New York State Common Retirement Fund Sells 37,193 Shares of DocuSign, Inc. (NASDAQ:DOCU)

New York State Common Retirement Fund reduced its stake in shares of DocuSign, Inc. (NASDAQ:DOCUFree Report) by 18.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 164,181 shares of the company’s stock after selling 37,193 shares during the quarter. New York State Common Retirement Fund’s holdings in DocuSign were worth $6,896,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Capital World Investors raised its position in DocuSign by 128.3% in the first quarter. Capital World Investors now owns 5,683,838 shares of the company’s stock valued at $608,853,000 after purchasing an additional 3,193,727 shares during the last quarter. Vanguard Group Inc. raised its position in DocuSign by 20.3% in the first quarter. Vanguard Group Inc. now owns 17,308,877 shares of the company’s stock valued at $1,854,127,000 after purchasing an additional 2,917,683 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in DocuSign by 256.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,545,176 shares of the company’s stock valued at $148,384,000 after purchasing an additional 1,831,001 shares during the last quarter. Norges Bank bought a new position in DocuSign in the fourth quarter valued at about $99,841,000. Finally, Newlands Management Operations LLC raised its position in DocuSign by 72.5% in the second quarter. Newlands Management Operations LLC now owns 4,122,708 shares of the company’s stock valued at $210,629,000 after purchasing an additional 1,732,574 shares during the last quarter. 77.96% of the stock is owned by institutional investors and hedge funds.

DocuSign Price Performance

NASDAQ DOCU opened at $51.18 on Friday. The business has a 50 day simple moving average of $57.74 and a 200 day simple moving average of $49.38. DocuSign, Inc. has a one year low of $38.11 and a one year high of $69.45. The stock has a market capitalization of $10.44 billion, a P/E ratio of 204.73, a P/E/G ratio of 6.69 and a beta of 0.93.

DocuSign (NASDAQ:DOCUGet Free Report) last released its earnings results on Thursday, December 7th. The company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.63 by $0.16. DocuSign had a return on equity of 14.06% and a net margin of 1.90%. The business had revenue of $700.42 million during the quarter, compared to analysts’ expectations of $690.27 million. During the same quarter last year, the firm posted $0.05 earnings per share. The firm’s revenue was up 8.5% on a year-over-year basis. Equities analysts expect that DocuSign, Inc. will post 0.57 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Allan C. Thygesen sold 7,680 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 111,767 shares of the company’s stock, valued at $6,847,964.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other DocuSign news, insider James P. Shaughnessy sold 1,800 shares of the firm’s stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $54.04, for a total value of $97,272.00. Following the completion of the sale, the insider now owns 33,617 shares of the company’s stock, valued at $1,816,662.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Allan C. Thygesen sold 7,680 shares of the firm’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 value of $470,553.60. Following the completion of the sale, the chief executive officer now directly owns 111,767 shares of the company’s stock, valued at approximately $6,847,964.09. The disclosure for this sale can be found here. Insiders sold 137,292 shares of company stock valued at $8,339,988 over the last 90 days. Company insiders own 17.80% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on DOCU shares. TheStreet upgraded DocuSign from a “d+” rating to a “c-” rating in a research report on Tuesday, December 19th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $50.00 target price on shares of DocuSign in a research report on Friday, January 12th. JMP Securities restated a “market outperform” rating and set a $84.00 price objective on shares of DocuSign in a research report on Monday, January 22nd. Piper Sandler lowered their price objective on DocuSign from $57.00 to $50.00 and set a “neutral” rating for the company in a research report on Friday, December 8th. Finally, JPMorgan Chase & Co. lowered their price objective on DocuSign from $50.00 to $45.00 and set an “underweight” rating for the company in a research report on Friday, December 8th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, DocuSign presently has an average rating of “Hold” and an average price target of $60.00.

View Our Latest Analysis on DocuSign

DocuSign Company Profile

(Free Report)

DocuSign, Inc provides electronic signature solution in the United States and internationally. The company provides DocuSign 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; 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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