AGF Management Ltd. Makes New Investment in DocuSign, Inc. (NASDAQ:DOCU)

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

A number of other large investors have also modified their holdings of the company. State Street Corp raised its stake in shares of DocuSign by 2.3% in the third quarter. State Street Corp now owns 5,372,939 shares of the company's stock valued at $333,604,000 after purchasing an additional 120,743 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of DocuSign by 1.6% in the third quarter. Geode Capital Management LLC now owns 3,483,184 shares of the company's stock valued at $215,789,000 after purchasing an additional 53,554 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in shares of DocuSign by 5.2% in the third quarter. Thrivent Financial for Lutherans now owns 2,277,312 shares of the company's stock valued at $141,398,000 after purchasing an additional 112,919 shares in the last quarter. FMR LLC raised its stake in shares of DocuSign by 16.8% in the third quarter. FMR LLC now owns 2,192,885 shares of the company's stock valued at $136,156,000 after purchasing an additional 315,073 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in DocuSign by 61.5% in the fourth quarter. Bank of New York Mellon Corp now owns 1,673,612 shares of the company's stock valued at $150,525,000 after acquiring an additional 637,505 shares during the period. 77.64% of the stock is currently owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

A number of brokerages have weighed in on DOCU. Wedbush reiterated a "neutral" rating and issued a $100.00 price target on shares of DocuSign in a research report on Friday. HSBC restated a "reduce" rating on shares of DocuSign in a report on Friday, December 6th. UBS Group decreased their target price on DocuSign from $100.00 to $90.00 and set a "neutral" rating on the stock in a report on Friday. Jefferies Financial Group increased their target price on DocuSign from $80.00 to $95.00 and gave the stock a "buy" rating in a report on Tuesday, December 3rd. Finally, Robert W. Baird increased their target price on DocuSign from $59.00 to $100.00 and gave the stock a "neutral" rating in a report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $95.58.

Insider Transactions at DocuSign

In other DocuSign news, CFO Blake Jeffrey Grayson sold 8,000 shares of the business's stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $86.90, for a total value of $695,200.00. Following the sale, the chief financial officer now owns 77,851 shares in the company, valued at approximately $6,765,251.90. The trade was a 9.32 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Teresa Briggs sold 534 shares of the business'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 sale, the director now owns 8,270 shares in the company, valued at $722,880.70. The trade was a 6.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 96,422 shares of company stock valued at $8,903,395 over the last 90 days. 1.66% of the stock is owned by company insiders.

DocuSign Stock Performance

NASDAQ:DOCU traded up $1.62 during mid-day trading on Tuesday, hitting $85.05. The company had a trading volume of 913,977 shares, compared to its average volume of 2,602,038. The firm has a market cap of $17.18 billion, a P/E ratio of 17.50, a P/E/G ratio of 6.94 and a beta of 1.02. The business's fifty day moving average is $87.82 and its two-hundred day moving average is $79.69. DocuSign, Inc. has a fifty-two week low of $48.70 and a fifty-two week high of $107.86.

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

DocuSign 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.