Public Employees Retirement Association of Colorado Sells 9,800 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Public Employees Retirement Association of Colorado cut its position in shares of DocuSign, Inc. (NASDAQ:DOCUFree Report) by 29.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,023 shares of the company’s stock after selling 9,800 shares during the period. Public Employees Retirement Association of Colorado’s holdings in DocuSign were worth $1,369,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. New York State Teachers Retirement System raised its holdings in shares of DocuSign by 0.9% in the fourth quarter. New York State Teachers Retirement System now owns 18,282 shares of the company’s stock valued at $1,087,000 after acquiring an additional 163 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. increased its position in DocuSign by 2.7% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,975 shares of the company’s stock valued at $415,000 after purchasing an additional 184 shares during the period. Whittier Trust Co. raised its holdings in shares of DocuSign by 28.8% in the 4th quarter. Whittier Trust Co. now owns 935 shares of the company’s stock valued at $56,000 after purchasing an additional 209 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of DocuSign by 0.3% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 83,899 shares of the company’s stock valued at $4,617,000 after purchasing an additional 239 shares in the last quarter. Finally, SeaCrest Wealth Management LLC lifted its position in shares of DocuSign by 2.2% in the 4th quarter. SeaCrest Wealth Management LLC now owns 11,087 shares of the company’s stock worth $606,000 after purchasing an additional 243 shares during the period. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

DocuSign Price Performance

DOCU stock opened at $50.99 on Tuesday. The company has a market capitalization of $10.47 billion, a P/E ratio of 98.06, a price-to-earnings-growth ratio of 4.50 and a beta of 0.89. DocuSign, Inc. has a 12 month low of $38.11 and a 12 month high of $64.76. The firm’s fifty day simple moving average is $57.57 and its 200-day simple moving average is $56.34.

Insider Activity at DocuSign

In other DocuSign news, Director Peter Solvik sold 15,000 shares of DocuSign stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $60.00, for a total transaction of $900,000.00. Following the completion of the transaction, the director now owns 783 shares in the company, valued at approximately $46,980. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Teresa Briggs sold 499 shares of the business’s stock in a transaction on Friday, May 31st. The shares were 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 in the company, valued at approximately $366,206.56. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Peter Solvik sold 15,000 shares of the firm’s stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $60.00, for a total transaction of $900,000.00. Following the sale, the director now owns 783 shares in the company, valued at approximately $46,980. The disclosure for this sale can be found here. Insiders sold 47,512 shares of company stock worth $2,746,767 over the last three months. Company insiders own 1.66% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on DOCU shares. Royal Bank of Canada lowered their target price on DocuSign from $59.00 to $52.00 and set a “sector perform” rating for the company in a report on Friday. Bank of America decreased their price objective on DocuSign from $72.00 to $60.00 and set a “neutral” rating for the company in a research note on Friday. Citigroup cut their target price on DocuSign from $93.00 to $86.00 and set a “buy” rating on the stock in a research note on Wednesday, June 5th. Morgan Stanley decreased their price target on shares of DocuSign from $65.00 to $62.00 and set an “equal weight” rating for the company in a research report on Friday. Finally, JMP Securities restated a “market outperform” rating and issued a $84.00 price target on shares of DocuSign in a report on Friday. Two equities research 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $59.36.

Read Our Latest Analysis on DOCU

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.

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Institutional Ownership by Quarter for DocuSign (NASDAQ:DOCU)

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