State of Tennessee Department of Treasury Acquires Shares of 83,369 DocuSign, Inc. (NASDAQ:DOCU)

State of Tennessee Department of Treasury bought a new stake in DocuSign, Inc. (NASDAQ:DOCU - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 83,369 shares of the company's stock, valued at approximately $7,498,000.

Several other institutional investors also recently modified their holdings of DOCU. FMR LLC grew its holdings in DocuSign by 178.2% during the 4th quarter. FMR LLC now owns 6,101,024 shares of the company's stock worth $548,726,000 after acquiring an additional 3,908,139 shares during the period. Invesco Ltd. grew its stake in shares of DocuSign by 283.9% during the fourth quarter. Invesco Ltd. now owns 3,447,275 shares of the company's stock worth $310,048,000 after purchasing an additional 2,549,310 shares during the period. Norges Bank bought a new stake in DocuSign in the fourth quarter valued at about $223,196,000. Arrowstreet Capital Limited Partnership lifted its stake in DocuSign by 201.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,158,311 shares of the company's stock valued at $194,118,000 after buying an additional 1,442,639 shares during the period. Finally, Amundi boosted its holdings in DocuSign by 565.8% during the fourth quarter. Amundi now owns 1,379,575 shares of the company's stock worth $123,486,000 after buying an additional 1,172,368 shares during the last quarter. Institutional investors and hedge funds own 77.64% of the company's stock.

DocuSign Stock Down 1.7 %

Shares of DOCU stock traded down $1.42 during trading on Wednesday, reaching $80.85. The company's stock had a trading volume of 252,286 shares, compared to its average volume of 2,732,431. The company has a market cap of $16.37 billion, a price-to-earnings ratio of 16.64, a price-to-earnings-growth ratio of 6.94 and a beta of 1.20. DocuSign, Inc. has a one year low of $48.70 and a one year high of $107.86. The business has a fifty day moving average price of $80.17 and a 200-day moving average price of $83.86.

DocuSign (NASDAQ:DOCU - Get Free Report) last posted its quarterly earnings data on Thursday, March 13th. The company reported $0.86 EPS for the quarter, topping analysts' consensus estimates of $0.84 by $0.02. The company had revenue of $776.25 million during the quarter, compared to the consensus estimate of $760.94 million. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. The company's quarterly revenue was up 9.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.76 EPS. Research 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 8,000 shares of DocuSign stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $76.09, for a total value of $608,720.00. Following the completion of the transaction, the chief financial officer now owns 86,156 shares of the company's stock, valued at $6,555,610.04. This trade represents a 8.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Robert Chatwani sold 15,706 shares of the company's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $83.19, for a total transaction of $1,306,582.14. Following the completion of the sale, the insider now directly owns 76,842 shares in the company, valued at approximately $6,392,485.98. The trade was a 16.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 55,851 shares of company stock worth $4,607,439 over the last ninety days. 1.66% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Morgan Stanley lowered their price target on DocuSign from $97.00 to $92.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Wedbush reiterated a "neutral" rating and issued a $100.00 target price on shares of DocuSign in a report on Friday, March 14th. UBS Group decreased their price target on shares of DocuSign from $90.00 to $85.00 and set a "neutral" rating for the company in a report on Thursday, April 17th. JPMorgan Chase & Co. raised DocuSign from an "underweight" rating to a "neutral" rating and raised their price objective for the stock from $70.00 to $75.00 in a research note on Monday, March 10th. Finally, Bank of America decreased their target price on DocuSign from $112.00 to $98.00 and set a "neutral" rating for the company in a research note on Friday, March 14th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $92.46.

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.