DocuSign, Inc. (NASDAQ:DOCU) Shares Purchased by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co lifted its position in DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 53.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 274,313 shares of the company's stock after acquiring an additional 95,182 shares during the period. CANADA LIFE ASSURANCE Co owned 0.14% of DocuSign worth $24,656,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Kestra Investment Management LLC purchased a new stake in DocuSign during the 4th quarter worth approximately $30,000. First Horizon Advisors Inc. lifted its stake in DocuSign by 102.6% during the fourth quarter. First Horizon Advisors Inc. now owns 397 shares of the company's stock worth $36,000 after purchasing an additional 201 shares during the last quarter. Modus Advisors LLC acquired a new position in shares of DocuSign in the 4th quarter valued at $36,000. Bessemer Group Inc. raised its stake in DocuSign by 490.0% during the 4th quarter. Bessemer Group Inc. now owns 472 shares of the company's stock worth $42,000 after acquiring an additional 392 shares in the last quarter. Finally, Avion Wealth lifted its position in DocuSign by 309.2% in the fourth quarter. Avion Wealth now owns 487 shares of the company's stock valued at $43,000 after acquiring an additional 368 shares during the last quarter. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

DocuSign Price Performance

DOCU traded up $1.52 during midday trading on Friday, reaching $83.19. 384,029 shares of the company's stock were exchanged, compared to its average volume of 2,730,966. The business's 50-day moving average price is $80.43 and its 200 day moving average price is $83.47. The stock has a market capitalization of $16.85 billion, a PE ratio of 17.13, a P/E/G ratio of 6.94 and a beta of 1.20. DocuSign, Inc. has a 1-year low of $48.70 and a 1-year high of $107.86.

DocuSign (NASDAQ:DOCU - Get Free Report) last posted its quarterly earnings results on Thursday, March 13th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.84 by $0.02. The company had revenue of $776.25 million during the quarter, compared to analysts' expectations of $760.94 million. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The firm's revenue was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.76 EPS. As a group, analysts expect that DocuSign, Inc. will post 1.17 EPS for the current fiscal year.

Insider Activity

In other news, CFO Blake Jeffrey Grayson sold 8,000 shares of the stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $86.90, for a total value of $695,200.00. Following the completion of the sale, the chief financial officer now owns 77,851 shares in the company, valued at approximately $6,765,251.90. This trade represents a 9.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Teresa Briggs sold 534 shares of the business's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $87.41, for a total value of $46,676.94. Following the transaction, the director now directly owns 8,270 shares in the company, valued at $722,880.70. This trade represents a 6.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 55,851 shares of company stock valued at $4,607,439 in the last ninety days. Company insiders own 1.66% of the company's stock.

Analysts Set New Price Targets

Several research firms have commented on DOCU. Morgan Stanley cut their price target on DocuSign from $97.00 to $92.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Robert W. Baird set a $93.00 price objective on shares of DocuSign in a research report on Friday, March 14th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $90.00 target price on shares of DocuSign in a report on Friday, March 14th. Bank of America dropped their price target on DocuSign from $112.00 to $98.00 and set a "neutral" rating on the stock in a research report on Friday, March 14th. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $124.00 price objective on shares of DocuSign in a research report on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, DocuSign currently has an average rating of "Hold" and a consensus price target of $92.46.

DocuSign Company 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.