Corebridge Financial Inc. Increases Position in DocuSign, Inc. (NASDAQ:DOCU)

Corebridge Financial Inc. raised its position in shares of DocuSign, Inc. (NASDAQ:DOCU) by 5,847.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 232,005 shares of the company’s stock after purchasing an additional 228,104 shares during the period. Corebridge Financial Inc. owned approximately 0.11% of DocuSign worth $20,867,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Natixis Advisors LLC bought a new stake in DocuSign in the 3rd quarter worth approximately $873,000. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of DocuSign in the 3rd quarter worth approximately $312,000. Commerce Bank boosted its stake in shares of DocuSign by 3.6% in the 3rd quarter. Commerce Bank now owns 9,852 shares of the company’s stock valued at $612,000 after purchasing an additional 341 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of DocuSign by 1.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 32,391 shares of the company’s stock valued at $2,011,000 after purchasing an additional 447 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in DocuSign by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,328,355 shares of the company’s stock worth $82,478,000 after purchasing an additional 16,014 shares during the period. Institutional investors own 77.64% of the company’s stock.

DocuSign Stock Up 1.1 %

NASDAQ DOCU opened at $89.00 on Tuesday. The firm has a market capitalization of $18.02 billion, a PE ratio of 18.35, a P/E/G ratio of 6.94 and a beta of 1.02. The stock’s 50 day moving average is $87.52 and its 200 day moving average is $80.69. DocuSign, Inc. has a twelve month low of $48.70 and a twelve month high of $107.86.

DocuSign (NASDAQ:DOCU) last issued its quarterly earnings results 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. The company had revenue of $776.25 million during the quarter, compared to analyst estimates of $760.94 million. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. DocuSign’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period last year, the business earned $0.76 EPS. On average, research analysts anticipate that DocuSign, Inc. will post 1.17 earnings per share for the current year.

Insider Buying and Selling

In other DocuSign news, insider James P. Shaughnessy sold 7,500 shares of DocuSign stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $90.17, for a total value of $676,275.00. Following the completion of the transaction, the insider now directly owns 43,781 shares of the company’s stock, valued at approximately $3,947,732.77. The trade was a 14.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Teresa Briggs sold 534 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $87.41, for a total transaction of $46,676.94. Following the sale, the director now owns 8,270 shares in the company, valued at approximately $722,880.70. The trade was a 6.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 97,851 shares of company stock worth $8,579,369 in the last 90 days. Insiders own 1.66% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on DOCU. Robert W. Baird set a $93.00 price target on shares of DocuSign in a research report on Friday, March 14th. Jefferies Financial Group raised their price target on DocuSign from $80.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Wells Fargo & Company boosted their price objective on DocuSign from $70.00 to $73.00 and gave the company an “underweight” rating in a research report on Friday, March 14th. HSBC restated a “reduce” rating on shares of DocuSign in a report on Friday, December 6th. Finally, UBS Group lowered their price target on shares of DocuSign from $100.00 to $90.00 and set a “neutral” rating for the company in a report on Friday, March 14th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $95.00.

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.