Mackenzie Financial Corp Reduces Stock Position in DocuSign, Inc. (NASDAQ:DOCU)

Mackenzie Financial Corp lowered its holdings in DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 94.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,144 shares of the company's stock after selling 50,884 shares during the period. Mackenzie Financial Corp's holdings in DocuSign were worth $283,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of DOCU. FMR LLC grew its stake in DocuSign by 178.2% in the 4th quarter. FMR LLC now owns 6,101,024 shares of the company's stock valued at $548,726,000 after buying an additional 3,908,139 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of DocuSign by 18.5% in the fourth quarter. American Century Companies Inc. now owns 5,315,459 shares of the company's stock worth $478,072,000 after acquiring an additional 831,611 shares during the period. Jericho Capital Asset Management L.P. grew its position in shares of DocuSign by 34.0% in the fourth quarter. Jericho Capital Asset Management L.P. now owns 4,754,753 shares of the company's stock valued at $427,642,000 after purchasing an additional 1,205,500 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of DocuSign by 4.9% during the 4th quarter. Renaissance Technologies LLC now owns 4,363,292 shares of the company's stock valued at $392,434,000 after purchasing an additional 205,304 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in DocuSign by 7.2% during the 4th quarter. Geode Capital Management LLC now owns 3,732,363 shares of the company's stock worth $335,147,000 after purchasing an additional 249,179 shares in the last quarter. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. UBS Group reduced their target price on DocuSign from $85.00 to $80.00 and set a "neutral" rating for the company in a report on Friday. JMP Securities reaffirmed a "market outperform" rating and set a $124.00 price objective on shares of DocuSign in a research note on Tuesday. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $90.00 target price on shares of DocuSign in a report on Friday, March 14th. Wedbush cut their price target on shares of DocuSign from $100.00 to $85.00 and set a "neutral" rating for the company in a report on Friday. Finally, Needham & Company LLC restated a "hold" rating on shares of DocuSign in a research report on Friday. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $89.15.

DocuSign Price Performance

DOCU stock traded down $17.62 during mid-day trading on Friday, hitting $75.28. 22,570,886 shares of the stock were exchanged, compared to its average volume of 2,876,826. The stock has a market capitalization of $15.24 billion, a price-to-earnings ratio of 15.52, a PEG ratio of 6.94 and a beta of 1.21. The business has a fifty day moving average price of $82.23 and a 200 day moving average price of $86.25. DocuSign, Inc. has a 12 month low of $48.70 and a 12 month high of $107.86.

DocuSign (NASDAQ:DOCU - Get Free Report) last issued its earnings results on Thursday, June 5th. The company reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.09. The business had revenue of $763.65 million during the quarter, compared to analyst estimates of $748.79 million. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. DocuSign's revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.82 earnings per share. As a group, equities analysts forecast that DocuSign, Inc. will post 1.17 EPS for the current fiscal year.

Insider Activity

In other DocuSign news, Director Teresa Briggs sold 534 shares of the company's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $87.41, for a total transaction of $46,676.94. Following the completion of the sale, the director now directly owns 8,270 shares in the company, valued at $722,880.70. This represents a 6.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Robert Chatwani sold 15,706 shares of DocuSign stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $83.19, for a total value of $1,306,582.14. Following the completion of the transaction, the insider now owns 76,842 shares in the company, valued at approximately $6,392,485.98. This represents a 16.97% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 47,851 shares of company stock valued at $3,912,239. Corporate insiders own 1.01% of the company's stock.

About DocuSign

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.