announced it had raised $233 million in a new funding round, with some estimating a $3 billion company valuation.
In 2018, the company announced plans for an initial public offering on the Nasdaq. The IPO was completed on April 27, in which the company raised $543 million. Neither the original founders nor CEO Daniel Springer were major shareholders at that time. Former CEO Keith Krach was the largest individual shareholder at 5.5%, about 8.5 million shares at the time of the IPO. Venture capital firms Sigma Partners, Ignition Partners, and now-defunct company Frazier Technology Ventures were the largest non-individual shareholders.
Acquisitions
In May 2013, Docusign acquired Cartavi, a Naperville-based startup that made real estate software. This was later converted into Docusign Rooms and the base API for Docusign Workspaces.
In July 2018, Docusign acquired SpringCM for $220 million.
In February 2020, Docusign acquired Seal Software for $188 million.
On June 1, 2021, DocuSign acquired Clause, a legal contract technology startup.
In May 2024 the company acquired Lexion, an AI contract management company, for a reported $165 million.
Products
Docusign's services are offered either by subscription or through a mobile app. Docusign released the mobile app in November 2011.
Docusign Professional emails recipients an electronically signed document requesting review of a document after it is uploaded. Each party must agree to complete business electronically, review the document, and apply a signature. Signatures may be added from a stored copy of a signature or generated automatically by the software. Phone confirmation and background checks are offered as premium services.
Litigation
In a 2016 case, it was found that a lawyer in Sacramento who had exclusively been using Docusign signatures had the signatures rendered invalid due to the legal requirements of a physical signature known as a wet signature.
A class action lawsuit began against Docusign in 2022 regarding their conduct from 2020-2021 that alleged the company misled investors and shareholders with false reporting. According to the initial complaint, Docusign "failed to disclose the role the COVID-19 pandemic had on its growth, including the positive impact on Docusign's business. [Docusign] also downplayed the impact that a 'return to normal' would have on the Company's growth and business."
In 2023, the company's former CEO Daniel Springer filed a lawsuit against Docusign. While the company claimed that Springer had resigned, his lawsuit alleged that the resignation was fabricated.
Docusign IMPACT Foundation
On 15 March 2015, CEO Keith Krach announced the formation of the $30 million Docusign IMPACT Foundation, a philanthropy department of the company to donate to charities.
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
DOCU Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
DOCU Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
10-Year Performance Revenue, net income, margins and EPS trends
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Financial Health Debt, liquidity, solvency — balance sheet strength
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
DOCU Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
- Strong Buy 4 13.8%
- Buy 5 17.2%
- Hold 19 65.5%
- Sell 1 3.4%
- Strong Sell 0 0.0%
12-Month Price Target
18 analysts · 2026-08-14Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| March 31, 2027 | $1.09 | $1.01 | — |
| June 30, 2026 | $1.09 | $1.01 | 0.08% |
| March 31, 2026 | $1.01 | $0.97 | 0.04% |
| Dec. 31, 2025 | $1.01 | $0.93 | 0.08% |
| Sept. 30, 2025 | $0.92 | $0.86 | 0.06% |
| June 30, 2025 | $0.90 | $0.83 | 0.07% |
| March 31, 2025 | $0.86 | $0.87 | -0.01% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| DOCU | $10.45B | 35.7 | 8.2% | 9.6% | 15.8% | 79.4% |
| TRMB | $18.49B | 44.5 | -2.6% | 11.8% | 7.4% | 69.1% |
| BMNR | $10M | 3.3 | 84.1% | 5719.1% | 8.0% | — |
| AUR | — | — | — | — | — | — |
| HUBS | $21.09B | 466.6 | 19.2% | 1.5% | 2.2% | 83.8% |
| MANH | $10.37B | 48.1 | 3.8% | 20.3% | 74.1% | — |
| SAIL | $9.16B | -30.1 | 24.3% | -25.2% | -4.0% | 64.5% |
| BSY | $11.54B | 44.9 | 11.0% | 18.5% | 24.9% | 81.5% |
| HUT | $5.06B | -21.5 | 44.8% | -96.2% | -18.9% | — |
| PCOR | $11.04B | -108.6 | 14.8% | -7.6% | -8.1% | 79.5% |
| PLTR | $425.03B | 282.1 | 56.2% | 36.3% | 26.2% | 82.4% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 17
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.22B | $2.98B | $2.76B | $2.52B | $2.11B | $1.45B | $974M | $701M | $519M | |
| Cost of Revenue | $663M | $622M | $573M | $536M | $466M | $364M | $243M | $192M | $118M | |
| Gross Profit | $2.56B | $2.36B | $2.19B | $1.98B | $1.64B | $1.09B | $731M | $509M | $400M | |
| R&D Expense | $665M | $588M | $539M | $481M | $393M | $272M | $186M | $186M | $92M | |
