State of Alaska Department of Revenue Sells 2,875 Shares of DocuSign, Inc. (NASDAQ:DOCU)

State of Alaska Department of Revenue trimmed its position in DocuSign, Inc. (NASDAQ:DOCUFree Report) by 25.2% in the first quarter, according to its most recent filing with the SEC. The fund owned 8,515 shares of the company’s stock after selling 2,875 shares during the period. State of Alaska Department of Revenue’s holdings in DocuSign were worth $507,000 as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of the stock. Vanguard Group Inc. raised its position in DocuSign by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 21,399,739 shares of the company’s stock worth $1,272,214,000 after purchasing an additional 417,352 shares during the last quarter. Coatue Management LLC bought a new position in DocuSign during the 4th quarter worth $288,274,000. Clearbridge Investments LLC raised its position in DocuSign by 4.6% during the 4th quarter. Clearbridge Investments LLC now owns 2,643,464 shares of the company’s stock worth $157,154,000 after purchasing an additional 116,128 shares during the last quarter. Norges Bank bought a new position in DocuSign during the 4th quarter worth $133,826,000. Finally, Charles Schwab Investment Management Inc. raised its position in DocuSign by 3.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,260,296 shares of the company’s stock worth $74,925,000 after purchasing an additional 44,646 shares during the last quarter. 77.64% of the stock is owned by institutional investors.

DocuSign Stock Performance

NASDAQ:DOCU opened at $53.79 on Thursday. The firm has a market cap of $11.01 billion, a price-to-earnings ratio of 103.44, a price-to-earnings-growth ratio of 4.47 and a beta of 0.94. DocuSign, Inc. has a 52 week low of $38.11 and a 52 week high of $64.76. The firm has a 50-day moving average price of $55.18 and a two-hundred day moving average price of $56.43.

DocuSign (NASDAQ:DOCUGet Free Report) last posted its quarterly earnings data on Thursday, June 6th. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.20 by $0.09. The firm had revenue of $709.64 million during the quarter, compared to analyst estimates of $706.07 million. DocuSign had a net margin of 3.81% and a return on equity of 15.44%. As a group, sell-side analysts forecast that DocuSign, Inc. will post 0.88 earnings per share for the current year.

Insider Transactions at DocuSign

In other news, CEO Allan C. Thygesen sold 8,086 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $56.16, for a total transaction of $454,109.76. Following the completion of the sale, the chief executive officer now owns 99,546 shares in the company, valued at approximately $5,590,503.36. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Allan C. Thygesen sold 8,086 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $56.16, for a total transaction of $454,109.76. Following the completion of the sale, the chief executive officer now owns 99,546 shares in the company, valued at approximately $5,590,503.36. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Allan C. Thygesen sold 7,911 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $53.77, for a total transaction of $425,374.47. Following the sale, the chief executive officer now owns 117,643 shares of the company’s stock, valued at approximately $6,325,664.11. The disclosure for this sale can be found here. Insiders sold a total of 117,518 shares of company stock worth $6,149,670 in the last quarter. Insiders own 1.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on DOCU. Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a research report on Friday, June 7th. Citigroup cut their price target on shares of DocuSign from $93.00 to $86.00 and set a “buy” rating on the stock in a research report on Wednesday, June 5th. Bank of America cut their price target on shares of DocuSign from $72.00 to $60.00 and set a “neutral” rating on the stock in a research report on Friday, June 7th. Royal Bank of Canada cut their price target on shares of DocuSign from $59.00 to $52.00 and set a “sector perform” rating on the stock in a research report on Friday, June 7th. Finally, Morgan Stanley cut their price target on shares of DocuSign from $65.00 to $62.00 and set an “equal weight” rating on the stock in a research report on Friday, June 7th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $59.36.

View Our Latest Report on DocuSign

DocuSign Profile

(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.

Read More

Want to see what other hedge funds are holding DOCU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for DocuSign, Inc. (NASDAQ:DOCUFree Report).

Institutional Ownership by Quarter for DocuSign (NASDAQ:DOCU)

Receive News & Ratings for DocuSign Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DocuSign and related companies with MarketBeat.com's FREE daily email newsletter.