AGF Management Ltd. Acquires Shares of 4,647 DocuSign, Inc. (NASDAQ:DOCU)

AGF Management Ltd. bought a new position in DocuSign, Inc. (NASDAQ:DOCU - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 4,647 shares of the company's stock, valued at approximately $418,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DOCU. Itau Unibanco Holding S.A. purchased a new stake in DocuSign during the 3rd quarter valued at about $28,000. Kestra Investment Management LLC purchased a new stake in DocuSign during the 4th quarter valued at about $30,000. Brooklyn Investment Group purchased a new stake in DocuSign during the 3rd quarter valued at about $33,000. Modus Advisors LLC purchased a new stake in DocuSign during the 4th quarter valued at about $36,000. Finally, First Horizon Advisors Inc. grew its position in DocuSign by 102.6% during the 4th quarter. First Horizon Advisors Inc. now owns 397 shares of the company's stock valued at $36,000 after purchasing an additional 201 shares during the last quarter. 77.64% of the stock is owned by hedge funds and other institutional investors.

DocuSign Price Performance

Shares of NASDAQ:DOCU traded up $1.58 during trading on Tuesday, hitting $85.01. The company's stock had a trading volume of 3,243,757 shares, compared to its average volume of 2,609,455. The company has a 50-day moving average of $87.75 and a 200-day moving average of $79.87. DocuSign, Inc. has a 12 month low of $48.70 and a 12 month high of $107.86. The firm has a market cap of $17.17 billion, a price-to-earnings ratio of 17.53, a P/E/G ratio of 6.94 and a beta of 1.02.

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

Insiders Place Their Bets

In other DocuSign news, CFO Blake Jeffrey Grayson sold 15,588 shares of the firm's stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $97.78, for a total transaction of $1,524,194.64. Following the sale, the chief financial officer now owns 85,851 shares in the company, valued at approximately $8,394,510.78. This trade represents a 15.37 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Teresa Briggs sold 534 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $87.41, for a total transaction of $46,676.94. Following the sale, the director now owns 8,270 shares in the company, valued at approximately $722,880.70. The trade was a 6.07 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 96,422 shares of company stock worth $8,903,395. Company insiders own 1.66% of the company's stock.

Wall Street Analyst Weigh In

DOCU has been the topic of several recent analyst reports. JMP Securities reissued a "market outperform" rating and set a $124.00 price objective on shares of DocuSign in a research report on Tuesday, January 7th. William Blair upgraded shares of DocuSign from a "market perform" rating to an "outperform" rating in a research note on Monday. Royal Bank of Canada restated a "sector perform" rating and set a $90.00 target price on shares of DocuSign in a research note on Friday. Morgan Stanley upped their target price on shares of DocuSign from $62.00 to $97.00 and gave the company an "equal weight" rating in a research note on Friday, December 6th. Finally, Hsbc Global Res upgraded shares of DocuSign to a "moderate sell" rating in a research note on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, DocuSign currently has an average rating of "Hold" and an average price target of $95.00.

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.