The Manufacturers Life Insurance Company Has $6.72 Million Holdings in Docusign Inc. $DOCU

The Manufacturers Life Insurance Company boosted its position in shares of Docusign Inc. (NASDAQ:DOCU) by 27.4% in the first quarter, Holdings Channel.com reports. The firm owned 141,727 shares of the company’s stock after acquiring an additional 30,515 shares during the period. The Manufacturers Life Insurance Company’s holdings in Docusign were worth $6,719,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Docusign in the fourth quarter valued at about $186,795,000. Arrowstreet Capital Limited Partnership raised its position in Docusign by 76.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 5,285,128 shares of the company’s stock valued at $250,568,000 after buying an additional 2,283,996 shares during the last quarter. Capital World Investors raised its position in Docusign by 38.1% in the 4th quarter. Capital World Investors now owns 5,815,804 shares of the company’s stock valued at $397,801,000 after buying an additional 1,603,900 shares during the last quarter. SG Americas Securities LLC lifted its stake in Docusign by 452.3% in the 1st quarter. SG Americas Securities LLC now owns 1,314,632 shares of the company’s stock valued at $62,327,000 after acquiring an additional 1,076,622 shares in the last quarter. Finally, Woodline Partners LP boosted its position in Docusign by 24,412.7% during the 3rd quarter. Woodline Partners LP now owns 958,938 shares of the company’s stock worth $69,130,000 after acquiring an additional 955,026 shares during the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.

Docusign Trading Down 0.1%

NASDAQ DOCU opened at $57.49 on Thursday. Docusign Inc. has a 12 month low of $40.16 and a 12 month high of $86.65. The stock has a 50 day moving average of $48.88 and a 200-day moving average of $48.20. The company has a market cap of $10.98 billion, a PE ratio of 37.33, a PEG ratio of 1.70 and a beta of 0.87.

Docusign (NASDAQ:DOCU) last posted its quarterly earnings results on Thursday, June 4th. The company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.10. The firm 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 quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.90 earnings per share. As a group, sell-side analysts predict that Docusign Inc. will post 2.03 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider James P. Shaughnessy sold 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $45.54, for a total value of $546,480.00. Following the completion of the sale, the insider directly owned 52,815 shares of the company’s stock, valued at $2,405,195.10. This trade represents a 18.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robert Chatwani sold 15,902 shares of Docusign stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $43.01, for a total value of $683,945.02. Following the transaction, the insider owned 72,805 shares of the company’s stock, valued at $3,131,343.05. This represents a 17.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 76,695 shares of company stock worth $3,476,002 in the last 90 days. 0.59% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on DOCU. Wall Street Zen downgraded shares of Docusign from a “strong-buy” rating to a “buy” rating in a report on Sunday. BTIG Research reduced their target price on shares of Docusign from $70.00 to $60.00 and set a “buy” rating for the company in a report on Friday, June 5th. Weiss Ratings raised shares of Docusign from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, July 14th. Wells Fargo & Company cut their price target on shares of Docusign from $60.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Friday, June 5th. Finally, Jefferies Financial Group increased their price objective on shares of Docusign from $45.00 to $50.00 and gave the stock a “hold” rating in a research note on Friday, June 5th. Three analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $60.27.

About Docusign

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.