| SG&A Expense | $389M | $376M | $420M | $316M | $233M | $193M | $147M | $209M | $82M | |
| Operating Expenses | $2.26B | $2.16B | $2.16B | $2.07B | $1.70B | $1.26B | $924M | $935M | $452M | |
| Operating Income | $299M | $200M | $32M | $-88M | $-62M | $-174M | $-194M | $-426M | $-52M | |
| Interest Expense | · | · | $7M | $6M | $6M | $31M | $29M | $11M | $624.0K | |
| Other Non-op | $51M | $50M | $69M | $5M | $1M | $9M | $19M | $9M | $3M | |
| Pretax Income | $347M | $248M | $94M | $-90M | $-67M | $-229M | $-204M | $-428M | $-49M | |
| Income Tax | $38M | $-820M | $20M | $8M | $3M | $14M | $5M | $-2M | $3M | |
| Net Income | $309M | $1.07B | $74M | $-97M | $-70M | $-243M | $-208M | $-426M | $-52M | |
| EPS (Basic) | $1.53 | $5.23 | $0.36 | $-0.49 | $-0.36 | $-1.31 | $-1.18 | · | · | |
| EPS (Diluted) | $1.48 | $5.08 | $0.36 | $-0.49 | $-0.36 | $-1.31 | $-1.18 | · | · | |
| Shares (Basic) | 202,079,000 | 204,329,000 | 204,070,000 | 200,903,000 | 196,675,000 | 185,760,000 | 176,704,000 | · | · | |
| Shares (Diluted) | 209,118,000 | 210,339,000 | 208,950,000 | 200,903,000 | 196,675,000 | 185,760,000 | 176,704,000 | · | · | |
| EBITDA | $415M | $308M | $127M | $-2M | $20M | $-103M | $-143M | $-388M | · |
Balance Sheet 25
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $602M | $649M | $797M | $722M | $509M | $566M | $241M | $518M | $257M | |
| Receivables | $516M | $430M | $439M | $517M | $441M | $324M | $238M | $175M | $124M | |
| Prepaid Expense | $97M | $82M | $67M | $70M | $63M | $48M | $37M | $30M | $23M | |
| Other Current Assets | · | · | · | · | · | · | $13M | $12M | $7M | |
| Current Assets | $1.49B | $1.49B | $1.57B | $1.63B | $1.32B | $1.16B | $944M | $985M | $419M | |
| PP&E (Net) | $362M | $299M | $245M | $200M | $185M | $165M | $128M | $76M | $63M | |
| Goodwill | $458M | $454M | $353M | $354M | $355M | $350M | $195M | $195M | $37M | |
| Intangibles | $61M | $76M | $51M | $70M | $99M | $122M | $56M | $74M | $14M | |
| Other Non-current Assets | $173M | $142M | $98M | $79M | $50M | $25M | $25M | $9M | $11M | |
| Total Assets | $4.23B | $4.01B | $2.97B | $3.01B | $2.54B | $2.34B | $1.89B | $1.62B | $620M | |
| Accounts Payable | $17M | $31M | $19M | $24M | $53M | $37M | $28M | $20M | $24M | |
| Accrued Liabilities | $113M | $100M | $104M | $101M | $91M | $67M | $54M | $22M | $16M | |
| Current Liabilities | $2.04B | $1.83B | $1.66B | $2.21B | $1.37B | $1.09B | $694M | $516M | $374M | |
| Capital Leases | $168M | $105M | $121M | $141M | $126M | $166M | $162M | $0 | · | |
| Deferred Tax | $22M | $21M | $17M | $11M | $9M | $6M | $5M | $4M | $3M | |
| Other Non-current Liabilities | $52M | $31M | $21M | $18M | $23M | $32M | $7M | $10M | $4M | |
| Total Liabilities | $2.31B | $2.01B | $1.84B | $2.40B | $2.27B | $2.01B | $1.34B | $1.00B | $411M | |
| Common Stock | $20.0K | $20.0K | $21.0K | $20.0K | $20.0K | $19.0K | $18.0K | $17.0K | $4.0K | |
| Paid-in Capital | $3.78B | $3.32B | $2.82B | $2.24B | $1.72B | $1.70B | $1.69B | $1.55B | $160M | |
| Retained Earnings | $-1.86B | $-1.29B | $-1.67B | $-1.60B | $-1.44B | $-1.38B | $-1.14B | $-929M | $-502M | |
| Treasury Stock | $0 | $3M | $2M | $2M | $2M | $1M | $0 | · | · | |
| AOCI | $-4M | $-28M | $-19M | $-23M | $-5M | $5M | $-2M | $-2M | $3M | |
| Stockholders' Equity | $1.92B | $2.00B | $1.13B | $617M | $276M | $326M | $546M | $614M | $-339M | |
| Liabilities + Equity | $4.23B | $4.01B | $2.97B | $3.01B | $2.54B | $2.34B | $1.89B | $1.62B | $620M | |
| Shares Outstanding | 197,765,000 | 202,477,000 | 205,326,000 | 201,904,000 | 198,834,000 | 192,807,000 | 181,254,000 | 169,303,000 | 35,700,000 |
Cash Flow 15
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $116M | $108M | $95M | $86M | $82M | $71M | $50M | $38M | $32M | |
| Deferred Tax | $4M | $-839M | $6M | $2M | $694.0K | $-2M | $1M | $-5M | $-996.0K | |
| Amort. of Intangibles | $16M | $25M | $19M | $21M | $25M | $26M | $18M | $13M | $10M | |
| Restructuring | $0 | $30M | $30M | $28M | $0 | $0 | · | · | · | |
| Other Non-cash | $735M | $680M | $804M | $516M | $493M | $472M | $273M | $470M | · | |
| Operating Cash Flow | $1.17B | $1.02B | $980M | $507M | $506M | $297M | $116M | $76M | $55M | |
| CapEx | $106M | $97M | $92M | $78M | $61M | $82M | $72M | $30M | $19M | |
| Investing Cash Flow | $-127M | $-313M | $45M | $-191M | $-163M | $81M | $-321M | $-664M | $-19M | |
| Stock Repurchased | $869M | $684M | $146M | $63M | $0 | $0 | · | · | · | |
| Net Stock Activity | $-869M | $-684M | $-146M | $-63M | · | · | · | · | · | |
| Financing Cash Flow | $-1.10B | $-839M | $-946M | $-98M | $-395M | $-59M | $-70M | $853M | $26M | |
| Net Change in Cash | $-41M | $-142M | $78M | $214M | $-57M | $325M | $-277M | $261M | $66M | |
| Taxes Paid | $13M | $24M | $10M | $10M | $7M | $4M | $2M | $3M | $617.0K | |
| Free Cash Flow | $1.06B | $920M | $887M | $429M | $445M | $215M | $44M | $46M | · | |
