DocuSign, Inc. (NASDAQ:DOCU) Shares Acquired by Mackenzie Financial Corp

Mackenzie Financial Corp lifted its position in DocuSign, Inc. (NASDAQ:DOCU) by 25.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 68,833 shares of the company’s stock after acquiring an additional 13,944 shares during the period. Mackenzie Financial Corp’s holdings in DocuSign were worth $3,683,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in DOCU. Massmutual Trust Co. FSB ADV boosted its holdings in shares of DocuSign by 5,000.0% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company’s stock worth $27,000 after purchasing an additional 500 shares during the last quarter. Mather Group LLC. raised 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 purchasing an additional 564 shares during the period. Register Financial Advisors LLC purchased a new stake in DocuSign in the first quarter valued at $37,000. nVerses Capital LLC acquired a new position in shares of DocuSign in the 2nd quarter valued at $48,000. Finally, Jones Financial Companies Lllp purchased a new position in shares of DocuSign during the 4th quarter worth $59,000. 77.64% of the stock is owned by institutional investors and hedge funds.

DocuSign Trading Down 1.1 %

Shares of NASDAQ DOCU opened at $61.42 on Wednesday. DocuSign, Inc. has a 12-month low of $38.11 and a 12-month high of $64.76. The stock has a market cap of $12.57 billion, a P/E ratio of 118.12, a PEG ratio of 6.37 and a beta of 0.93. The business’s fifty day simple moving average is $56.52 and its 200-day simple moving average is $56.41.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings results on Thursday, September 5th. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.17. The company had revenue of $736.03 million for the quarter, compared to analysts’ expectations of $727.20 million. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. DocuSign’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period last year, the firm earned $0.09 earnings per share. On average, equities analysts forecast that DocuSign, Inc. will post 0.99 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Daniel D. Springer sold 287,052 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $53.78, for a total value of $15,437,656.56. Following the transaction, the director now directly owns 923,445 shares of the company’s stock, valued at approximately $49,662,872.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Stephen Shute sold 35,300 shares of the stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $52.87, for a total value of $1,866,311.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Daniel D. Springer sold 287,052 shares of DocuSign stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $53.78, for a total transaction of $15,437,656.56. Following the completion of the transaction, the director now directly owns 923,445 shares in the company, valued at $49,662,872.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 438,154 shares of company stock valued at $23,351,788. 1.66% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have commented on DOCU shares. Bank of America upped their target price on shares of DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. Citigroup lifted their target price on shares of DocuSign from $86.00 to $87.00 and gave the company a “buy” rating in a report on Friday, September 6th. Robert W. Baird upped their price target on DocuSign from $55.00 to $59.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Royal Bank of Canada raised their price target on DocuSign from $52.00 to $57.00 and gave the stock a “sector perform” rating in a research report on Friday, September 6th. Finally, Wells Fargo & Company boosted their price objective on DocuSign from $48.00 to $50.00 and gave the company an “underweight” rating in a report on Friday, September 6th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $63.40.

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.