AGF Management Ltd. Invests $418,000 in DocuSign, Inc. (NASDAQ:DOCU)

AGF Management Ltd. purchased a new stake in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 4,647 shares of the company's stock, valued at approximately $418,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Apollon Wealth Management LLC bought a new position in shares of DocuSign in the third quarter worth about $203,000. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of DocuSign by 10.4% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 475,113 shares of the company's stock worth $29,500,000 after acquiring an additional 44,615 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of DocuSign by 211.4% in the third quarter. Victory Capital Management Inc. now owns 409,877 shares of the company's stock worth $25,449,000 after acquiring an additional 278,252 shares during the last quarter. Oppenheimer Asset Management Inc. raised its stake in shares of DocuSign by 9.7% in the third quarter. Oppenheimer Asset Management Inc. now owns 5,442 shares of the company's stock worth $338,000 after acquiring an additional 481 shares during the last quarter. Finally, Metis Global Partners LLC bought a new position in shares of DocuSign in the third quarter worth about $224,000. 77.64% of the stock is owned by institutional investors.

DocuSign Price Performance

Shares of DocuSign stock traded up $0.60 on Wednesday, hitting $85.61. The company had a trading volume of 2,860,550 shares, compared to its average volume of 2,610,252. The firm has a market capitalization of $17.30 billion, a P/E ratio of 17.65, a P/E/G ratio of 6.94 and a beta of 1.02. DocuSign, Inc. has a twelve month low of $48.70 and a twelve month high of $107.86. The stock has a 50-day moving average of $87.75 and a 200-day moving average of $79.87.

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DocuSign (NASDAQ:DOCU - Get Free Report) last released its quarterly earnings results on Thursday, March 13th. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.02. The company had revenue of $776.25 million during the quarter, compared to analysts' expectations of $760.94 million. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. The business's quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.76 earnings per share. Equities analysts predict that DocuSign, Inc. will post 1.17 EPS for the current year.

Analyst Upgrades and Downgrades

DOCU has been the subject of a number of research analyst reports. Piper Sandler boosted their target price on shares of DocuSign from $60.00 to $90.00 and gave the stock a "neutral" rating in a research note on Friday, December 6th. UBS Group lowered their price target on shares of DocuSign from $100.00 to $90.00 and set a "neutral" rating for the company in a research report on Friday, March 14th. Needham & Company LLC reiterated a "hold" rating on shares of DocuSign in a research report on Friday, March 14th. Royal Bank of Canada reiterated a "sector perform" rating and set a $90.00 price target on shares of DocuSign in a research report on Friday, March 14th. Finally, Hsbc Global Res upgraded shares of DocuSign to a "moderate sell" rating in a research report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $95.00.

Insider Activity

In other news, Director Teresa Briggs sold 534 shares of the company's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $87.41, for a total value of $46,676.94. Following the completion of the transaction, the director now owns 8,270 shares in the company, valued at $722,880.70. This represents a 6.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider James P. Shaughnessy sold 7,500 shares of the company's stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $90.17, for a total transaction of $676,275.00. Following the completion of the transaction, the insider now owns 43,781 shares of the company's stock, valued at $3,947,732.77. This trade represents a 14.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,034 shares of company stock worth $5,932,352 over the last quarter. 1.66% of the stock is currently owned by company insiders.

DocuSign Company 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.