| Levered FCF | · | · | $882M | $422M | $438M | $182M | $14M | $35M | · |
Profitability 8
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 79.4% | 79.1% | 79.3% | 78.7% | 77.9% | 75.0% | 75.0% | 72.5% | · | |
| Operating Margin | 9.3% | 6.7% | 1.1% | -3.5% | -2.9% | -12.0% | -19.9% | -60.8% | · | |
| Net Margin | 9.6% | 35.9% | 2.7% | -3.9% | -3.3% | -16.7% | -21.4% | -60.8% | · | |
| Pretax Margin | 10.8% | 8.3% | 3.4% | -3.6% | -3.2% | -15.8% | -20.9% | -61.1% | · | |
| EBITDA Margin | 12.9% | 10.3% | 4.6% | -0.07% | 0.95% | -7.1% | -14.7% | -55.4% | · | |
| ROA | 7.5% | 30.6% | 2.5% | -3.5% | -2.9% | -11.5% | -11.9% | -38.2% | · | |
| ROE | 15.8% | 53.5% | 7.1% | -17.9% | -27.2% | -64.7% | -37.4% | -59.9% | · | |
| ROIC | 13.9% | 43.0% | 2.2% | -15.5% | -23.5% | -56.6% | -36.3% | -69.1% | · |
Liquidity & Solvency 3
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.7 | 0.8 | 0.9 | 0.7 | 1.0 | 1.1 | 1.4 | 1.9 | · | |
| Quick Ratio | 0.5 | 0.6 | 0.7 | 0.6 | 0.7 | 0.8 | 0.7 | 1.3 | · | |
| Interest Coverage | · | · | 4.6 | -13.8 | -9.6 | -5.6 | -6.6 | -39.3 | · |
Efficiency 2
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.8 | 0.9 | 0.9 | 0.9 | 0.9 | 0.7 | 0.6 | 0.6 | · | |
| Receivables Turnover | 6.8 | 6.9 | 5.8 | 5.3 | 5.5 | 5.2 | 4.7 | 4.7 | · |
Growth Rates 5
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 8.2% | 7.8% | 9.8% | 19.4% | 45.0% | · | · | · | · | |
| Revenue CAGR 3Y | 8.6% | 12.2% | 23.9% | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 17.2% | · | · | · | · | · | · | · | · | |
| EPS YoY | -70.9% | 1311.1% | · | · | · | · | · | · | · | |
| Net Income YoY | -71.1% | 1343.5% | · | · | · | · | · | · | · |
Valuation (TTM) 10
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $3.22B | $2.98B | $2.76B | $2.52B | $2.11B | $1.45B | $974M | $701M | · | |
| Net Income TTM | $309M | $1.07B | $74M | $-97M | $-70M | $-243M | $-208M | $-426M | · | |
| Market Cap | $10.45B | $19.59B | $12.51B | $12.24B | $25.01B | $44.90B | $14.23B | $8.37B | · | |
| P/E | 35.7 | 19.0 | 169.2 | -123.8 | -349.4 | -177.8 | -66.5 | · | · | |
| P/S | 3.2 | 6.6 | 4.5 | 4.9 | 11.9 | 30.9 | 14.6 | 11.9 | · | |
| P/B | 5.4 | 9.8 | 11.1 | 19.8 | 90.8 | 137.8 | 26.0 | 13.6 | · | |
| P / Tangible Book | 7.5 | 13.3 | 17.2 | 63.3 | · | · | · | · | · | |
| P / Cash Flow | 9.0 | 19.3 | 12.8 | 24.2 | 49.4 | 151.2 | 123.0 | 110.0 | · | |
| P / FCF | 9.9 | 21.3 | 14.1 | 28.5 | 56.2 | 209.3 | 326.0 | 183.3 | · | |
| Earnings Yield | 2.8% | 5.2% | 0.59% | -0.81% | -0.29% | -0.56% | -1.5% | · | · |
Income Statement 17
| Metric | Trend | Q1 2027 | Q4 2026 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $830M | $837M | $818M | $801M | $764M | $776M | $755M | $736M | $710M | $712M | $700M | $688M | $661M | $660M | $645M | $622M | |
| Cost of Revenue | $171M | $170M | $171M | $165M | $157M | $160M | $157M | $155M | $149M | $148M | $143M | $146M | $136M | $137M | $130M | $137M | |
| Gross Profit | $659M | $667M | $648M | $635M | $606M | $616M | $598M | $581M | $560M | $564M | $558M | $542M | $525M | $522M | $516M | $485M | |
| R&D Expense | $160M | $168M | $168M | $170M | $159M | $155M | $151M | $148M | $134M | $152M | $137M | $136M | $115M | $126M | $116M | $127M | |
| SG&A Expense | $92M | $106M | $98M | $95M | $90M | $99M | $98M | $87M | $92M | $103M | $108M | $104M | $105M | $92M | $86M | $76M | |
| Operating Expenses | $548M | $579M | $562M | $570M | $546M | $556M | $539M | $523M | $538M | $555M | $538M | $535M | $530M | $522M | $543M | $527M | |
| Operating Income | $111M | $88M | $85M | $65M | $60M | $60M | $59M | $58M | $23M | $10M | $20M | $7M | $-5M | $-284.0K | $-27M | $-41M | |
| Interest Expense | · | · | · | · | · | · | · | · | $144.0K | · | $2M | $2M | $2M | · | $1M | $2M | |
| Other Non-op | $7M | $14M | $11M | $12M | $14M | $8M | $13M | $15M | $14M | $22M | $18M | $17M | $12M | $7M | $820.0K | $1M | |
| Pretax Income | $118M | $102M | $96M | $76M | $74M | $68M | $72M | $72M | $37M | $30M | $36M | $22M | $6M | $5M | $-28M | $-42M | |
| Income Tax | $40M | $11M | $12M | $13M | $2M | $-16M | $9M | $-816M | $3M | $3M | $-3M | $15M | $5M | $567.0K | $2M | $3M | |
| Net Income | $78M | $90M | $84M | $63M | $72M | $83M | $62M | $888M | $34M | $27M | $39M | $7M | $539.0K | $5M | $-30M | $-45M | |
| EPS (Basic) | $0.40 | $0.46 | $0.41 | $0.31 | $0.35 | $0.42 | $0.31 | $4.34 | $0.16 | $0.13 | $0.19 | $0.04 | $0.00 | $0.02 | $-0.15 | $-0.22 | |
| EPS (Diluted) | $0.40 | $0.44 | $0.40 | $0.30 | $0.34 | $0.36 | $0.30 | $4.26 | $0.16 | $0.13 | $0.19 | $0.04 | $0.00 | $0.02 | $-0.15 | $-0.22 | |
| Shares (Basic) | 195,489,000 | -405,799,000 | 201,954,000 | 202,644,000 | 203,280,000 | -409,712,000 | 203,567,000 | 204,604,000 | 205,870,000 | -406,720,000 | 204,456,000 | 203,703,000 | 202,631,000 | -400,774,000 | 201,393,000 | 200,618,000 | |
