State of Alaska Department of Revenue Increases Stock Position in Docusign Inc. $DOCU

State of Alaska Department of Revenue boosted its position in shares of Docusign Inc. (NASDAQ:DOCU) by 52.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,535 shares of the company’s stock after purchasing an additional 19,755 shares during the period. State of Alaska Department of Revenue’s holdings in Docusign were worth $4,146,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Centaurus Financial Inc. boosted its position in Docusign by 2.6% in the 2nd quarter. Centaurus Financial Inc. now owns 5,398 shares of the company’s stock valued at $420,000 after buying an additional 136 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its position in shares of Docusign by 31.3% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 595 shares of the company’s stock worth $46,000 after acquiring an additional 142 shares during the last quarter. Total Wealth Planning & Management Inc. lifted its stake in shares of Docusign by 4.8% in the second quarter. Total Wealth Planning & Management Inc. now owns 3,170 shares of the company’s stock worth $247,000 after acquiring an additional 146 shares in the last quarter. Mitchell & Pahl Private Wealth LLC boosted its holdings in Docusign by 0.7% in the third quarter. Mitchell & Pahl Private Wealth LLC now owns 21,422 shares of the company’s stock valued at $1,544,000 after purchasing an additional 149 shares during the last quarter. Finally, Moors & Cabot Inc. grew its stake in Docusign by 5.7% during the 2nd quarter. Moors & Cabot Inc. now owns 2,780 shares of the company’s stock valued at $217,000 after purchasing an additional 150 shares in the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Docusign Stock Performance

NASDAQ DOCU opened at $68.81 on Monday. Docusign Inc. has a one year low of $63.41 and a one year high of $99.30. The company has a 50-day simple moving average of $68.43 and a 200-day simple moving average of $72.90. The firm has a market capitalization of $13.78 billion, a PE ratio of 48.12, a price-to-earnings-growth ratio of 3.39 and a beta of 0.99.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on DOCU. JPMorgan Chase & Co. cut their target price on Docusign from $80.00 to $78.00 and set a “neutral” rating on the stock in a research report on Friday, December 5th. Evercore ISI reduced their price objective on shares of Docusign from $92.00 to $80.00 and set an “in-line” rating on the stock in a research note on Friday, December 5th. Bank of America decreased their price objective on shares of Docusign from $102.00 to $82.00 and set a “neutral” rating for the company in a report on Friday, December 5th. Zacks Research lowered shares of Docusign from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 24th. Finally, Wedbush decreased their price target on Docusign from $85.00 to $75.00 and set a “neutral” rating for the company in a research note on Friday, December 5th. Six research analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company. According to data from MarketBeat.com, Docusign presently has a consensus rating of “Hold” and an average price target of $85.13.

Insider Transactions at Docusign

In other Docusign news, Director James A. Beer sold 450 shares of Docusign stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $68.54, for a total value of $30,843.00. Following the completion of the transaction, the director directly owned 14,478 shares in the company, valued at $992,322.12. The trade was a 3.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CRO Paula Hansen sold 6,000 shares of the stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $67.05, for a total value of $402,300.00. Following the sale, the executive owned 68,970 shares in the company, valued at $4,624,438.50. The trade was a 8.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 45,542 shares of company stock valued at $3,092,260 over the last ninety days. Insiders own 1.01% of the company’s stock.

Docusign Profile

DocuSign, Inc (NASDAQ: DOCU) is a leading provider of electronic signature and digital transaction management solutions. The company’s flagship offering, DocuSign eSignature, enables organizations to send, sign and manage legally binding electronic agreements securely in the cloud. Beyond eSignature, DocuSign’s Agreement Cloud combines contract lifecycle management, document generation, and workflow automation to streamline agreement processes from initiation through execution and storage.

DocuSign’s platform serves a diverse customer base spanning industries such as finance, real estate, healthcare, technology, and government.