California State Teachers Retirement System Has $27.82 Million Stock Position in DocuSign, Inc. (NASDAQ:DOCU)

California State Teachers Retirement System cut its holdings in DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 3.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 309,295 shares of the company's stock after selling 11,075 shares during the quarter. California State Teachers Retirement System owned about 0.15% of DocuSign worth $27,818,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Kestra Investment Management LLC acquired a new stake in shares of DocuSign in the fourth quarter worth $30,000. First Horizon Advisors Inc. lifted its stake in shares of DocuSign by 102.6% in the fourth quarter. First Horizon Advisors Inc. now owns 397 shares of the company's stock worth $36,000 after buying an additional 201 shares during the last quarter. Wood Tarver Financial Group LLC acquired a new stake in shares of DocuSign in the fourth quarter worth $37,000. McIlrath & Eck LLC lifted its stake in shares of DocuSign by 476.0% in the fourth quarter. McIlrath & Eck LLC now owns 432 shares of the company's stock worth $39,000 after buying an additional 357 shares during the last quarter. Finally, Bessemer Group Inc. lifted its stake in shares of DocuSign by 490.0% in the fourth quarter. Bessemer Group Inc. now owns 472 shares of the company's stock worth $42,000 after buying an additional 392 shares during the last quarter. 77.64% of the stock is currently owned by institutional investors and hedge funds.

DocuSign Stock Up 2.4%

DocuSign stock traded up $2.04 on Friday, hitting $87.75. The company's stock had a trading volume of 5,726,500 shares, compared to its average volume of 2,781,333. The firm has a market cap of $17.77 billion, a P/E ratio of 18.09, a price-to-earnings-growth ratio of 6.94 and a beta of 1.21. The company has a fifty day moving average price of $81.62 and a 200-day moving average price of $85.95. DocuSign, Inc. has a one year low of $48.70 and a one year high of $107.86.

DocuSign (NASDAQ:DOCU - Get Free Report) last announced its quarterly earnings results on Thursday, March 13th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.02. The firm had revenue of $776.25 million for the quarter, compared to analyst estimates of $760.94 million. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. The business's revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.76 EPS. Analysts anticipate that DocuSign, Inc. will post 1.17 EPS for the current year.

Insider Buying and Selling at DocuSign

In other news, CFO Blake Jeffrey Grayson sold 16,111 shares of the company's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $83.20, for a total value of $1,340,435.20. Following the sale, the chief financial officer now owns 93,960 shares of the company's stock, valued at approximately $7,817,472. This represents a 14.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Teresa Briggs sold 534 shares of the company's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $87.41, for a total transaction of $46,676.94. Following the completion of the sale, the director now directly owns 8,270 shares in the company, valued at approximately $722,880.70. The trade was a 6.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 47,851 shares of company stock valued at $3,912,239 in the last 90 days. 1.01% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Morgan Stanley lowered their target price on DocuSign from $97.00 to $92.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Bank of America lowered their target price on DocuSign from $112.00 to $98.00 and set a "neutral" rating on the stock in a report on Friday, March 14th. Royal Bank of Canada reiterated a "sector perform" rating and set a $90.00 target price on shares of DocuSign in a research note on Friday, March 14th. JMP Securities reiterated a "market outperform" rating and set a $124.00 target price on shares of DocuSign in a research note on Thursday, April 17th. Finally, HSBC upgraded shares of DocuSign from a "reduce" rating to a "hold" rating and set a $70.00 target price for the company in a research note on Friday, April 11th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $92.46.

About DocuSign

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.