| Shares (Diluted) | 196,480,000 | -422,719,000 | 208,069,000 | 210,956,000 | 212,812,000 | -416,537,000 | 208,706,000 | 208,274,000 | 209,896,000 | -415,367,000 | 208,054,000 | 208,192,000 | 208,071,000 | -400,774,000 | 201,393,000 | 200,618,000 | |
| EBITDA | $144M | · | $85M | $65M | $91M | · | $59M | $58M | $47M | · | $20M | $7M | $18M | · | $-27M | $-41M |
Balance Sheet 24
| Metric | Trend | Q1 2027 | Q4 2026 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $548M | $602M | $583M | $600M | $657M | $649M | $611M | $619M | $817M | $797M | $1.19B | $1.02B | $940M | $722M | $633M | $637M | |
| Receivables | $301M | $516M | $355M | $357M | $308M | $430M | $300M | $310M | $306M | · | $360M | $415M | $409M | · | $423M | $340M | |
| Prepaid Expense | $133M | $97M | $103M | $108M | $111M | $82M | $75M | $82M | $85M | · | $73M | $81M | $87M | · | $69M | $79M | |
| Current Assets | $1.26B | $1.49B | $1.31B | $1.32B | $1.38B | $1.49B | $1.33B | $1.34B | $1.49B | · | $2.04B | $1.96B | $1.80B | · | $1.48B | $1.42B | |
| PP&E (Net) | $388M | $362M | $344M | $328M | $310M | $299M | $279M | $266M | $256M | · | $231M | $221M | $206M | · | $196M | $186M | |
| Goodwill | $459M | $458M | $457M | $456M | $455M | $454M | $456M | $456M | $352M | $353M | $351M | $353M | $353M | $354M | $352M | $353M | |
| Intangibles | $57M | $61M | $61M | $65M | $69M | $76M | $83M | $90M | $46M | · | $56M | $60M | $65M | · | $75M | $81M | |
| Other Non-current Assets | $181M | $173M | $170M | $164M | $153M | $142M | $132M | $129M | $108M | · | $92M | $90M | $86M | · | $76M | $67M | |
| Total Assets | $3.98B | $4.23B | $3.98B | $3.95B | $3.95B | $4.01B | $3.77B | $3.75B | $2.93B | · | $3.34B | $3.27B | $3.13B | · | $2.73B | $2.67B | |
| Accounts Payable | $24M | $17M | $22M | $11M | $25M | $31M | $18M | $8M | $18M | · | $15M | $6M | $15M | · | $47M | $44M | |
| Accrued Liabilities | $108M | $113M | $120M | $101M | $101M | $100M | $95M | $93M | $99M | · | $100M | $109M | $102M | · | $96M | $91M | |
| Current Liabilities | $1.89B | $2.04B | $1.78B | $1.78B | $1.74B | $1.83B | $1.60B | $1.61B | $1.60B | · | $2.19B | $2.23B | $2.20B | · | $1.45B | $1.40B | |
| Capital Leases | $167M | $168M | $135M | $106M | $111M | $105M | $111M | $116M | $117M | · | $125M | $131M | $136M | · | $81M | $90M | |
| Deferred Tax | $24M | $22M | $18M | $19M | $22M | $21M | $19M | $18M | $18M | · | $17M | $14M | $12M | · | $10M | $10M | |
| Other Non-current Liabilities | $54M | $52M | $36M | $33M | $33M | $31M | $29M | $28M | $25M | · | $20M | $19M | $19M | · | $22M | $22M | |
| Total Liabilities | $2.16B | $2.31B | $2.00B | $1.96B | $1.93B | $2.01B | $1.78B | $1.79B | $1.79B | · | $2.37B | $2.42B | $2.38B | · | $2.26B | $2.26B | |
| Common Stock | $19.0K | $20.0K | $20.0K | $20.0K | $20.0K | $20.0K | $20.0K | $20.0K | $20.0K | · | $20.0K | $20.0K | $20.0K | · | $20.0K | $20.0K | |
| Paid-in Capital | $3.92B | $3.78B | $3.67B | $3.54B | $3.44B | $3.32B | $3.23B | $3.09B | $2.95B | · | $2.69B | $2.53B | $2.41B | · | $2.11B | $1.97B | |
| Retained Earnings | $-2.10B | $-1.86B | $-1.67B | $-1.54B | $-1.40B | $-1.29B | $-1.21B | $-1.10B | $-1.79B | · | $-1.70B | $-1.66B | $-1.64B | · | $-1.60B | $-1.54B | |
| Treasury Stock | · | $0 | $3M | $3M | $3M | $3M | $3M | $3M | $3M | · | $2M | $2M | $2M | · | $2M | $2M | |
| AOCI | $-4M | $-4M | $-12M | $-16M | $-18M | $-28M | $-24M | $-25M | $-25M | · | $-28M | $-20M | $-22M | · | $-34M | $-24M | |
| Stockholders' Equity | $1.82B | $1.92B | $1.98B | $1.99B | $2.01B | $2.00B | $1.99B | $1.96B | $1.14B | $1.13B | $965M | $848M | $749M | $617M | $469M | $407M | |
| Liabilities + Equity | $3.98B | $4.23B | $3.98B | $3.95B | $3.95B | $4.01B | $3.77B | $3.75B | $2.93B | · | $3.34B | $3.27B | $3.13B | · | $2.73B | $2.67B | |
| Shares Outstanding | 193,057,000 | 197,765,000 | 200,297,000 | 201,098,000 | 202,034,000 | 202,477,000 | 202,000,000 | 202,296,000 | 204,701,000 | 205,326,000 | 203,922,000 | 203,197,000 | 202,359,000 | 201,904,000 | 201,069,000 | 200,771,000 |
Cash Flow 15
| Metric | Trend | Q1 2027 | Q4 2026 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $32M | $26M | $30M | $29M | $30M | $29M | $28M | $27M | $25M | $24M | $23M | $25M | $23M | $22M | $22M | $21M | |
| Deferred Tax | · | · | · | · | · | · | · | · | · | $-948.0K | $4M | $2M | $2M | $-1M | $-23.0K | $3M | |
| Amort. of Intangibles | · | · | · | · | · | $7M | $7M | $6M | · | $5M | $5M | $5M | · | · | · | · | |
| Restructuring | · | $0 | $0 | $0 | $0 | $0 | $0 | $597.0K | $29M | $88.0K | $710.0K | $811.0K | $29M | $253.0K | $28M | $0 | |
| Other Non-cash | $211M | · | · | · | $149M | · | · | · | $197M | · | · | · | $209M | · | · | · | |
| Operating Cash Flow | $322M | $377M | $290M | $246M | $251M | $308M | $234M | $220M | $255M | $271M | $264M | $211M | $234M | $137M | $53M | $121M | |
| CapEx | $32M | $27M | $27M | $28M | $24M | $28M | $24M | $22M | $23M | $22M | $24M | $27M | $19M | $24M | $16M | $15M | |
