CANADA LIFE ASSURANCE Co Boosts Stock Holdings in DocuSign, Inc. (NASDAQ:DOCU)

CANADA LIFE ASSURANCE Co increased its holdings in DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 53.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 274,313 shares of the company's stock after acquiring an additional 95,182 shares during the quarter. CANADA LIFE ASSURANCE Co owned approximately 0.14% of DocuSign worth $24,656,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Rhumbline Advisers boosted its holdings in shares of DocuSign by 118.8% in the 4th quarter. Rhumbline Advisers now owns 608,123 shares of the company's stock valued at $54,695,000 after buying an additional 330,136 shares in the last quarter. KBC Group NV lifted its position in DocuSign by 32.7% during the fourth quarter. KBC Group NV now owns 1,535,107 shares of the company's stock valued at $138,067,000 after acquiring an additional 378,233 shares during the last quarter. Jennison Associates LLC acquired a new stake in DocuSign in the fourth quarter valued at approximately $12,897,000. Everence Capital Management Inc. purchased a new position in DocuSign in the fourth quarter worth $720,000. Finally, Principal Financial Group Inc. increased its position in shares of DocuSign by 3,026.7% during the fourth quarter. Principal Financial Group Inc. now owns 546,796 shares of the company's stock worth $49,179,000 after purchasing an additional 529,308 shares in the last quarter. 77.64% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Robert Chatwani sold 15,706 shares of the stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $83.19, for a total transaction of $1,306,582.14. Following the transaction, the insider now owns 76,842 shares in the company, valued at $6,392,485.98. This trade represents a 16.97 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Blake Jeffrey Grayson sold 8,000 shares of the business's stock in a transaction on Friday, February 14th. The stock was sold at an average price of $86.90, for a total transaction of $695,200.00. Following the completion of the sale, the chief financial officer now directly owns 77,851 shares of the company's stock, valued at approximately $6,765,251.90. The trade was a 9.32 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 55,851 shares of company stock worth $4,607,439. Company insiders own 1.66% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on DOCU shares. HSBC raised DocuSign from a "reduce" rating to a "hold" rating and set a $70.00 price objective for the company in a research report on Friday, April 11th. JPMorgan Chase & Co. raised shares of DocuSign from an "underweight" rating to a "neutral" rating and increased their price objective for the company from $70.00 to $75.00 in a research report on Monday, March 10th. Needham & Company LLC reiterated a "hold" rating on shares of DocuSign in a research note on Thursday, April 17th. Morgan Stanley cut their price target on shares of DocuSign from $97.00 to $92.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and set a $90.00 price objective on shares of DocuSign in a research note on Friday, March 14th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, DocuSign has a consensus rating of "Hold" and an average price target of $92.46.

DocuSign Stock Performance

DocuSign stock traded up $3.66 during midday trading on Thursday, hitting $81.67. 2,278,398 shares of the company were exchanged, compared to its average volume of 2,733,005. The business has a fifty day simple moving average of $80.55 and a two-hundred day simple moving average of $83.34. The firm has a market capitalization of $16.54 billion, a PE ratio of 16.84, a price-to-earnings-growth ratio of 6.94 and a beta of 1.20. 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 issued its quarterly earnings data on Thursday, March 13th. The company reported $0.86 EPS for the quarter, topping analysts' consensus estimates of $0.84 by $0.02. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. The business had revenue of $776.25 million for the quarter, compared to analysts' expectations of $760.94 million. During the same quarter last year, the company earned $0.76 EPS. The business's revenue was up 9.0% on a year-over-year basis. As a group, equities analysts expect 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.