The Manufacturers Life Insurance Company Purchases New Position in Docusign Inc. $DOCU

The Manufacturers Life Insurance Company purchased a new stake in Docusign Inc. (NASDAQ:DOCU) during the second quarter, Holdings Channel reports. The institutional investor purchased 135,217 shares of the company’s stock, valued at approximately $6,006,000.

Several other hedge funds and other institutional investors have also bought and sold shares of DOCU. Modus Advisors LLC bought a new stake in Docusign in the fourth quarter valued at approximately $27,000. Cary Street Partners Investment Advisory LLC raised its holdings in Docusign by 309.5% in 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 bought a new position in shares of Docusign during the fourth quarter worth $39,000. WealthCollab LLC boosted its position in shares of Docusign by 372.4% during the first quarter. WealthCollab LLC now owns 855 shares of the company’s stock worth $41,000 after purchasing an additional 674 shares in the last quarter. Finally, Virtus Advisers LLC acquired a new position in shares of Docusign in the 2nd quarter valued at $47,000. Institutional investors own 77.64% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. UBS Group set a $60.00 price objective on Docusign in a research note on Friday, June 5th. Needham & Company LLC reissued a “hold” rating on shares of Docusign in a research note on Friday, June 5th. Wall Street Zen downgraded Docusign from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 2nd. Bank of America reaffirmed an “underperform” rating on shares of Docusign in a research report on Friday. Finally, Weiss Ratings upgraded Docusign from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 25th. Four analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Docusign currently has an average rating of “Hold” and a consensus target price of $60.27.

Insider Activity

In other news, CEO Allan C. Thygesen sold 26,250 shares of the stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $46.02, for a total transaction of $1,208,025.00. Following the completion of the transaction, the chief executive officer directly owned 159,038 shares in the company, valued at $7,318,928.76. This represents a 14.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Blake Jeffrey Grayson sold 15,000 shares of the firm’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $60.00, for a total value of $900,000.00. Following the completion of the transaction, the chief financial officer owned 126,429 shares of the company’s stock, valued at $7,585,740. The trade was a 10.61% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 90,965 shares of company stock worth $4,341,688. 0.59% of the stock is currently owned by company insiders.

Docusign Stock Up 3.5%

NASDAQ DOCU opened at $66.27 on Tuesday. Docusign Inc. has a 12-month low of $40.16 and a 12-month high of $86.65. The company has a market capitalization of $12.65 billion, a PE ratio of 43.03, a price-to-earnings-growth ratio of 1.86 and a beta of 0.87. The firm’s 50 day moving average is $53.91 and its 200-day moving average is $49.29.

Docusign (NASDAQ:DOCU) last announced its earnings results on Thursday, June 4th. The company reported $1.09 EPS for the quarter, topping the consensus estimate 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 net margin of 9.59% and a return on equity of 17.48%. The firm’s revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.90 earnings per share. As a group, sell-side analysts expect that Docusign Inc. will post 2.06 EPS for the current year.

Docusign Company 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.