National Bank of Canada FI Boosts Stake in DocuSign, Inc. (NASDAQ:DOCU)

National Bank of Canada FI lifted its stake in shares of DocuSign, Inc. (NASDAQ:DOCU) by 1,301.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 175,563 shares of the company’s stock after acquiring an additional 163,037 shares during the period. National Bank of Canada FI owned approximately 0.09% of DocuSign worth $10,010,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DOCU. Raymond James Financial Services Advisors Inc. grew its holdings in shares of DocuSign by 18.2% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 156,279 shares of the company’s stock valued at $6,564,000 after purchasing an additional 24,045 shares during the last quarter. Stratos Wealth Partners LTD. purchased a new position in shares of DocuSign in the third quarter worth about $220,000. New York State Teachers Retirement System lifted its stake in shares of DocuSign by 34.0% in the 3rd quarter. New York State Teachers Retirement System now owns 18,119 shares of the company’s stock valued at $761,000 after acquiring an additional 4,599 shares during the last quarter. Mackenzie Financial Corp bought a new stake in shares of DocuSign in the 3rd quarter valued at about $2,002,000. Finally, IFM Investors Pty Ltd boosted its holdings in DocuSign by 1.8% during the 3rd quarter. IFM Investors Pty Ltd now owns 35,577 shares of the company’s stock valued at $1,494,000 after acquiring an additional 635 shares during the period. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at DocuSign

In other DocuSign news, Director Teresa Briggs sold 499 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $52.99, for a total value of $26,442.01. Following the sale, the director now owns 6,169 shares in the company, valued at $326,895.31. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Allan C. Thygesen sold 8,086 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $56.16, for a total transaction of $454,109.76. Following the sale, the chief executive officer now directly owns 99,546 shares of the company’s stock, valued at approximately $5,590,503.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Teresa Briggs sold 499 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $52.99, for a total transaction of $26,442.01. Following the sale, the director now owns 6,169 shares of the company’s stock, valued at $326,895.31. The disclosure for this sale can be found here. Insiders sold a total of 55,277 shares of company stock valued at $3,159,756 in the last three months. Company insiders own 1.66% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on DOCU shares. Royal Bank of Canada reiterated a “sector perform” rating and issued a $59.00 price objective on shares of DocuSign in a research report on Friday, April 12th. UBS Group raised shares of DocuSign from a “sell” rating to a “neutral” rating and increased their price target for the company from $48.00 to $62.00 in a research report on Friday, April 12th. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a research report on Friday, April 12th. Wells Fargo & Company dropped their target price on shares of DocuSign from $55.00 to $45.00 and set an “underweight” rating for the company in a report on Monday, February 5th. Finally, Morgan Stanley upgraded DocuSign from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $49.00 to $64.00 in a report on Tuesday, January 16th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $60.25.

DocuSign Stock Down 1.4 %

DOCU opened at $57.51 on Thursday. DocuSign, Inc. has a 52 week low of $38.11 and a 52 week high of $64.76. The stock has a market cap of $11.81 billion, a PE ratio of 159.75, a PEG ratio of 5.17 and a beta of 0.88. The business has a 50 day moving average of $57.61 and a 200-day moving average of $53.66.

DocuSign (NASDAQ:DOCU) last announced its quarterly earnings data on Thursday, March 7th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.09 by $0.06. DocuSign had a return on equity of 13.91% and a net margin of 2.68%. The business had revenue of $712.39 million during the quarter, compared to analyst estimates of $698.05 million. Equities analysts anticipate that DocuSign, Inc. will post 0.87 EPS for the current year.

About DocuSign

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.