Corebridge Financial Inc. Buys 228,104 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Corebridge Financial Inc. increased its stake in shares of DocuSign, Inc. (NASDAQ:DOCU) by 5,847.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 232,005 shares of the company’s stock after purchasing an additional 228,104 shares during the period. Corebridge Financial Inc.’s holdings in DocuSign were worth $20,867,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Citizens Financial Group Inc. RI grew its position in shares of DocuSign by 2.3% during the 4th quarter. Citizens Financial Group Inc. RI now owns 5,990 shares of the company’s stock valued at $539,000 after acquiring an additional 133 shares during the period. Rakuten Securities Inc. raised its position in shares of DocuSign by 20.9% during the 4th quarter. Rakuten Securities Inc. now owns 797 shares of the company’s stock valued at $72,000 after purchasing an additional 138 shares during the period. Synergy Financial Group LTD lifted its stake in shares of DocuSign by 3.4% during the 4th quarter. Synergy Financial Group LTD now owns 4,241 shares of the company’s stock valued at $381,000 after buying an additional 140 shares in the last quarter. M&T Bank Corp boosted its holdings in DocuSign by 1.3% in the 4th quarter. M&T Bank Corp now owns 10,840 shares of the company’s stock worth $975,000 after buying an additional 143 shares during the period. Finally, Avior Wealth Management LLC increased its stake in DocuSign by 36.5% in the 4th quarter. Avior Wealth Management LLC now owns 542 shares of the company’s stock worth $49,000 after buying an additional 145 shares in the last quarter. Institutional investors own 77.64% of the company’s stock.

Insider Buying and Selling at DocuSign

In other DocuSign news, insider James P. Shaughnessy sold 7,500 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $90.17, for a total value of $676,275.00. Following the transaction, the insider now owns 43,781 shares of the company’s stock, valued at $3,947,732.77. This represents a 14.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Robert Chatwani sold 15,706 shares of the business’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $83.19, for a total transaction of $1,306,582.14. Following the sale, the insider now directly owns 76,842 shares of the company’s stock, valued at $6,392,485.98. This represents a 16.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 97,851 shares of company stock worth $8,579,369 over the last quarter. Insiders own 1.66% of the company’s stock.

DocuSign Trading Up 1.1 %

Shares of NASDAQ DOCU opened at $89.00 on Tuesday. DocuSign, Inc. has a 12-month low of $48.70 and a 12-month high of $107.86. The firm’s 50-day moving average price is $87.52 and its 200-day moving average price is $80.69. The stock has a market capitalization of $18.02 billion, a price-to-earnings ratio of 18.35, a P/E/G ratio of 6.94 and a beta of 1.02.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings data on Thursday, March 13th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.02. The business had revenue of $776.25 million during the quarter, compared to analyst estimates of $760.94 million. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period last year, the company earned $0.76 EPS. On average, equities analysts predict that DocuSign, Inc. will post 1.17 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently commented on DOCU. Robert W. Baird set a $93.00 price objective on DocuSign in a research report on Friday, March 14th. UBS Group dropped their price target on DocuSign from $100.00 to $90.00 and set a “neutral” rating for the company in a research note on Friday, March 14th. JMP Securities reaffirmed a “market outperform” rating and set a $124.00 price objective on shares of DocuSign in a report on Tuesday, January 7th. HSBC reissued a “reduce” rating on shares of DocuSign in a report on Friday, December 6th. Finally, Piper Sandler upped their target price 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. 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 data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $95.00.

DocuSign 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.