Allstate Corp Makes New Investment in DocuSign, Inc. (NASDAQ:DOCU)

Allstate Corp purchased a new stake in DocuSign, Inc. (NASDAQ:DOCU - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 5,903 shares of the company's stock, valued at approximately $531,000.

Several other large investors have also recently bought and sold shares of DOCU. Itau Unibanco Holding S.A. acquired a new stake in shares of DocuSign during the third quarter worth $28,000. Kestra Investment Management LLC acquired a new stake in DocuSign in the 4th quarter worth about $30,000. Modus Advisors LLC acquired a new stake in DocuSign in the 4th quarter worth about $36,000. First Horizon Advisors Inc. boosted its holdings in DocuSign by 102.6% in 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 period. Finally, Avion Wealth grew its position in shares of DocuSign by 309.2% during the 4th quarter. Avion Wealth now owns 487 shares of the company's stock worth $43,000 after purchasing an additional 368 shares in the last quarter. 77.64% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

DOCU has been the subject of a number of analyst reports. Wedbush reiterated a "neutral" rating and issued a $100.00 price target on shares of DocuSign in a research report on Friday, March 14th. Jefferies Financial Group dropped their price objective on DocuSign from $115.00 to $105.00 and set a "buy" rating for the company in a report on Monday, March 31st. Citigroup upped their target price on DocuSign from $113.00 to $115.00 and gave the company a "buy" rating in a research report on Friday, March 14th. Needham & Company LLC restated a "hold" rating on shares of DocuSign in a research report on Friday, March 14th. Finally, Wells Fargo & Company boosted their price target on DocuSign from $70.00 to $73.00 and gave the company an "underweight" rating in a research note on Friday, March 14th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, DocuSign currently has a consensus rating of "Hold" and a consensus price target of $95.83.

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DocuSign Trading Down 6.7 %

NASDAQ:DOCU traded down $5.16 on Friday, hitting $72.21. The company had a trading volume of 2,881,620 shares, compared to its average volume of 2,695,162. The firm has a 50 day moving average of $86.02 and a two-hundred day moving average of $81.98. The stock has a market capitalization of $14.62 billion, a price-to-earnings ratio of 14.89, a PEG ratio of 6.94 and a beta of 1.20. DocuSign, Inc. has a 52 week low of $48.70 and a 52 week high of $107.86.

DocuSign (NASDAQ:DOCU - Get Free Report) last announced its quarterly earnings results on Thursday, March 13th. The company reported $0.86 EPS for the quarter, beating analysts' consensus estimates 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 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 period in the prior year, the company earned $0.76 EPS. As a group, equities analysts forecast that DocuSign, Inc. will post 1.17 EPS for the current year.

Insider Transactions at DocuSign

In other DocuSign news, 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 transaction of $46,676.94. Following the sale, the director now directly owns 8,270 shares of the company's stock, valued at $722,880.70. The trade was a 6.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider James P. Shaughnessy sold 7,500 shares of the company's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $81.31, for a total transaction of $609,825.00. Following the completion of the transaction, the insider now owns 45,875 shares of the company's stock, valued at approximately $3,730,096.25. This trade represents a 14.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 57,851 shares of company stock worth $4,911,319. Insiders own 1.66% of the company's stock.

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.