The Manufacturers Life Insurance Company Acquires 1,628 Shares of DocuSign, Inc. (NASDAQ:DOCU)

The Manufacturers Life Insurance Company boosted its holdings in DocuSign, Inc. (NASDAQ:DOCU) by 3.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,260 shares of the company’s stock after purchasing an additional 1,628 shares during the period. The Manufacturers Life Insurance Company’s holdings in DocuSign were worth $2,796,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of DocuSign by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 21,399,739 shares of the company’s stock valued at $1,272,214,000 after acquiring an additional 417,352 shares in the last quarter. Coatue Management LLC acquired a new position in shares of DocuSign during the 4th quarter worth approximately $288,274,000. American Century Companies Inc. increased its position in shares of DocuSign by 1.9% during the 2nd quarter. American Century Companies Inc. now owns 4,099,400 shares of the company’s stock worth $219,318,000 after purchasing an additional 75,026 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of DocuSign by 18.3% in the 2nd quarter. Renaissance Technologies LLC now owns 3,729,314 shares of the company’s stock valued at $199,518,000 after buying an additional 576,414 shares during the last quarter. Finally, Pacer Advisors Inc. grew its stake in shares of DocuSign by 77.9% in the second quarter. Pacer Advisors Inc. now owns 3,519,969 shares of the company’s stock valued at $188,318,000 after buying an additional 1,541,816 shares in the last quarter. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have issued reports on DOCU. Citigroup upped their price target on shares of DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Robert W. Baird raised their target price on shares of DocuSign from $55.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Royal Bank of Canada boosted 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. Wells Fargo & Company raised their price objective on DocuSign from $48.00 to $50.00 and gave the company an “underweight” rating in a research report on Friday, September 6th. Finally, JMP Securities reissued a “market outperform” rating and set a $84.00 target price on shares of DocuSign in a report on Thursday, September 5th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $63.40.

Insider Buying and Selling at DocuSign

In other news, CEO Allan C. Thygesen sold 7,648 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $62.47, for a total transaction of $477,770.56. Following the completion of the sale, the chief executive officer now owns 115,589 shares of the company’s stock, valued at approximately $7,220,844.83. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Allan C. Thygesen sold 7,648 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $62.47, for a total transaction of $477,770.56. Following the completion of the sale, the chief executive officer now directly owns 115,589 shares in the company, valued at $7,220,844.83. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Daniel D. Springer sold 70,983 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $49.84, for a total transaction of $3,537,792.72. Following the transaction, the director now owns 891,373 shares of the company’s stock, valued at approximately $44,426,030.32. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 410,502 shares of company stock valued at $21,963,248 in the last ninety days. 1.66% of the stock is currently owned by company insiders.

DocuSign Trading Up 6.5 %

NASDAQ DOCU opened at $66.89 on Wednesday. The company has a market cap of $13.69 billion, a price-to-earnings ratio of 128.63, a PEG ratio of 6.37 and a beta of 0.92. DocuSign, Inc. has a 1-year low of $38.11 and a 1-year high of $68.64. The company has a 50 day moving average of $57.14 and a 200-day moving average of $56.53.

DocuSign (NASDAQ:DOCU) last released its earnings results on Thursday, September 5th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.17. The company had revenue of $736.03 million for the quarter, compared to analyst estimates 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 in the prior year, the firm posted $0.09 EPS. On average, equities research analysts forecast that DocuSign, Inc. will post 0.99 earnings per share for the current year.

DocuSign 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.