Man Group plc Invests $52.71 Million in Docusign Inc. $DOCU

Man Group plc purchased a new position in Docusign Inc. (NASDAQ:DOCU) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,186,717 shares of the company’s stock, valued at approximately $52,714,000.

Several other hedge funds have also recently bought and sold shares of DOCU. Jupiter Topco LLC acquired a new position in Docusign during the second quarter worth $4,096,000. Hsbc Holdings PLC acquired a new position in shares of Docusign during the 2nd quarter worth $5,156,000. Primecap Management Co. CA acquired a new position in shares of Docusign during the 2nd quarter worth $3,776,000. Canada Pension Plan Investment Board purchased a new stake in shares of Docusign in the 2nd quarter worth about $13,517,000. Finally, Legal & General Group Plc purchased a new stake in shares of Docusign in the 2nd quarter worth about $22,002,000. 77.64% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Docusign

In related news, CRO Paula Hansen sold 6,000 shares of the company’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $45.54, for a total value of $273,240.00. Following the completion of the transaction, the executive directly owned 89,972 shares in the company, valued at approximately $4,097,324.88. This represents a 6.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Blake Jeffrey Grayson sold 15,000 shares of the stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $60.00, for a total value of $900,000.00. Following the transaction, the chief financial officer owned 126,429 shares in the company, valued at $7,585,740. This trade represents a 10.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 91,695 shares of company stock valued at $4,376,002. 0.59% of the stock is currently owned by insiders.

Docusign Stock Performance

Shares of DOCU opened at $60.54 on Wednesday. The company has a market capitalization of $11.56 billion, a price-to-earnings ratio of 39.31, a PEG ratio of 1.83 and a beta of 0.87. The company’s 50 day simple moving average is $52.28 and its 200 day simple moving average is $48.83. Docusign Inc. has a 1 year low of $40.16 and a 1 year high of $86.65.

Docusign (NASDAQ:DOCU) last announced its earnings results on Thursday, June 4th. The company reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.10. The firm had revenue of $830.24 million for the quarter, compared to analyst estimates of $824.71 million. Docusign had a net margin of 9.59% and a return on equity of 17.48%. Docusign’s revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.90 earnings per share. Equities analysts expect that Docusign Inc. will post 2.04 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have weighed in on DOCU. Jefferies Financial Group raised their target price on shares of Docusign from $45.00 to $50.00 and gave the company a “hold” rating in a report on Friday, June 5th. BTIG Research reduced their price target on shares of Docusign from $70.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, June 5th. Wall Street Zen lowered shares of Docusign from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 2nd. Wedbush dropped their price objective on shares of Docusign from $60.00 to $58.00 and set a “neutral” rating for the company in a research note on Friday, June 5th. Finally, Needham & Company LLC restated a “hold” rating on shares of Docusign in a research report on Friday, June 5th. Four investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Docusign has a consensus rating of “Hold” and an average target price of $60.27.

Docusign Profile

DocuSign, Inc (NASDAQ: DOCU) is a leading provider of electronic signature and digital transaction management solutions. The company’s flagship offering, DocuSign eSignature, enables organizations to send, sign and manage legally binding electronic agreements securely in the cloud. Beyond eSignature, DocuSign’s Agreement Cloud combines contract lifecycle management, document generation, and workflow automation to streamline agreement processes from initiation through execution and storage.

DocuSign’s platform serves a diverse customer base spanning industries such as finance, real estate, healthcare, technology, and government.