The Manufacturers Life Insurance Company acquired a new stake in Docusign Inc. (NASDAQ:DOCU - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 135,217 shares of the company's stock, valued at approximately $6,006,000. The Manufacturers Life Insurance Company owned 0.07% of Docusign at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Smartleaf Asset Management LLC boosted its stake in Docusign by 8.2% in the 2nd quarter. Smartleaf Asset Management LLC now owns 2,169 shares of the company's stock valued at $166,000 after buying an additional 165 shares in the last quarter. Centaurus Financial Inc. raised its stake in Docusign by 3.4% during the third quarter. Centaurus Financial Inc. now owns 5,582 shares of the company's stock worth $402,000 after acquiring an additional 184 shares in the last quarter. Tred Avon Family Wealth LLC lifted its holdings in shares of Docusign by 3.6% during the first quarter. Tred Avon Family Wealth LLC now owns 6,176 shares of the company's stock valued at $293,000 after acquiring an additional 215 shares during the period. Sanctuary Advisors LLC boosted its stake in shares of Docusign by 2.4% in the 4th quarter. Sanctuary Advisors LLC now owns 9,685 shares of the company's stock valued at $662,000 after purchasing an additional 231 shares in the last quarter. Finally, First Citizens Bank & Trust Co. grew its holdings in shares of Docusign by 2.1% in the 1st 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 last quarter. 77.64% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several brokerages recently issued reports on DOCU. Jefferies Financial Group lifted their price target on shares of Docusign from $45.00 to $50.00 and gave the company a "hold" rating in a report on Friday, June 5th. Citizens Jmp reaffirmed a "market outperform" rating and set a $86.00 price objective on shares of Docusign in a report on Tuesday, August 18th. UBS Group set a $60.00 target price on shares of Docusign in a research note on Friday, June 5th. Needham & Company LLC restated a "hold" rating on shares of Docusign in a research report on Friday, June 5th. Finally, Wells Fargo & Company dropped their price target on Docusign from $60.00 to $55.00 and set an "equal weight" rating for the company in a report on Friday, June 5th. Four equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Docusign has a consensus rating of "Hold" and an average price target of $60.27.
Read Our Latest Report on Docusign
Docusign Trading Up 3.5%
Shares of NASDAQ:DOCU opened at $66.27 on Tuesday. Docusign Inc. has a 1-year low of $40.16 and a 1-year high of $86.65. The stock has a market capitalization of $12.65 billion, a P/E ratio of 43.03, a P/E/G ratio of 1.86 and a beta of 0.87. The business has a 50-day moving average price of $53.91 and a two-hundred day moving average price of $49.29.
Docusign (NASDAQ:DOCU - Get Free Report) last issued its earnings results on Thursday, June 4th. The company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.10. The company had revenue of $830.24 million for the quarter, compared to analyst estimates of $824.71 million. Docusign had a net margin of 9.59% and a return on equity of 17.48%. The company's revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.90 EPS. As a group, equities analysts predict that Docusign Inc. will post 2.06 EPS for the current year.
Insider Transactions at Docusign
In other Docusign news, insider James P. Shaughnessy sold 12,000 shares of the company's stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $45.54, for a total transaction of $546,480.00. Following the completion of the sale, the insider owned 52,815 shares in the company, valued at approximately $2,405,195.10. The trade was a 18.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Allan C. Thygesen sold 26,250 shares of the stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $46.02, for a total value of $1,208,025.00. Following the completion of the transaction, the chief executive officer directly owned 159,038 shares in the company, valued at approximately $7,318,928.76. This trade represents a 14.17% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 90,965 shares of company stock valued at $4,341,688. 0.59% of the stock is currently owned by company insiders.
About Docusign
(
Free Report)
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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