| Investing Cash Flow | $-39M | $-34M | $-38M | $-30M | $-25M | $-32M | $-44M | $-176M | $-61M | $67M | $34M | $-65M | $8M | $-44M | $-2M | $-83M | |
| Stock Repurchased | $318M | $269M | $215M | $202M | $183M | $162M | $173M | $200M | $149M | $0 | $75M | $30M | $40M | $0 | $38M | $25M | |
| Net Stock Activity | $-318M | · | · | · | $-183M | · | · | · | $-149M | · | · | · | $-40M | · | · | · | |
| Financing Cash Flow | $-334M | $-333M | $-270M | $-273M | $-224M | $-232M | $-198M | $-239M | $-170M | $-735M | $-121M | $-69M | $-21M | $-16M | $-49M | $-35M | |
| Net Change in Cash | $-52M | $18M | $-16M | $-56M | $13M | $39M | $-7M | $-195M | $21M | $-392M | $171M | $78M | $222M | $89M | $-4M | $-772.0K | |
| Taxes Paid | $3M | $4M | $3M | $3M | $2M | $7M | $4M | $9M | $4M | $2M | $3M | $5M | $765.0K | $5M | $2M | $2M | |
| Free Cash Flow | $289M | · | · | · | $228M | · | · | · | $232M | · | · | · | $215M | · | · | · | |
| Levered FCF | · | · | · | · | · | · | · | · | $232M | · | · | · | $214M | · | · | · |
Profitability 8
| Metric | Trend | Q1 2027 | Q4 2026 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 79.4% | · | 79.2% | 79.3% | 79.4% | · | 79.3% | 78.9% | 78.9% | · | 79.6% | 78.8% | 79.4% | · | 79.9% | 78.0% | |
| Operating Margin | 13.4% | · | 10.4% | 8.2% | 7.9% | · | 7.8% | 7.8% | 3.2% | · | 2.8% | 0.96% | -0.70% | · | -4.2% | -6.6% | |
| Net Margin | 9.4% | · | 10.2% | 7.9% | 9.4% | · | 8.3% | 120.7% | 4.8% | · | 5.5% | 1.1% | 0.08% | · | -4.6% | -7.2% | |
| Pretax Margin | 14.2% | · | 11.7% | 9.6% | 9.7% | · | 9.5% | 9.8% | 5.2% | · | 5.1% | 3.3% | 0.85% | · | -4.3% | -6.7% | |
| EBITDA Margin | 17.3% | · | 10.4% | 8.2% | 11.9% | · | 7.8% | 7.8% | 6.6% | · | 2.8% | 0.96% | 2.8% | · | -4.2% | -6.6% | |
| ROA | 2.0% | · | 2.2% | 1.6% | 2.1% | · | 1.8% | 25.3% | 1.1% | · | 1.3% | 0.25% | 0.02% | · | -1.2% | -1.8% | |
| ROE | 4.1% | · | 4.2% | 3.2% | 4.6% | · | 4.2% | 63.2% | 3.6% | · | 5.4% | 1.2% | 0.10% | · | -8.4% | -14.6% | |
| ROIC | 4.1% | · | 3.8% | 2.7% | 2.9% | · | 2.6% | 36.4% | 1.8% | · | 2.2% | 0.26% | -0.06% | · | -6.2% | -10.9% |
Liquidity & Solvency 3
| Metric | Trend | Q1 2027 | Q4 2026 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.7 | · | 0.7 | 0.7 | 0.8 | · | 0.8 | 0.8 | 0.9 | · | 0.9 | 0.9 | 0.8 | · | 1.0 | 1.0 | |
| Quick Ratio | 0.4 | · | 0.5 | 0.5 | 0.6 | · | 0.6 | 0.6 | 0.7 | · | 0.7 | 0.6 | 0.6 | · | 0.7 | 0.7 | |
| Interest Coverage | · | · | · | · | · | · | · | · | 157.1 | · | 12.5 | 4.2 | -2.4 | · | -18.8 | -25.2 |
Efficiency 2
| Metric | Trend | Q1 2027 | Q4 2026 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.2 | · | 0.2 | 0.2 | 0.2 | · | 0.2 | 0.2 | 0.2 | · | 0.2 | 0.2 | 0.2 | · | 0.3 | 0.2 | |
| Receivables Turnover | 2.7 | · | 2.5 | 2.4 | 2.5 | · | 2.3 | 2.0 | 2.0 | · | 1.8 | 1.8 | 1.9 | · | 1.8 | 2.0 |
Valuation (TTM) 10
| Metric | Trend | Q1 2027 | Q4 2026 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $3.21B | · | $3.14B | $3.06B | $2.96B | · | $2.90B | $2.83B | $2.76B | · | $2.69B | $2.62B | $2.52B | · | $2.40B | $2.27B | |
| Net Income TTM | $297M | · | $281M | $1.09B | $1.06B | · | $1.02B | $968M | $80M | · | $17M | $-67M | $-102M | · | $-108M | $-104M | |
| Market Cap | $8.88B | · | $14.65B | $15.21B | $16.52B | · | $14.01B | $11.22B | $11.59B | · | $7.93B | $10.94B | $10.00B | · | $9.71B | $12.85B | |
| P/E | 31.9 | · | 54.6 | 14.5 | 16.2 | · | 14.1 | 11.9 | 145.1 | · | 486.0 | -163.1 | -96.9 | · | -89.4 | -123.0 | |
| P/S | 2.8 | · | 4.7 | 5.0 | 5.6 | · | 4.8 | 4.0 | 4.2 | · | 2.9 | 4.2 | 4.0 | · | 4.0 | 5.7 | |
| P/B | 4.9 | · | 7.4 | 7.7 | 8.2 | · | 7.0 | 5.7 | 10.2 | · | 8.2 | 12.9 | 13.3 | · | 20.7 | 31.6 | |
| P / Tangible Book | 6.8 | · | 10.0 | 10.4 | 11.1 | · | 9.7 | 7.9 | 15.7 | · | 14.2 | 25.2 | 30.2 | · | 237.7 | · | |
| P / Cash Flow | 27.6 | · | · | · | 65.7 | · | · | · | 45.5 | · | · | · | 42.8 | · | · | · | |
| P / FCF | 30.7 | · | · | · | 72.5 | · | · | · | 49.9 | · | · | · | 46.6 | · | · | · | |
| Earnings Yield | 3.1% | · | 1.8% | 6.9% | 6.2% | · | 7.1% | 8.4% | 0.69% | · | 0.21% | -0.61% | -1.0% | · | -1.1% | -0.81% |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2026-01-31 | 2025-01-31 | 2024-01-31 | 2023-01-31 | 2022-01-31 | |
|---|---|---|---|---|---|
| Revenue | $3.22B | $2.98B | $2.76B | $2.52B | $2.11B |
| Gross Margin % | 79.4% | 79.1% | 79.3% | 78.7% | 77.9% |
| Operating Margin % | 9.3% | 6.7% | 1.1% | -3.5% | -2.9% |
| Net Income | $309M | $1.07B | $74M | $-97M | $-70M |
| Diluted EPS | $1.48 | $5.08 | $0.36 | $-0.49 | $-0.36 |
Balance Sheet
| 2026-01-31 | 2025-01-31 | 2024-01-31 | 2023-01-31 | 2022-01-31 | |
|---|---|---|---|---|---|
| Current Ratio | 0.7 | 0.8 | 0.9 | 0.7 | 1.0 |
| Quick Ratio | 0.5 | 0.6 | 0.7 | 0.6 | 0.7 |
Cash Flow
| 2026-01-31 | 2025-01-31 | 2024-01-31 | 2023-01-31 | 2022-01-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $1.06B | $920M | $887M | $429M | $445M |
