Teacher Retirement System of Texas Boosts Stock Position in Docusign Inc. $DOCU

Key Points

• Teacher Retirement System of Texas increased its stake in DocuSign by 54.4% in Q4 to 197,399 shares, owning 0.10% of the company worth about $13.5 million.
• DocuSign beat quarterly estimates (EPS $1.01 vs. $0.95; revenue $836.9M vs. $828.2M) and its board authorized a $2.0 billion share buyback program that could repurchase up to 21% of outstanding shares.
• Insiders have sold 64,673 shares in the last 90 days (about $3.08M), including sales by Robert Chatwani and CRO Paula Hansen, leaving insiders with roughly 1.01% ownership.

Teacher Retirement System of Texas raised its position in shares of Docusign Inc. (NASDAQ:DOCU - Free Report) by 54.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 197,399 shares of the company's stock after purchasing an additional 69,570 shares during the quarter. Teacher Retirement System of Texas owned 0.10% of Docusign worth $13,502,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in DOCU. Central Pacific Bank Trust Division purchased a new position in Docusign during the 4th quarter worth approximately $25,000. True Wealth Design LLC raised its position in Docusign by 105.2% during the 4th quarter. True Wealth Design LLC now owns 433 shares of the company's stock worth $30,000 after buying an additional 222 shares during the last quarter. Aventura Private Wealth LLC purchased a new position in Docusign during the 4th quarter worth approximately $30,000. SJS Investment Consulting Inc. raised its position in Docusign by 5,318.2% during the 3rd quarter. SJS Investment Consulting Inc. now owns 596 shares of the company's stock worth $43,000 after buying an additional 585 shares during the last quarter. Finally, CX Institutional raised its position in Docusign by 5,860.0% during the 3rd quarter. CX Institutional now owns 596 shares of the company's stock worth $43,000 after buying an additional 586 shares during the last quarter. Hedge funds and other institutional investors own 77.64% of the company's stock.

Insider Activity

In other news, insider Robert Chatwani sold 16,696 shares of Docusign stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $48.10, for a total transaction of $803,077.60. Following the completion of the transaction, the insider directly owned 72,458 shares of the company's stock, valued at $3,485,229.80. The trade was a 18.73% 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, CRO Paula Hansen sold 6,000 shares of Docusign stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $46.84, for a total transaction of $281,040.00. Following the transaction, the executive directly owned 79,233 shares of the company's stock, valued at approximately $3,711,273.72. This trade represents a 7.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 64,673 shares of company stock worth $3,077,699. 1.01% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. HSBC set a $53.00 price target on shares of Docusign in a research report on Friday, February 13th. Citizens Jmp reduced their price target on shares of Docusign from $124.00 to $86.00 and set a "market outperform" rating for the company in a research report on Wednesday, March 18th. Piper Sandler reduced their price target on shares of Docusign from $75.00 to $52.00 and set a "neutral" rating for the company in a research report on Wednesday, March 18th. Morgan Stanley reduced their price target on shares of Docusign from $90.00 to $69.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 18th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Docusign from $78.00 to $65.00 and set a "neutral" rating for the company in a research report on Wednesday, March 18th. Three analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $61.40.

Docusign Price Performance

NASDAQ:DOCU opened at $46.22 on Friday. The firm has a market cap of $8.98 billion, a price-to-earnings ratio of 31.23, a price-to-earnings-growth ratio of 1.72 and a beta of 0.99. The company has a 50 day moving average price of $46.43 and a 200-day moving average price of $58.42. Docusign Inc. has a 1-year low of $40.16 and a 1-year high of $94.67.

Docusign (NASDAQ:DOCU - Get Free Report) last posted its earnings results on Tuesday, March 17th. The company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.06. The firm had revenue of $836.86 million during the quarter, compared to analyst estimates of $828.23 million. Docusign had a net margin of 9.60% and a return on equity of 16.86%. The business's quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.86 EPS. On average, sell-side analysts anticipate that Docusign Inc. will post 1.76 earnings per share for the current fiscal year.

Docusign declared that its board has authorized a stock repurchase plan on Tuesday, March 17th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the company to repurchase up to 21% of its shares through open market purchases. Shares buyback plans are often an indication that the company's board of directors believes its shares are undervalued.

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.

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