DocuSign, Inc. (NASDAQ:DOCU) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund lowered its stake in DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 9.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 149,430 shares of the company's stock after selling 14,751 shares during the quarter. New York State Common Retirement Fund owned 0.07% of DocuSign worth $8,884,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. AQR Capital Management LLC increased its stake in DocuSign by 147.4% in the third quarter. AQR Capital Management LLC now owns 1,908,500 shares of the company's stock valued at $80,157,000 after purchasing an additional 1,136,948 shares in the last quarter. Jupiter Asset Management Ltd. increased its position in DocuSign by 166.4% in the 3rd quarter. Jupiter Asset Management Ltd. now owns 1,344,703 shares of the company's stock valued at $56,478,000 after buying an additional 839,883 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in DocuSign by 77.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,215,650 shares of the company's stock worth $51,057,000 after buying an additional 531,682 shares during the period. International Assets Investment Management LLC grew its stake in DocuSign by 4,438.8% in the fourth quarter. International Assets Investment Management LLC now owns 521,912 shares of the company's stock valued at $31,028,000 after acquiring an additional 510,413 shares during the period. Finally, Vanguard Group Inc. grew its stake in DocuSign by 2.4% in the third quarter. Vanguard Group Inc. now owns 20,982,387 shares of the company's stock valued at $881,260,000 after acquiring an additional 482,472 shares during the period. Institutional investors own 77.64% of the company's stock.

Insiders Place Their Bets

In other DocuSign news, Director Peter Solvik sold 15,000 shares of the company's stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $60.00, for a total value of $900,000.00. Following the completion of the transaction, the director now directly owns 783 shares in the company, valued at $46,980. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider James P. Shaughnessy sold 1,800 shares of the firm's stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $57.50, for a total transaction of $103,500.00. Following the completion of the transaction, the insider now owns 46,503 shares in the company, valued at $2,673,922.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Peter Solvik sold 15,000 shares of DocuSign stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $60.00, for a total value of $900,000.00. Following the completion of the sale, the director now directly owns 783 shares in the company, valued at approximately $46,980. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 47,191 shares of company stock worth $2,705,646. Company insiders own 17.80% of the company's stock.

DocuSign Price Performance

Shares of DOCU traded up $1.46 during trading hours on Thursday, hitting $58.76. The stock had a trading volume of 1,066,554 shares, compared to its average volume of 3,160,162. DocuSign, Inc. has a 12 month low of $38.11 and a 12 month high of $64.76. The stock has a fifty day moving average price of $56.90 and a 200 day moving average price of $53.06. The firm has a market capitalization of $12.07 billion, a PE ratio of 162.95, a PEG ratio of 4.89 and a beta of 0.88.

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

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. UBS Group raised shares of DocuSign from a "sell" rating to a "neutral" rating and lifted their price target for the company from $48.00 to $62.00 in a research report on Friday, April 12th. Royal Bank of Canada restated a "sector perform" rating and issued a $59.00 price objective on shares of DocuSign in a research report on Friday, April 12th. Needham & Company LLC reissued a "hold" rating on shares of DocuSign in a report on Friday, April 12th. Morgan Stanley upgraded DocuSign from an "underweight" rating to an "equal weight" rating and raised their price target for the company from $49.00 to $64.00 in a research report on Tuesday, January 16th. Finally, 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. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $60.25.

DocuSign 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.