Allstate Corp Buys Shares of 5,903 DocuSign, Inc. (NASDAQ:DOCU)

Allstate Corp purchased a new position in shares of DocuSign, Inc. (NASDAQ:DOCU) during the fourth quarter, according to 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 hedge funds have also made changes to their positions in DOCU. The Manufacturers Life Insurance Company boosted its stake in DocuSign by 2.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 53,508 shares of the company’s stock valued at $3,322,000 after purchasing an additional 1,248 shares during the period. FMR LLC boosted its position in shares of DocuSign by 16.8% during the third quarter. FMR LLC now owns 2,192,885 shares of the company’s stock worth $136,156,000 after buying an additional 315,073 shares during the period. Townsquare Capital LLC grew its holdings in DocuSign by 3.7% in the 3rd quarter. Townsquare Capital LLC now owns 5,103 shares of the company’s stock worth $317,000 after buying an additional 183 shares in the last quarter. Captrust Financial Advisors increased its position in DocuSign by 92.3% in the 3rd quarter. Captrust Financial Advisors now owns 38,587 shares of the company’s stock valued at $2,396,000 after acquiring an additional 18,518 shares during the period. Finally, Edgestream Partners L.P. bought a new stake in DocuSign during the 3rd quarter valued at $1,190,000. Institutional investors own 77.64% of the company’s stock.

DocuSign Trading Up 1.6 %

NASDAQ DOCU opened at $82.69 on Wednesday. DocuSign, Inc. has a 1 year low of $48.70 and a 1 year high of $107.86. The company has a market cap of $16.74 billion, a PE ratio of 17.05, a PEG ratio of 6.94 and a beta of 1.02. The stock’s 50-day moving average price is $86.84 and its two-hundred day moving average price is $81.90.

DocuSign (NASDAQ:DOCU) last issued its quarterly earnings results on Thursday, March 13th. The company reported $0.86 EPS for the quarter, beating 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 business had revenue of $776.25 million during the quarter, compared to the consensus estimate of $760.94 million. During the same quarter in the prior year, the firm earned $0.76 EPS. The firm’s quarterly revenue was up 9.0% on a year-over-year basis. Research analysts forecast that DocuSign, Inc. will post 1.17 EPS for the current fiscal year.

Insider Activity

In other DocuSign news, CEO Allan C. Thygesen sold 40,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $90.04, for a total transaction of $3,601,600.00. Following the completion of the sale, the chief executive officer now directly owns 156,050 shares in the company, valued at approximately $14,050,742. This trade represents a 20.40 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Blake Jeffrey Grayson sold 16,111 shares of the company’s stock in a transaction dated 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 transaction, the chief financial officer now owns 93,960 shares in the company, valued at $7,817,472. This represents a 14.64 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 97,851 shares of company stock worth $8,579,369. 1.66% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

DOCU has been the topic of a number of research analyst reports. Royal Bank of Canada reissued a “sector perform” rating and set a $90.00 price target on shares of DocuSign in a report on Friday, March 14th. Piper Sandler boosted their price target on shares of DocuSign from $60.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Morgan Stanley increased their price objective on shares of DocuSign from $62.00 to $97.00 and gave the company an “equal weight” rating in a report on Friday, December 6th. Wells Fargo & Company boosted their target price on DocuSign from $70.00 to $73.00 and gave the stock an “underweight” rating in a report on Friday, March 14th. Finally, Citigroup increased their price target on DocuSign from $113.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, March 14th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $95.83.

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.