DocuSign, Inc. (NASDAQ:DOCU) Stake Lowered by California State Teachers Retirement System

California State Teachers Retirement System decreased its stake in DocuSign, Inc. (NASDAQ:DOCUFree Report) by 1.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 305,044 shares of the company’s stock after selling 4,924 shares during the period. California State Teachers Retirement System owned 0.15% of DocuSign worth $18,135,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in DOCU. Principal Financial Group Inc. boosted its holdings in shares of DocuSign by 3.6% during the third quarter. Principal Financial Group Inc. now owns 25,027 shares of the company’s stock valued at $1,051,000 after acquiring an additional 859 shares during the period. Kestra Private Wealth Services LLC grew its position in DocuSign by 20.4% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 8,364 shares of the company’s stock worth $351,000 after purchasing an additional 1,417 shares during the last quarter. New York Life Investment Management LLC increased its stake in shares of DocuSign by 80.3% in the third quarter. New York Life Investment Management LLC now owns 25,014 shares of the company’s stock valued at $1,051,000 after purchasing an additional 11,137 shares during the period. Banque Cantonale Vaudoise increased its position in DocuSign by 67.8% in the 3rd quarter. Banque Cantonale Vaudoise now owns 6,030 shares of the company’s stock valued at $252,000 after acquiring an additional 2,437 shares during the period. Finally, Janney Montgomery Scott LLC increased its holdings in shares of DocuSign by 27.5% during the third quarter. Janney Montgomery Scott LLC now owns 29,269 shares of the company’s stock valued at $1,230,000 after purchasing an additional 6,305 shares during the period. Institutional investors and hedge funds own 77.64% of the company’s stock.

DocuSign Price Performance

DOCU stock opened at $54.60 on Friday. DocuSign, Inc. has a 52-week low of $38.11 and a 52-week high of $64.76. The stock has a market capitalization of $11.22 billion, a price-to-earnings ratio of 151.67, a price-to-earnings-growth ratio of 4.60 and a beta of 0.89. The company has a 50-day moving average of $57.86 and a two-hundred day moving average of $56.03.

DocuSign (NASDAQ:DOCUGet Free Report) last announced its quarterly earnings data on Thursday, March 7th. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.06. The business 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%. Equities analysts expect that DocuSign, Inc. will post 0.87 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a research note on Friday, April 12th. Citigroup cut their price objective on DocuSign from $93.00 to $86.00 and set a “buy” rating for the company in a research report on Wednesday. Royal Bank of Canada restated a “sector perform” rating and issued a $59.00 target price on shares of DocuSign in a report on Friday, April 12th. UBS Group raised DocuSign from a “sell” rating to a “neutral” rating and upped their target price for the company from $48.00 to $62.00 in a report on Friday, April 12th. Finally, JMP Securities reissued a “market outperform” rating and issued a $84.00 price target on shares of DocuSign in a research note on Friday, April 12th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, DocuSign currently has a consensus rating of “Hold” and an average price target of $60.17.

View Our Latest Stock Analysis on DocuSign

Insider Transactions at DocuSign

In related news, Director Teresa Briggs sold 499 shares of the firm’s stock in a transaction on Friday, May 31st. The stock was sold at an average price of $54.92, for a total value of $27,405.08. Following the completion of the transaction, the director now directly owns 6,668 shares of the company’s stock, valued at $366,206.56. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider James P. Shaughnessy sold 1,800 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $57.50, for a total value of $103,500.00. Following the completion of the transaction, the insider now directly owns 46,503 shares of the company’s stock, valued at approximately $2,673,922.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Teresa Briggs sold 499 shares of the stock in a transaction on Friday, May 31st. The stock was sold at an average price of $54.92, for a total value of $27,405.08. Following the transaction, the director now owns 6,668 shares of the company’s stock, valued at $366,206.56. The disclosure for this sale can be found here. In the last quarter, insiders have sold 47,512 shares of company stock valued at $2,746,767. 1.66% of the stock is owned by corporate insiders.

About DocuSign

(Free Report)

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.

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Institutional Ownership by Quarter for DocuSign (NASDAQ:DOCU)

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