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Trading Signals Recent buy/sell signals with entry price and risk/reward ratio
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Institutional owners (13F) 762 filers · $5.2B total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 94 (-30 vs prior Q) | 110 (-50 vs prior Q) | 243 (-22 vs prior Q) | 238 (-8 vs prior Q) | -3.7M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| VANGUARD PORTFOLIO MANAGEMENT LLC | $515,018,006 | 11,594,282 | 9.97% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $389,591,918 | 8,770,642 | 7.54% | Shares |
| Capital World Investors | $313,409,796 | 7,055,601 | 6.07% | Shares |
| STATE STREET CORP | $279,093,925 | 6,283,069 | 5.40% | Shares |
| AMERIPRISE FINANCIAL INC | $254,931,100 | 5,737,835 | 4.94% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $247,909,664 | 5,581,037 | 4.80% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $150,210,475 | 3,343,230 | 2.91% | Shares |
| TWO SIGMA INVESTMENTS, LP | $146,653,030 | 3,301,509 | 2.84% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $136,594,210 | 3,075,061 | 2.64% | Shares |
| PeakShares LLC | $111,050,000 | 2,500 | 2.15% | Shares |
| NORGES BANK | $108,654,696 | 2,446,076 | 2.10% | Shares |
| JACOBS LEVY EQUITY MANAGEMENT, INC | $90,790,438 | 2,043,909 | 1.76% | Shares |
| FMR LLC | $84,224,185 | 1,896,087 | 1.63% | Shares |
| AMERICAN CENTURY COMPANIES INC | $81,330,307 | 1,830,932 | 1.57% | Shares |
| Quantinno Capital Management LP | $77,022,450 | 1,733,958 | 1.49% | Shares |
| Qube Research & Technologies Ltd | $67,618,700 | 1,522,258 | 1.31% | Shares |
| Robeco Institutional Asset Management B.V. | $66,254,786 | 1,491,553 | 1.28% | Shares |
| ROYAL BANK OF CANADA | $63,747,000 | 1,435,105 | 1.23% | Shares |
| CAPITAL FUND MANAGEMENT S.A. | $57,872,241 | 1,302,842 | 1.12% | Shares |
| VICTORY CAPITAL MANAGEMENT INC | $56,942,753 | 1,281,917 | 1.10% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $54,694,035 | 1,231,293 | 1.06% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $53,280,902 | 1,199,480 | 1.03% | Shares |
| FIRST TRUST ADVISORS LP | $52,850,276 | 1,189,788 | 1.02% | Shares |
| Glenmede Investment Management, LP | $51,246,402 | 710,867 | 0.99% | Shares |
| Gotham Asset Management, LLC | $48,167,760 | 1,084,371 | 0.93% | Shares |
| CITADEL ADVISORS LLC | $45,312,842 | 1,020,100 | 0.88% | Put option |
| JANE STREET GROUP, LLC | $42,687,620 | 961,000 | 0.83% | Put option |
| GOLDMAN SACHS GROUP INC | $41,088,996 | 925,011 | 0.80% | Shares |
| Squarepoint Ops LLC | $39,810,625 | 896,232 | 0.77% | Shares |
| Clearbridge Investments, LLC | $30,947,917 | 696,711 | 0.60% | Shares |
| Global Alpha Capital Management Ltd. | $29,938,458 | 673,986 | 0.58% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $28,621,183 | 644,331 | 0.55% | Shares |
| SEB Asset Management AB | $27,162,068 | 611,484 | 0.53% | Shares |
| CITADEL ADVISORS LLC | $27,096,200 | 610,000 | 0.52% | Call option |
| GLENMEDE TRUST CO NA | $26,984,750 | 607,491 | 0.52% | Shares |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | $25,694,845 | 541,971 | 0.50% | Shares |
| JANE STREET GROUP, LLC | $25,599,246 | 576,300 | 0.50% | Call option |
| Man Group plc | $23,635,615 | 532,094 | 0.46% | Shares |
| RHUMBLINE ADVISERS | $23,359,429 | 525,878 | 0.45% | Shares |
| Nuveen, LLC | $23,342,443 | 525,494 | 0.45% | Shares |
| Retirement Systems of Alabama | $22,390,612 | 504,066 | 0.43% | Shares |
| Walleye Trading LLC | $21,788,010 | 490,500 | 0.42% | Put option |
| VIRGINIA RETIREMENT SYSTEMS ET Al | $20,883,546 | 305,315 | 0.40% | Shares |
| TWO SIGMA ADVISERS, LP | $20,882,520 | 305,300 | 0.40% | Shares |
| Universal- Beteiligungs- und Servicegesellschaft mbH | $20,116,882 | 452,258 | 0.39% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $19,984,469 | 449,898 | 0.39% | Shares |
| Walleye Trading LLC | $19,198,324 | 432,200 | 0.37% | Call option |
| Trexquant Investment LP | $18,937,401 | 426,326 | 0.37% | Shares |
| California Public Employees Retirement System | $18,773,758 | 422,642 | 0.36% | Shares |
| SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC | $18,470,280 | 415,810 | 0.36% | Shares |
| Quinn Opportunity Partners LLC | $17,824,858 | 401,280 | 0.35% | Shares |
| Swiss National Bank | $17,328,242 | 390,100 | 0.34% | Shares |
| WOLVERINE TRADING, LLC | $16,666,206 | 202,900 | 0.32% | Put option |
| BANK OF AMERICA CORP /DE/ | $16,394,134 | 369,071 | 0.32% | Shares |
| WOLVERINE TRADING, LLC | $15,606,600 | 190,000 | 0.30% | Call option |
| Assenagon Asset Management S.A. | $15,504,268 | 349,038 | 0.30% | Shares |
| ALGERT GLOBAL LLC | $14,928,540 | 336,077 | 0.29% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $14,698,534 | 330,899 | 0.28% | Shares |
| Distillate Capital Partners LLC | $14,353,079 | 323,122 | 0.28% | Shares |
