DocuSign, Inc. (NASDAQ:DOCU) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System cut its stake in DocuSign, Inc. (NASDAQ:DOCU) by 5.6% in the fourth quarter, Holdings Channel reports. The firm owned 353,735 shares of the company’s stock after selling 20,886 shares during the period. California Public Employees Retirement System’s holdings in DocuSign were worth $21,030,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in DocuSign by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 20,982,387 shares of the company’s stock worth $881,260,000 after purchasing an additional 482,472 shares in the last quarter. AQR Capital Management LLC raised its position in DocuSign by 147.4% during the 3rd quarter. AQR Capital Management LLC now owns 1,908,500 shares of the company’s stock worth $80,157,000 after buying an additional 1,136,948 shares during the last quarter. Jupiter Asset Management Ltd. raised its position in DocuSign by 166.4% during the 3rd quarter. Jupiter Asset Management Ltd. now owns 1,344,703 shares of the company’s stock worth $56,478,000 after buying an additional 839,883 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in DocuSign by 77.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,215,650 shares of the company’s stock worth $51,057,000 after buying an additional 531,682 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its position in DocuSign by 32.7% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 724,314 shares of the company’s stock worth $30,421,000 after buying an additional 178,299 shares during the last quarter. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Allan C. Thygesen sold 7,680 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $61.27, for a total value of $470,553.60. Following the completion of the sale, the chief executive officer now owns 111,767 shares of the company’s stock, valued at approximately $6,847,964.09. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other DocuSign news, CEO Allan C. Thygesen sold 7,680 shares of DocuSign stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $61.27, for a total transaction of $470,553.60. Following the sale, the chief executive officer now owns 111,767 shares of the company’s stock, valued at approximately $6,847,964.09. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Teresa Briggs sold 499 shares of DocuSign stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $52.99, for a total transaction of $26,442.01. Following the sale, the director now directly owns 6,169 shares in the company, valued at approximately $326,895.31. The disclosure for this sale can be found here. In the last quarter, insiders sold 54,871 shares of company stock valued at $3,176,199. 17.80% of the stock is owned by corporate insiders.

DocuSign Stock Performance

Shares of NASDAQ DOCU opened at $57.20 on Monday. The firm has a market cap of $11.75 billion, a PE ratio of 158.89, a PEG ratio of 4.94 and a beta of 0.89. The firm has a fifty day moving average of $56.49 and a 200 day moving average of $52.80. DocuSign, Inc. has a one year low of $38.11 and a one year high of $64.76.

DocuSign (NASDAQ:DOCU) last issued its quarterly earnings results on Thursday, March 7th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.09 by $0.06. The company had revenue of $712.39 million during the quarter, compared to analyst estimates of $698.05 million. DocuSign had a net margin of 2.68% and a return on equity of 13.91%. On average, equities analysts predict that DocuSign, Inc. will post 0.87 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have issued reports on DOCU. Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a research report on Friday, April 12th. Morgan Stanley raised shares of DocuSign from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $49.00 to $64.00 in a research report on Tuesday, January 16th. JMP Securities reissued a “market outperform” rating and set a $84.00 price target on shares of DocuSign in a research report on Friday, April 12th. UBS Group raised shares of DocuSign from a “sell” rating to a “neutral” rating and raised their price target for the stock from $48.00 to $62.00 in a research report on Friday, April 12th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $59.00 target price on shares of DocuSign in a report on Friday, April 12th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, DocuSign has an average rating of “Hold” and a consensus target price of $60.25.

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.