Teacher Retirement System of Texas Sells 384,253 Shares of Docusign Inc. (NASDAQ:DOCU)

Teacher Retirement System of Texas reduced its holdings in Docusign Inc. (NASDAQ:DOCU - Free Report) by 59.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 263,956 shares of the company's stock after selling 384,253 shares during the period. Teacher Retirement System of Texas owned approximately 0.13% of Docusign worth $21,486,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the business. Bessemer Group Inc. lifted its holdings in Docusign by 27.5% in the first quarter. Bessemer Group Inc. now owns 602 shares of the company's stock valued at $49,000 after buying an additional 130 shares during the period. Citizens Financial Group Inc. RI lifted its holdings in Docusign by 2.3% in the fourth quarter. Citizens Financial Group Inc. RI now owns 5,990 shares of the company's stock valued at $539,000 after buying an additional 133 shares during the period. Rakuten Securities Inc. lifted its holdings in Docusign by 20.9% in the fourth quarter. Rakuten Securities Inc. now owns 797 shares of the company's stock valued at $72,000 after buying an additional 138 shares during the period. M&T Bank Corp raised its holdings in Docusign by 1.3% in the fourth quarter. M&T Bank Corp now owns 10,840 shares of the company's stock worth $975,000 after purchasing an additional 143 shares during the period. Finally, TD Waterhouse Canada Inc. raised its holdings in Docusign by 34.5% in the fourth quarter. TD Waterhouse Canada Inc. now owns 557 shares of the company's stock worth $50,000 after purchasing an additional 143 shares during the period. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on DOCU. Wells Fargo & Company upgraded shares of Docusign from an "underweight" rating to an "equal weight" rating and increased their target price for the stock from $67.00 to $80.00 in a report on Friday, June 13th. HSBC upgraded shares of Docusign from a "reduce" rating to a "hold" rating and set a $70.00 target price on the stock in a report on Friday, April 11th. Citigroup cut their target price on shares of Docusign from $115.00 to $110.00 and set a "buy" rating on the stock in a report on Monday, June 9th. Jefferies Financial Group cut their target price on shares of Docusign from $115.00 to $105.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Finally, JMP Securities reiterated a "market outperform" rating and issued a $124.00 target price on shares of Docusign in a report on Tuesday, June 3rd. Twelve investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $89.77.

Insider Buying and Selling at Docusign

In related news, CEO Allan C. Thygesen sold 40,000 shares of the firm's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $77.51, for a total value of $3,100,400.00. Following the completion of the transaction, the chief executive officer owned 143,983 shares of the company's stock, valued at approximately $11,160,122.33. This trade represents a 21.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Blake Jeffrey Grayson sold 15,143 shares of the firm's stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $74.80, for a total transaction of $1,132,696.40. Following the completion of the transaction, the chief financial officer directly owned 110,723 shares of the company's stock, valued at approximately $8,282,080.40. This trade represents a 12.03% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 86,552 shares of company stock worth $6,592,351 in the last three months. 1.66% of the stock is currently owned by company insiders.

Docusign Stock Down 1.7%

Shares of NASDAQ:DOCU traded down $1.38 during mid-day trading on Monday, reaching $77.64. 2,256,764 shares of the stock were exchanged, compared to its average volume of 2,865,457. The company has a market cap of $15.69 billion, a P/E ratio of 14.68, a P/E/G ratio of 29.49 and a beta of 1.08. Docusign Inc. has a one year low of $48.80 and a one year high of $107.86. The stock's 50 day simple moving average is $82.11 and its 200-day simple moving average is $84.31.

Docusign (NASDAQ:DOCU - Get Free Report) last posted its quarterly earnings data on Thursday, June 5th. The company reported $0.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.81 by $0.09. The business had revenue of $763.65 million during the quarter, compared to the consensus estimate of $748.79 million. Docusign had a return on equity of 14.27% and a net margin of 36.50%. Docusign's quarterly revenue was up 7.6% on a year-over-year basis. During the same period last year, the company earned $0.82 earnings per share. Analysts anticipate that Docusign Inc. will post 1.17 EPS for the current fiscal year.

Docusign declared that its board has authorized a share repurchase plan on Thursday, June 5th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to reacquire up to 6.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's management believes its shares are undervalued.

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.