The Manufacturers Life Insurance Company Acquires 1,248 Shares of DocuSign, Inc. (NASDAQ:DOCU)

The Manufacturers Life Insurance Company boosted its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU) by 2.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 53,508 shares of the company’s stock after purchasing an additional 1,248 shares during the period. The Manufacturers Life Insurance Company’s holdings in DocuSign were worth $3,322,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Mather Group LLC. boosted its position in DocuSign by 4,338.5% in the second quarter. Mather Group LLC. now owns 577 shares of the company’s stock valued at $31,000 after buying an additional 564 shares in the last quarter. Reston Wealth Management LLC acquired a new position in shares of DocuSign in the 3rd quarter worth approximately $47,000. nVerses Capital LLC acquired a new position in shares of DocuSign in the 2nd quarter worth approximately $48,000. Quarry LP bought a new stake in DocuSign during the 2nd quarter worth approximately $53,000. Finally, Truvestments Capital LLC acquired a new stake in DocuSign during the 3rd quarter valued at $74,000. 77.64% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at DocuSign

In related news, Director Teresa Briggs sold 534 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $56.56, for a total transaction of $30,203.04. Following the completion of the transaction, the director now directly owns 7,202 shares in the company, valued at approximately $407,345.12. The trade was a 6.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Allan C. Thygesen sold 7,763 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $80.54, for a total transaction of $625,232.02. Following the completion of the transaction, the chief executive officer now directly owns 100,062 shares of the company’s stock, valued at $8,058,993.48. This represents a 7.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 69,596 shares of company stock worth $4,441,529 over the last quarter. 1.66% of the stock is currently owned by insiders.

DocuSign Price Performance

Shares of NASDAQ:DOCU opened at $106.99 on Friday. The stock’s 50-day moving average is $74.66 and its 200 day moving average is $62.01. The company has a market cap of $21.72 billion, a PE ratio of 22.06, a P/E/G ratio of 8.70 and a beta of 0.92. DocuSign, Inc. has a 1 year low of $44.34 and a 1 year high of $107.86.

DocuSign (NASDAQ:DOCU) last announced its earnings results on Thursday, September 5th. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.17. The firm had revenue of $736.03 million for the quarter, compared to analysts’ expectations of $727.20 million. DocuSign had a net margin of 34.56% and a return on equity of 16.18%. The company’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.09 EPS. Analysts expect that DocuSign, Inc. will post 1.03 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on DOCU. Bank of America increased their price objective on shares of DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Morgan Stanley boosted their price objective on DocuSign from $62.00 to $97.00 and gave the stock an “equal weight” rating in a report on Friday. Wells Fargo & Company raised their price objective on shares of DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a research note on Friday. Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a research note on Friday. Finally, Citigroup upped their price objective on DocuSign from $87.00 to $113.00 and gave the company a “buy” rating in a report on Friday. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $92.45.

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.