Corebridge Financial Inc. Boosts Stock Position in DocuSign, Inc. (NASDAQ:DOCU)

Corebridge Financial Inc. lifted its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 5,847.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 232,005 shares of the company's stock after buying an additional 228,104 shares during the period. Corebridge Financial Inc. owned about 0.11% of DocuSign worth $20,867,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Toronto Dominion Bank grew its stake in shares of DocuSign by 30.3% in the third quarter. Toronto Dominion Bank now owns 26,159 shares of the company's stock worth $1,624,000 after purchasing an additional 6,081 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of DocuSign by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,328,355 shares of the company's stock worth $82,478,000 after acquiring an additional 16,014 shares in the last quarter. Quantinno Capital Management LP raised its holdings in shares of DocuSign by 39.5% in the 3rd quarter. Quantinno Capital Management LP now owns 201,546 shares of the company's stock worth $12,514,000 after acquiring an additional 57,104 shares during the last quarter. Rhumbline Advisers grew its holdings in DocuSign by 118.8% during the fourth quarter. Rhumbline Advisers now owns 608,123 shares of the company's stock worth $54,695,000 after buying an additional 330,136 shares in the last quarter. Finally, KBC Group NV lifted its position in shares of 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 purchasing an additional 378,233 shares in the last quarter. 77.64% of the stock is currently owned by institutional investors.

Remove Ads

DocuSign Stock Performance

DocuSign stock traded down $2.47 during mid-day trading on Friday, hitting $83.18. 1,503,149 shares of the company traded hands, compared to its average volume of 2,689,292. The stock has a fifty day moving average price of $87.18 and a 200-day moving average price of $81.36. The stock has a market cap of $16.84 billion, a price-to-earnings ratio of 17.15, a price-to-earnings-growth ratio of 6.94 and a beta of 1.02. DocuSign, Inc. has a one year low of $48.70 and a one year high of $107.86.

DocuSign (NASDAQ:DOCU - Get Free Report) last announced its earnings results on Thursday, March 13th. The company reported $0.86 earnings per share (EPS) 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 company had revenue of $776.25 million during the quarter, compared to analyst estimates of $760.94 million. During the same period in the previous year, the business earned $0.76 earnings per share. The firm's quarterly revenue was up 9.0% compared to the same quarter last year. Sell-side analysts predict that DocuSign, Inc. will post 1.17 EPS for the current year.

Insider Buying and Selling

In other DocuSign news, CFO Blake Jeffrey Grayson sold 16,111 shares of the business's stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $83.20, for a total value of $1,340,435.20. Following the completion of the sale, the chief financial officer now directly owns 93,960 shares of the company's stock, valued at $7,817,472. The trade was a 14.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider James P. Shaughnessy sold 7,500 shares of the company's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $90.17, for a total transaction of $676,275.00. Following the sale, the insider now owns 43,781 shares of the company's stock, valued at approximately $3,947,732.77. The trade was a 14.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 97,851 shares of company stock worth $8,579,369 in the last quarter. 1.66% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. William Blair upgraded shares of DocuSign from a "market perform" rating to an "outperform" rating in a research note on Monday, March 17th. Bank of America decreased their price target on DocuSign from $112.00 to $98.00 and set a "neutral" rating for the company in a research report on Friday, March 14th. Piper Sandler lifted their price target on DocuSign from $60.00 to $90.00 and gave the stock a "neutral" rating in a report on Friday, December 6th. Wells Fargo & Company upped their price objective on DocuSign from $70.00 to $73.00 and gave the company an "underweight" rating in a research note on Friday, March 14th. Finally, HSBC reissued a "reduce" rating on shares of DocuSign in a research report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus 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.