California Public Employees Retirement System Sells 20,886 Shares of DocuSign, Inc. (NASDAQ:DOCU)

California Public Employees Retirement System lessened its stake in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 5.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 353,735 shares of the company's stock after selling 20,886 shares during the quarter. California Public Employees Retirement System owned 0.17% of DocuSign worth $21,030,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Capital Analysts LLC increased its holdings in DocuSign by 781.7% during the 4th quarter. Capital Analysts LLC now owns 529 shares of the company's stock valued at $31,000 after purchasing an additional 469 shares in the last quarter. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of DocuSign in the 4th quarter valued at $32,000. BluePath Capital Management LLC acquired a new stake in shares of DocuSign in the 3rd quarter valued at $32,000. Performa Ltd US LLC increased its stake in shares of DocuSign by 50.0% in the 3rd quarter. Performa Ltd US LLC now owns 825 shares of the company's stock valued at $35,000 after buying an additional 275 shares during the period. Finally, Whittier Trust Co. increased its stake 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 buying an additional 209 shares during the period. Institutional investors own 77.64% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on DOCU. Wells Fargo & Company decreased their price objective on DocuSign from $55.00 to $45.00 and set an "underweight" rating for the company in a research note on Monday, February 5th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $59.00 price objective on shares of DocuSign in a research note on Friday, April 12th. UBS Group raised DocuSign from a "sell" rating to a "neutral" rating and lifted their price objective for the stock from $48.00 to $62.00 in a research note on Friday, April 12th. JMP Securities reiterated a "market outperform" rating and set a $84.00 target price on shares of DocuSign in a report on Friday, April 12th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of DocuSign in a report on Friday, April 12th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, DocuSign presently has an average rating of "Hold" and an average target price of $60.25.

DocuSign Trading Down 0.2 %

Shares of DocuSign stock traded down $0.10 during trading on Monday, reaching $57.10. The stock had a trading volume of 876,984 shares, compared to its average volume of 3,229,809. The company has a market capitalization of $11.73 billion, a price-to-earnings ratio of 159.25, a P/E/G ratio of 4.94 and a beta of 0.89. The stock has a fifty day moving average price of $56.49 and a two-hundred day moving average price of $52.80. DocuSign, Inc. has a 52 week low of $38.11 and a 52 week high of $64.76.

DocuSign (NASDAQ:DOCU - Get Free Report) last issued its quarterly earnings results on Thursday, March 7th. The company reported $0.15 EPS for the quarter, beating analysts' consensus estimates of $0.09 by $0.06. The company had revenue of $712.39 million for the quarter, compared to analyst estimates of $698.05 million. DocuSign had a return on equity of 13.91% and a net margin of 2.68%. On average, equities analysts forecast that DocuSign, Inc. will post 0.87 EPS for the current fiscal year.

Insider Activity

In related news, CEO Allan C. Thygesen sold 7,680 shares of the company's stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $61.27, for a total transaction of $470,553.60. Following the sale, the chief executive officer now owns 111,767 shares in the company, valued at $6,847,964.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Peter Solvik sold 15,000 shares of the company's 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 sale, the director now owns 783 shares in the company, valued at $46,980. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Allan C. Thygesen sold 7,680 shares of the business'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 value of $470,553.60. Following the transaction, the chief executive officer now directly owns 111,767 shares in the company, valued at approximately $6,847,964.09. The disclosure for this sale can be found here. Insiders have sold a total of 54,871 shares of company stock worth $3,176,199 over the last three months. Corporate insiders own 17.80% of the company's stock.

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.