Allstate Corp Makes New $531,000 Investment in DocuSign, Inc. (NASDAQ:DOCU)

Allstate Corp purchased a new position in DocuSign, Inc. (NASDAQ:DOCU) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 5,903 shares of the company’s stock, valued at approximately $531,000.

Several other large investors also recently made changes to their positions in the stock. The Manufacturers Life Insurance Company lifted its holdings in DocuSign by 2.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 53,508 shares of the company’s stock worth $3,322,000 after purchasing an additional 1,248 shares during the last quarter. FMR LLC lifted its stake in shares of DocuSign by 16.8% in 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 last quarter. Townsquare Capital LLC boosted its holdings in shares of DocuSign by 3.7% during 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 during the period. Captrust Financial Advisors raised its holdings in DocuSign by 92.3% in the 3rd quarter. Captrust Financial Advisors now owns 38,587 shares of the company’s stock worth $2,396,000 after acquiring an additional 18,518 shares during the period. Finally, Edgestream Partners L.P. acquired a new position in DocuSign during the 3rd quarter worth $1,190,000. Institutional investors own 77.64% of the company’s stock.

Insider Buying and Selling at DocuSign

In other news, insider Robert Chatwani sold 15,706 shares of the business’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $83.19, for a total value of $1,306,582.14. Following the transaction, the insider now directly owns 76,842 shares of the company’s stock, valued at $6,392,485.98. The trade was a 16.97 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Peter Solvik sold 10,000 shares of the firm’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $91.26, for a total value of $912,600.00. Following the sale, the director now directly owns 150,253 shares of the company’s stock, valued at $13,712,088.78. This represents a 6.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 97,851 shares of company stock worth $8,579,369 over the last ninety days. Corporate insiders own 1.66% of the company’s stock.

DocuSign Trading Up 1.6 %

Shares of DOCU opened at $82.69 on Wednesday. The stock has a 50 day simple moving average of $86.84 and a 200-day simple moving average of $81.90. The stock 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. DocuSign, Inc. has a 1 year low of $48.70 and a 1 year high of $107.86.

DocuSign (NASDAQ:DOCU) last released its quarterly earnings data 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 return on equity of 14.90% and a net margin of 34.73%. The firm had revenue of $776.25 million during the quarter, compared to analyst estimates of $760.94 million. During the same period in the prior year, the company posted $0.76 earnings per share. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. On average, sell-side analysts forecast that DocuSign, Inc. will post 1.17 EPS for the current fiscal year.

Analyst Ratings Changes

DOCU has been the topic of a number of recent analyst reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $90.00 price objective on shares of DocuSign in a research note on Friday, March 14th. Wells Fargo & Company upped their price target on DocuSign from $70.00 to $73.00 and gave the stock an “underweight” rating in a report on Friday, March 14th. Wedbush restated a “neutral” rating and issued a $100.00 price objective on shares of DocuSign in a research note on Friday, March 14th. HSBC reiterated a “reduce” rating on shares of DocuSign in a research note on Friday, December 6th. Finally, Jefferies Financial Group decreased their price target on shares of DocuSign from $115.00 to $105.00 and set a “buy” rating on the stock in a research report on Monday. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target 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.