118,306 Shares in Docusign Inc. $DOCU Bought by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Docusign Inc. (NASDAQ:DOCU) in the second quarter, HoldingsChannel reports. The fund purchased 118,306 shares of the company’s stock, valued at approximately $5,255,000.

Several other large investors have also added to or reduced their stakes in DOCU. Modus Advisors LLC acquired a new position in shares of Docusign in the fourth quarter valued at about $27,000. Torren Management LLC acquired a new stake in shares of Docusign during the fourth quarter worth about $28,000. Cary Street Partners Investment Advisory LLC lifted its holdings in shares of Docusign by 309.5% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 561 shares of the company’s stock worth $38,000 after purchasing an additional 424 shares during the period. Basepoint Wealth LLC purchased a new stake in Docusign in the fourth quarter valued at approximately $39,000. Finally, WealthCollab LLC boosted its position in Docusign by 372.4% in the first quarter. WealthCollab LLC now owns 855 shares of the company’s stock valued at $41,000 after buying an additional 674 shares during the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Insider Activity

In related news, CEO Allan C. Thygesen sold 26,250 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $46.02, for a total value of $1,208,025.00. Following the transaction, the chief executive officer directly owned 159,038 shares of the company’s stock, valued at approximately $7,318,928.76. This trade represents a 14.17% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Paula Hansen sold 6,000 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $45.54, for a total value of $273,240.00. Following the transaction, the executive directly owned 89,972 shares of the company’s stock, valued at $4,097,324.88. The trade was a 6.25% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 91,330 shares of company stock worth $4,357,737. Insiders own 0.59% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on DOCU shares. Weiss Ratings upgraded shares of Docusign from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday. Citigroup reaffirmed a “market outperform” rating on shares of Docusign in a report on Tuesday, August 18th. Wells Fargo & Company cut their price objective on shares of Docusign from $60.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Friday, June 5th. Jefferies Financial Group raised their target price on shares of Docusign from $45.00 to $50.00 and gave the stock a “hold” rating in a report on Friday, June 5th. Finally, Citizens Jmp restated a “market outperform” rating and set a $86.00 target price on shares of Docusign in a research report on Tuesday, August 18th. Four analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Docusign has an average rating of “Hold” and an average price target of $60.27.

Docusign Trading Up 7.5%

NASDAQ DOCU opened at $63.80 on Friday. The stock has a market capitalization of $12.18 billion, a price-to-earnings ratio of 41.43, a PEG ratio of 1.72 and a beta of 0.87. The stock has a 50-day moving average of $53.03 and a 200 day moving average of $49.04. Docusign Inc. has a twelve month low of $40.16 and a twelve month high of $86.65.

Docusign (NASDAQ:DOCU) last posted its quarterly earnings data on Thursday, June 4th. The company reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.10. The business had revenue of $830.24 million during the quarter, compared to analysts’ expectations of $824.71 million. Docusign had a return on equity of 17.48% and a net margin of 9.59%.The business’s revenue was up 8.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.90 earnings per share. Equities analysts predict that Docusign Inc. will post 2.06 EPS for the current fiscal year.

Docusign Profile

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.