DocuSign, Inc. (NASDAQ:DOCU) Shares Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company increased its stake in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 222.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 172,753 shares of the company's stock after purchasing an additional 119,245 shares during the quarter. The Manufacturers Life Insurance Company owned 0.09% of DocuSign worth $15,537,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. World Investment Advisors LLC acquired a new position in shares of DocuSign during the 3rd quarter worth $2,314,000. Wilmington Savings Fund Society FSB acquired a new position in shares of DocuSign in the third quarter valued at approximately $51,000. Tidal Investments LLC lifted its stake in shares of DocuSign by 62.8% during the 3rd quarter. Tidal Investments LLC now owns 44,946 shares of the company's stock worth $2,791,000 after purchasing an additional 17,339 shares during the period. Franklin Resources Inc. boosted its stake in DocuSign by 12.1% in the 3rd quarter. Franklin Resources Inc. now owns 520,925 shares of the company's stock worth $35,870,000 after buying an additional 56,221 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in DocuSign by 311.8% in the fourth quarter. GAMMA Investing LLC now owns 803 shares of the company's stock valued at $72,000 after purchasing an additional 608 shares during the period. Hedge funds and other institutional investors own 77.64% of the company's stock.

Analysts Set New Price Targets

DOCU has been the topic of a number of recent analyst reports. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $90.00 price target on shares of DocuSign in a research note on Friday, March 14th. Hsbc Global Res raised DocuSign from a "moderate sell" rating to a "hold" rating in a research report on Friday, April 11th. Wells Fargo & Company lowered their price target on DocuSign from $73.00 to $65.00 and set an "underweight" rating for the company in a research report on Tuesday, April 22nd. UBS Group cut their price objective on DocuSign from $90.00 to $85.00 and set a "neutral" rating on the stock in a report on Thursday, April 17th. Finally, HSBC raised DocuSign from a "reduce" rating to a "hold" rating and set a $70.00 price objective on the stock in a research note on Friday, April 11th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $92.46.

Insider Buying and Selling

In other DocuSign news, Director Teresa Briggs sold 534 shares of DocuSign stock in a transaction on Monday, March 17th. The stock was sold at an average price of $87.41, for a total transaction of $46,676.94. Following the sale, the director now owns 8,270 shares of the company's stock, valued at $722,880.70. The trade was a 6.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Blake Jeffrey Grayson sold 8,000 shares of the stock in a transaction on 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 transaction, the chief financial officer now directly owns 77,851 shares of the company's stock, valued at approximately $6,765,251.90. The trade was a 9.32 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 55,851 shares of company stock worth $4,607,439. Insiders own 1.66% of the company's stock.

DocuSign Stock Performance

Shares of DOCU stock traded up $0.59 on Wednesday, hitting $82.24. The stock had a trading volume of 2,028,513 shares, compared to its average volume of 2,741,954. The stock's 50 day moving average is $80.09 and its 200-day moving average is $84.23. The firm has a market capitalization of $16.65 billion, a price-to-earnings ratio of 16.96, a P/E/G ratio of 6.94 and a beta of 1.21. DocuSign, Inc. has a 52-week low of $48.70 and a 52-week high of $107.86.

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

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.