The Manufacturers Life Insurance Company Acquires 30,515 Shares of Docusign Inc. $DOCU

The Manufacturers Life Insurance Company boosted its holdings in Docusign Inc. (NASDAQ:DOCU - Free Report) by 27.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 141,727 shares of the company's stock after buying an additional 30,515 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.07% of Docusign worth $6,719,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Smartleaf Asset Management LLC raised its position in shares of Docusign by 8.2% during the 2nd quarter. Smartleaf Asset Management LLC now owns 2,169 shares of the company's stock valued at $166,000 after acquiring an additional 165 shares during the last quarter. Centaurus Financial Inc. boosted its position in shares of Docusign by 3.4% in the 3rd quarter. Centaurus Financial Inc. now owns 5,582 shares of the company's stock worth $402,000 after purchasing an additional 184 shares during the last quarter. Tred Avon Family Wealth LLC boosted its position in shares of Docusign by 3.6% in the 1st quarter. Tred Avon Family Wealth LLC now owns 6,176 shares of the company's stock worth $293,000 after purchasing an additional 215 shares during the last quarter. Sanctuary Advisors LLC grew its stake in shares of Docusign by 2.4% during the fourth quarter. Sanctuary Advisors LLC now owns 9,685 shares of the company's stock worth $662,000 after purchasing an additional 231 shares during the period. Finally, First Citizens Bank & Trust Co. grew its stake in shares of Docusign by 2.1% during the first quarter. First Citizens Bank & Trust Co. now owns 11,745 shares of the company's stock worth $557,000 after purchasing an additional 239 shares during the period. 77.64% of the stock is owned by institutional investors.

Docusign Trading Down 0.1%

Shares of Docusign stock opened at $57.49 on Thursday. The company has a market capitalization of $10.98 billion, a PE ratio of 37.33, a PEG ratio of 1.70 and a beta of 0.87. Docusign Inc. has a 12 month low of $40.16 and a 12 month high of $86.65. The stock's fifty day simple moving average is $48.88 and its 200 day simple moving average is $48.20.

Docusign (NASDAQ:DOCU - Get Free Report) last posted its earnings results on Thursday, June 4th. The company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.10. Docusign had a return on equity of 17.48% and a net margin of 9.59%.The firm had revenue of $830.24 million for the quarter, compared to analyst estimates of $824.71 million. During the same period in the previous year, the company posted $0.90 earnings per share. The company's revenue for the quarter was up 8.7% on a year-over-year basis. Analysts predict that Docusign Inc. will post 2.03 EPS for the current fiscal year.

Insider Activity at Docusign

In other news, insider Robert Chatwani sold 15,902 shares of Docusign stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $43.01, for a total transaction of $683,945.02. Following the transaction, the insider owned 72,805 shares in the company, valued at $3,131,343.05. The trade was a 17.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Paula Hansen sold 6,000 shares of the business's stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $45.54, for a total value of $273,240.00. Following the completion of the transaction, the executive owned 89,972 shares of the company's stock, valued at $4,097,324.88. This represents a 6.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 76,695 shares of company stock valued at $3,476,002 over the last 90 days. Insiders own 0.59% of the company's stock.

Analyst Ratings Changes

Several equities analysts have weighed in on DOCU shares. Wells Fargo & Company cut their target price on Docusign from $60.00 to $55.00 and set an "equal weight" rating on the stock in a research note on Friday, June 5th. Jefferies Financial Group boosted their target price on Docusign from $45.00 to $50.00 and gave the stock a "hold" rating in a research report on Friday, June 5th. Needham & Company LLC reaffirmed a "hold" rating on shares of Docusign in a research note on Friday, June 5th. Weiss Ratings upgraded shares of Docusign from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, July 14th. Finally, Wall Street Zen lowered shares of Docusign from a "strong-buy" rating to a "buy" rating in a research note on Sunday. Three analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $60.27.

About Docusign

DocuSign, Inc NASDAQ: DOCU is a leading provider of electronic signature and digital transaction management solutions. The company's flagship offering, DocuSign eSignature, enables organizations to send, sign and manage legally binding electronic agreements securely in the cloud. Beyond eSignature, DocuSign's Agreement Cloud combines contract lifecycle management, document generation, and workflow automation to streamline agreement processes from initiation through execution and storage.

DocuSign's platform serves a diverse customer base spanning industries such as finance, real estate, healthcare, technology, and government.

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