California Public Employees Retirement System Lowers Stake in DocuSign, Inc. (NASDAQ:DOCU)

California Public Employees Retirement System reduced its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU) by 5.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 353,735 shares of the company’s stock after selling 20,886 shares during the period. California Public Employees Retirement System owned 0.17% of DocuSign worth $21,030,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Capital Analysts LLC lifted its position in DocuSign by 781.7% during the 4th quarter. Capital Analysts LLC now owns 529 shares of the company’s stock valued at $31,000 after acquiring an additional 469 shares during the period. BluePath Capital Management LLC purchased a new position in DocuSign during the 3rd quarter valued at about $32,000. McGlone Suttner Wealth Management Inc. purchased a new position in DocuSign during the 4th quarter valued at about $32,000. Performa Ltd US LLC lifted its position in DocuSign by 50.0% during the 3rd quarter. Performa Ltd US LLC now owns 825 shares of the company’s stock valued at $35,000 after acquiring an additional 275 shares during the period. Finally, Whittier Trust Co. lifted its position in DocuSign by 28.8% during the 4th quarter. Whittier Trust Co. now owns 935 shares of the company’s stock valued at $56,000 after acquiring an additional 209 shares during the period. 77.64% of the stock is owned by hedge funds and other institutional investors.

DocuSign Stock Down 0.3 %

Shares of DOCU stock opened at $57.20 on Monday. The company has a 50 day moving average price of $56.49 and a 200-day moving average price of $52.80. DocuSign, Inc. has a 52 week low of $38.11 and a 52 week high of $64.76. The firm has a market capitalization of $11.75 billion, a PE ratio of 158.89, a P/E/G ratio of 4.94 and a beta of 0.89.

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

Insider Activity at DocuSign

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

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a research report on Friday, April 12th. Royal Bank of Canada restated a “sector perform” rating and set a $59.00 price objective on shares of DocuSign in a research note on Friday, April 12th. UBS Group upgraded shares of DocuSign from a “sell” rating to a “neutral” rating and raised their price objective for the company from $48.00 to $62.00 in a research note on Friday, April 12th. Wells Fargo & Company reduced their price objective on shares of DocuSign from $55.00 to $45.00 and set an “underweight” rating for the company in a research note on Monday, February 5th. Finally, Morgan Stanley upgraded shares of DocuSign from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $49.00 to $64.00 in a research note on Tuesday, January 16th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, DocuSign presently has a consensus rating of “Hold” and an average target price of $60.25.

DocuSign Company 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.