| BlackRock, Inc. | $14,201,296 | 319,705 | 0.27% | Shares |
| BARCLAYS PLC | $14,121,607 | 317,911 | 0.27% | Shares |
| UBS Group AG | $14,014,510 | 315,500 | 0.27% | Put option |
| CANADA PENSION PLAN INVESTMENT BOARD | $13,517,006 | 304,300 | 0.26% | Shares |
| IEQ CAPITAL, LLC | $12,258,787 | 275,974 | 0.24% | Shares |
| ALLIANCEBERNSTEIN L.P. | $12,110,126 | 255,434 | 0.23% | Shares |
| Engineers Gate Manager LP | $11,987,181 | 269,860 | 0.23% | Shares |
| Corient Private Wealth LP | $11,541,561 | 259,819 | 0.22% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $11,471,608 | 241,966 | 0.22% | Shares |
| MACKENZIE FINANCIAL CORP | $10,761,411 | 242,265 | 0.21% | Shares |
| ENVESTNET ASSET MANAGEMENT INC | $10,466,204 | 235,619 | 0.20% | Shares |
| Saudi Central Bank | $9,719,455 | 184,290 | 0.19% | Shares |
| ASSETMARK, INC | $9,379,105 | 211,146 | 0.18% | Shares |
| LAZARD ASSET MANAGEMENT LLC | $9,369,910 | 210,939 | 0.18% | Shares |
| Legal & General Group Plc | $8,912,785 | 200,648 | 0.17% | Shares |
| JANE STREET GROUP, LLC | $8,899,058 | 200,339 | 0.17% | Shares |
| SYON CAPITAL LLC | $8,845,133 | 199,125 | 0.17% | Shares |
| UBS Group AG | $8,470,006 | 190,680 | 0.16% | Call option |
| Walleye Trading LLC | $8,387,118 | 188,814 | 0.16% | Shares |
| Trek Financial, LLC | $7,628,558 | 171,737 | 0.15% | Shares |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC | $7,578,052 | 170,600 | 0.15% | Shares |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM | $7,401,483 | 166,625 | 0.14% | Shares |
| PANAGORA ASSET MANAGEMENT INC | $7,026,622 | 158,186 | 0.14% | Shares |
| VANGUARD GROUP INC | $6,667,564 | 97,479 | 0.13% | Shares |
| ROYAL BANK OF CANADA | $6,645,000 | 149,600 | 0.13% | Call option |
| VOYA INVESTMENT MANAGEMENT LLC | $6,541,422 | 147,263 | 0.13% | Shares |
| Vanguard Global Advisers, LLC | $6,473,815 | 145,741 | 0.13% | Shares |
| KLP KAPITALFORVALTNING AS | $6,232,126 | 140,300 | 0.12% | Shares |
| LOS ANGELES CAPITAL MANAGEMENT LLC | $6,209,471 | 139,790 | 0.12% | Shares |
| MERCER GLOBAL ADVISORS INC /ADV | $6,039,897 | 135,972 | 0.12% | Shares |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $6,006,339 | 135,217 | 0.12% | Shares |
| CapWealth Advisors, LLC | $5,760,297 | 129,678 | 0.11% | Shares |
| CWM, LLC | $5,506,564 | 116,148 | 0.11% | Shares |
| RAYMOND JAMES FINANCIAL INC | $5,320,361 | 119,774 | 0.10% | Shares |
| Baird Financial Group, Inc. | $5,312,198 | 119,590 | 0.10% | Shares |
| SCHRODER INVESTMENT MANAGEMENT GROUP | $5,291,434 | 117,483 | 0.10% | Shares |
| Y-Intercept (Hong Kong) Ltd | $5,253,154 | 118,261 | 0.10% | Shares |
| Connor, Clark & Lunn Investment Management Ltd. | $5,239,961 | 117,964 | 0.10% | Shares |
| Illinois Municipal Retirement Fund | $5,153,786 | 116,024 | 0.10% | Shares |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC | $5,084,195 | 116,479 | 0.10% | Shares |
| Focus Partners Wealth | $5,062,175 | 113,953 | 0.10% | Shares |
Company insiders 36 insiders · 6 officers · 18 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Allan C. Thygesen | President and CEO | July 9, 2026 A | 159,038 | 0 | 2 | $-1,208,131 |
| Robert Chatwani | President General Mgr, Growth | July 9, 2026 A | 72,805 | 0 | 2 | $-683,940 |
| William Neil Hudspith | President, Worldwide Field Ops | Jan. 31, 2019 S | 312,642 | 0 | 0 | $0 |
| Paula Hansen | Chief Revenue Officer | July 9, 2026 A | 89,972 | 0 | 1 | $-273,240 |
| James P Shaughnessy | Chief Legal Officer | July 9, 2026 A | 52,815 | 0 | 11 | $-2,446,837 |
| Reginald D. Davis | General Counsel and Secretary | March 15, 2019 F | 86,781 | 0 | 0 | $0 |
| Rowan M Trollope | Director | Aug. 2, 2026 M | 869 | 0 | 0 | $0 |
| Brian Keith Roberts | Director | June 5, 2026 M | 855 | 0 | 0 | $0 |
| Anna Marrs | Director | June 4, 2026 M | 12,977 | 0 | 7 | $-178,168 |
| Michael George Rosenbaum | Director | June 3, 2026 M | 1,566 | 0 | 0 | $0 |
| Enrique T Salem | Director | June 1, 2026 A | 167,318 | 0 | 0 | $0 |
| James A Beer | Director | June 1, 2026 A | 15,036 | 0 | 4 | $-112,446 |
| Mary Agnes Wilderotter | Director | June 1, 2026 A | 3,199 | 0 | 1 | $-144,450 |
| Cain A Hayes | Director | May 29, 2026 A | 15,717 | 0 | 0 | $0 |
| Teresa Briggs | Director | May 29, 2026 A | 10,263 | 0 | 1 | $-18,265 |
| Peter Solvik | Director | May 29, 2026 A | 8,970 | 0 | 0 | $0 |
| Blake Irving | Director | May 29, 2026 A | 26,093 | 0 | 0 | $0 |
| Mary G Meeker | Director | Jan. 10, 2019 J | 165,819 | 0 | 0 | $0 |
| Keith J. Krach | Director | Dec. 28, 2018 G | 7,323,158 | 0 | 0 | $0 |
| Thomas H. Gonser JR. | Director | Nov. 15, 2018 F | 25,761 | 0 | 0 | $0 |
| Jonathan David Roberts | Director | May 1, 2018 C | 14,912,013 | 0 | 0 | $0 |
| Scott C Darling | Director | May 1, 2018 C | 9,203,071 | 0 | 0 | $0 |
| Rory O'Driscoll | Director | May 1, 2018 C | 4,359,253 | 0 | 0 | $0 |
