Mackenzie Financial Corp Grows Stake in DocuSign, Inc. (NASDAQ:DOCU)

Mackenzie Financial Corp lifted its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU) by 90.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 91,950 shares of the company’s stock after acquiring an additional 43,741 shares during the quarter. Mackenzie Financial Corp’s holdings in DocuSign were worth $5,466,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of DOCU. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its position in shares of DocuSign by 440.0% during the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 270 shares of the company’s stock worth $28,000 after acquiring an additional 220 shares during the last quarter. BluePath Capital Management LLC acquired a new position in DocuSign in the third quarter worth about $32,000. McGlone Suttner Wealth Management Inc. acquired a new position in DocuSign in the fourth quarter worth about $32,000. Performa Ltd US LLC grew its stake in DocuSign by 50.0% in the third quarter. Performa Ltd US LLC now owns 825 shares of the company’s stock worth $35,000 after purchasing an additional 275 shares in the last quarter. Finally, Tyler Stone Wealth Management acquired a new position in DocuSign in the second quarter worth about $36,000. 77.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on DOCU. Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a research note on Friday, April 12th. Wells Fargo & Company decreased their target price on DocuSign from $55.00 to $45.00 and set an “underweight” rating for the company in a research note on Monday, February 5th. UBS Group upgraded DocuSign from a “sell” rating to a “neutral” rating and lifted their target price for the company from $48.00 to $62.00 in a research note on Friday, April 12th. JMP Securities restated a “market outperform” rating and issued a $84.00 target price on shares of DocuSign in a research note on Friday, April 12th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $59.00 target price on shares of DocuSign in a research note on Friday, April 12th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, DocuSign presently has an average rating of “Hold” and a consensus price target of $60.25.

Insider Buying and Selling

In related news, CEO Allan C. Thygesen sold 7,680 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $61.27, for a total transaction of $470,553.60. Following the sale, the chief executive officer now owns 111,767 shares of the company’s stock, valued at $6,847,964.09. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Teresa Briggs sold 499 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $52.99, for a total transaction of $26,442.01. Following the sale, the director now owns 6,169 shares of the company’s stock, valued at $326,895.31. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Allan C. Thygesen sold 7,680 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $61.27, for a total value of $470,553.60. Following the sale, the chief executive officer now directly owns 111,767 shares in the company, valued at approximately $6,847,964.09. The disclosure for this sale can be found here. Insiders have sold a total of 54,871 shares of company stock valued at $3,176,199 over the last quarter. Corporate insiders own 17.80% of the company’s stock.

DocuSign Trading Down 2.3 %

Shares of NASDAQ DOCU opened at $55.70 on Friday. The stock has a 50 day simple moving average of $55.90 and a 200-day simple moving average of $52.20. The company has a market cap of $11.44 billion, a PE ratio of 154.73, a P/E/G ratio of 4.99 and a beta of 0.89. DocuSign, Inc. has a 12-month low of $38.11 and a 12-month high of $64.76.

DocuSign (NASDAQ:DOCU) last issued its quarterly earnings data on Thursday, March 7th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.06. DocuSign had a return on equity of 13.91% and a net margin of 2.68%. The business had revenue of $712.39 million during the quarter, compared to the consensus estimate of $698.05 million. Sell-side analysts forecast that DocuSign, Inc. will post 0.86 earnings per share for the current fiscal year.

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.