4,647 Shares in DocuSign, Inc. (NASDAQ:DOCU) Purchased by AGF Management Ltd.

AGF Management Ltd. purchased a new position in shares of DocuSign, Inc. (NASDAQ:DOCU) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 4,647 shares of the company’s stock, valued at approximately $418,000.

Several other hedge funds have also recently added to or reduced their stakes in DOCU. Itau Unibanco Holding S.A. bought a new stake in DocuSign during the third quarter worth about $28,000. Kestra Investment Management LLC bought a new stake in DocuSign during the fourth quarter worth about $30,000. Brooklyn Investment Group bought a new stake in DocuSign during the third quarter worth about $33,000. Modus Advisors LLC bought a new stake in DocuSign during the fourth quarter worth about $36,000. Finally, First Horizon Advisors Inc. lifted its stake in DocuSign by 102.6% during the fourth quarter. First Horizon Advisors Inc. now owns 397 shares of the company’s stock worth $36,000 after purchasing an additional 201 shares during the last quarter. Institutional investors own 77.64% of the company’s stock.

DocuSign Stock Performance

DOCU stock opened at $85.76 on Friday. DocuSign, Inc. has a fifty-two week low of $48.70 and a fifty-two week high of $107.86. The business’s 50 day moving average price is $87.97 and its two-hundred day moving average price is $79.37. The company has a market capitalization of $17.33 billion, a price-to-earnings ratio of 17.68, a price-to-earnings-growth ratio of 6.94 and a beta of 1.02.

DocuSign (NASDAQ:DOCU) last posted its earnings results on Thursday, March 13th. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.02. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The firm had revenue of $776.25 million for the quarter, compared to the consensus estimate of $760.94 million. During the same quarter in the prior year, the business earned $0.76 EPS. The business’s revenue for the quarter was up 9.0% on a year-over-year basis. Sell-side analysts forecast that DocuSign, Inc. will post 1.17 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on DOCU. JPMorgan Chase & Co. raised DocuSign from an “underweight” rating to a “neutral” rating and lifted their price target for the stock from $70.00 to $75.00 in a research note on Monday, March 10th. Robert W. Baird boosted their target price on DocuSign from $59.00 to $100.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Morgan Stanley boosted their target price on DocuSign from $62.00 to $97.00 and gave the company an “equal weight” rating in a research note on Friday, December 6th. Royal Bank of Canada reissued a “sector perform” rating and issued a $90.00 target price on shares of DocuSign in a research note on Friday. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $124.00 price target on shares of DocuSign in a research report on Tuesday, January 7th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, DocuSign presently has a consensus rating of “Hold” and an average price target of $95.58.

Insiders Place Their Bets

In related news, CFO Blake Jeffrey Grayson sold 15,588 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $97.78, for a total value of $1,524,194.64. Following the sale, the chief financial officer now owns 85,851 shares in the company, valued at $8,394,510.78. This represents a 15.37 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Allan C. Thygesen sold 40,000 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $90.04, for a total value of $3,601,600.00. Following the completion of the sale, the chief executive officer now owns 156,050 shares in the company, valued at $14,050,742. The trade was a 20.40 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 104,422 shares of company stock worth $9,665,394. Company insiders own 1.66% of the company’s stock.

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.