| Blake Jeffrey Grayson | — | Aug. 7, 2026 S | 126,429 | 0 | 5 | $-2,373,461 |
| Daniel D. Springer | — | March 15, 2025 M | 911,279 | 0 | 0 | $0 |
| Stephen Shute | — | July 9, 2024 S | 0 | 0 | 0 | $0 |
| Inhi Cho Suh | — | Dec. 15, 2023 M | 92,671 | 0 | 0 | $0 |
| Cynthia Gaylor | — | March 15, 2023 M | 38,578 | 0 | 0 | $0 |
| Scott V. Olrich | — | June 15, 2022 M | 233,610 | 0 | 0 | $0 |
| Tram T Phi | — | April 10, 2022 A | 7,579 | 0 | 0 | $0 |
| Loren Alhadeff | — | Jan. 12, 2022 M | 179,815 | 0 | 0 | $0 |
| Sudhir Steven Singh | — | Nov. 29, 2020 M | 8,925 | 0 | 0 | $0 |
| Kirsten O. Wolberg | — | July 9, 2020 G | 972 | 0 | 0 | $0 |
| Michael J Sheridan | — | June 15, 2020 F | 632,106 | 0 | 0 | $0 |
| John M Hinshaw | — | Dec. 26, 2019 M | 71,053 | 0 | 0 | $0 |
| Louis J Lavigne JR | — | June 17, 2019 A | 16,542 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 138 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| MCOW · Pacer Funds Trust | 3.22% | 689 NS | April 30, 2026 | N-PORT |
| AZTD · Tidal Trust I | 1.53% | 14,600 NS | April 30, 2026 | N-PORT |
| LGRO · ALPS ETF Trust | 1.41% | 36,315 NS | May 31, 2026 | N-PORT |
| CALF · Pacer Funds Trust | 1.10% | 820,009 NS | April 30, 2026 | N-PORT |
| TAX · EA Series Trust | 0.94% | 4,580 NS | May 29, 2026 | N-PORT |
| CCSO · Tidal Trust II | 0.76% | 7,699 NS | April 30, 2026 | N-PORT |
| FLOW · Global X Funds | 0.60% | 3,279 NS | May 31, 2026 | N-PORT |
| FXL · First Trust Exchange-Traded AlphaDE… | 0.53% | 170,344 NS | April 30, 2026 | N-PORT |
| ABOT · Abacus FCF ETF Trust | 0.50% | 479 NS | April 30, 2026 | N-PORT |
| TMFX · RBB Fund, Inc. | 0.49% | 3,009 NS | May 31, 2026 | N-PORT |
| COWG · Pacer Funds Trust | 0.47% | 223,269 NS | April 30, 2026 | N-PORT |
| FDND · First Trust Exchange-Traded Fund IV | 0.43% | 900 NS | April 30, 2026 | N-PORT |
| AFMC · First Trust Exchange-Traded Fund VI… | 0.43% | 13,239 NS | May 31, 2026 | N-PORT |
| MIDE · DBX ETF Trust | 0.42% | 269 NS | May 29, 2026 | N-PORT |
| QGRO · AMERICAN CENTURY ETF TRUST | 0.40% | 166,759 NS | May 31, 2026 | N-PORT |
| ITAN · EA Series Trust | 0.38% | 6,500 NS | May 29, 2026 | N-PORT |
| IQSM · New York Life Investments ETF Trust | 0.38% | 25,993 NS | April 30, 2026 | N-PORT |
| FDG · AMERICAN CENTURY ETF TRUST | 0.36% | 28,244 NS | May 31, 2026 | N-PORT |
| SMDX · Tidal Trust III | 0.36% | 9,788 NS | April 30, 2026 | N-PORT |
| SKYU · ProShares Trust | 0.31% | 213 NS | May 31, 2026 | N-PORT |
| JMID · Janus Detroit Street Trust | 0.30% | 1,173 NS | April 30, 2026 | N-PORT |
| WEBL · Direxion Shares ETF Trust | 0.28% | 6,879 NS | April 30, 2026 | N-PORT |
| PTMC · Pacer Funds Trust | 0.27% | 22,976 NS | April 30, 2026 | N-PORT |
| FBUF · Fidelity Greenwood Street Trust | 0.25% | 1,030 NS | April 30, 2026 | N-PORT |
| SMIZ · Zacks Trust | 0.24% | 12,007 NS | May 31, 2026 | N-PORT |
| HQGO · Lattice Strategies Trust | 0.24% | 2,548 NS | April 30, 2026 | N-PORT |
| MVV · ProShares Trust | 0.23% | 6,921 NS | May 31, 2026 | N-PORT |
| BKMC · BNY Mellon ETF Trust | 0.23% | 30,612 NS | April 30, 2026 | N-PORT |
| FYEE · Fidelity Greenwood Street Trust | 0.23% | 8,158 NS | April 30, 2026 | N-PORT |
| FHEQ · Fidelity Greenwood Street Trust | 0.21% | 38,473 NS | April 30, 2026 | N-PORT |
| AFLG · First Trust Exchange-Traded Fund VI… | 0.20% | 24,150 NS | May 31, 2026 | N-PORT |
| SCHM · SCHWAB STRATEGIC TRUST | 0.19% | 541,127 NS | May 31, 2026 | N-PORT |
| MIDU · Direxion Shares ETF Trust | 0.18% | 3,316 NS | April 30, 2026 | N-PORT |
| TMFE · RBB Fund, Inc. | 0.16% | 2,633 NS | May 31, 2026 | N-PORT |
| UMDD · ProShares Trust | 0.16% | 966 NS | May 31, 2026 | N-PORT |
| JQUA · J.P. Morgan Exchange-Traded Fund Tr… | 0.14% | 234,645 NS | April 30, 2026 | N-PORT |
| VALQ · AMERICAN CENTURY ETF TRUST | 0.14% | 9,409 NS | May 31, 2026 | N-PORT |
| JVAL · J.P. Morgan Exchange-Traded Fund Tr… | 0.12% | 19,150 NS | April 30, 2026 | N-PORT |
| AVMC · AMERICAN CENTURY ETF TRUST | 0.11% | 8,683 NS | May 31, 2026 | N-PORT |
| GINN · Goldman Sachs ETF Trust | 0.11% | 4,273 NS | May 31, 2026 | N-PORT |
| FLCG · Federated Hermes ETF Trust | 0.10% | 11,259 NS | May 31, 2026 | N-PORT |
| XAIX · DBX ETF Trust | 0.09% | 2,612 NS | May 31, 2026 | N-PORT |
| FTEC · FIDELITY COVINGTON TRUST | 0.09% | 336,214 NS | April 30, 2026 | N-PORT |
| FNDA · SCHWAB STRATEGIC TRUST | 0.06% | 93,569 NS | May 31, 2026 | N-PORT |
| AVUQ · AMERICAN CENTURY ETF TRUST | 0.04% | 2,101 NS | May 31, 2026 | N-PORT |
| AVMV · AMERICAN CENTURY ETF TRUST | 0.04% | 4,917 NS | May 31, 2026 | N-PORT |
| SCHG · SCHWAB STRATEGIC TRUST | 0.04% | 435,485 NS | May 31, 2026 | N-PORT |
| LRND · New York Life Investments ETF Trust | 0.04% | 2,269 NS | April 30, 2026 | N-PORT |
| JPME · J.P. Morgan Exchange-Traded Fund Tr… | 0.03% | 3,308 NS | April 30, 2026 | N-PORT |
| DXUV · Dimensional ETF Trust | 0.03% | 2,652 NS | April 30, 2026 | N-PORT |