New York State Common Retirement Fund Sells 14,751 Shares of DocuSign, Inc. (NASDAQ:DOCU)

New York State Common Retirement Fund lessened its stake in shares of DocuSign, Inc. (NASDAQ:DOCU) by 9.0% in the fourth quarter, according to its most recent 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 about 0.07% of DocuSign worth $8,884,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Assenagon Asset Management S.A. increased its holdings in DocuSign by 321.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 214,877 shares of the company’s stock worth $9,025,000 after acquiring an additional 163,875 shares during the period. Executive Wealth Management LLC purchased a new stake in shares of DocuSign in the third quarter worth $1,000,000. SG Americas Securities LLC boosted its stake in DocuSign by 93.1% during the fourth quarter. SG Americas Securities LLC now owns 78,423 shares of the company’s stock valued at $4,662,000 after buying an additional 37,801 shares during the period. Charles Schwab Investment Management Inc. grew its position in DocuSign by 77.7% during the third 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 in the last quarter. Finally, Duality Advisers LP bought a new position in DocuSign in the 3rd quarter worth about $1,686,000. 77.64% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a research report on Friday, April 12th. Morgan Stanley raised shares of DocuSign from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $49.00 to $64.00 in a research note on Tuesday, January 16th. JMP Securities restated a “market outperform” rating and set a $84.00 price objective on shares of DocuSign in a research report on Friday, April 12th. UBS Group raised DocuSign from a “sell” rating to a “neutral” rating and increased their target price for the company from $48.00 to $62.00 in a research note on Friday, April 12th. Finally, Wells Fargo & Company dropped their price target on DocuSign from $55.00 to $45.00 and set an “underweight” rating for the company in a research note on Monday, February 5th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $60.25.

Insiders Place Their Bets

In other news, insider Stephen Shute sold 15,109 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $57.02, for a total transaction of $861,515.18. Following the transaction, the insider now directly owns 8,959 shares of the company’s stock, valued at $510,842.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Stephen Shute sold 15,109 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $57.02, for a total value of $861,515.18. Following the completion of the sale, the insider now directly owns 8,959 shares of the company’s stock, valued at approximately $510,842.18. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Allan C. Thygesen sold 7,765 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $53.31, for a total transaction of $413,952.15. Following the completion of the transaction, the chief executive officer now directly owns 104,002 shares of the company’s stock, valued at $5,544,346.62. The disclosure for this sale can be found here. In the last 90 days, insiders sold 47,191 shares of company stock worth $2,705,646. 17.80% of the stock is currently owned by company insiders.

DocuSign Stock Performance

NASDAQ:DOCU opened at $57.30 on Thursday. DocuSign, Inc. has a fifty-two week low of $38.11 and a fifty-two week high of $64.76. The business has a 50 day moving average price of $56.90 and a 200-day moving average price of $53.06. The firm has a market cap of $11.77 billion, a PE ratio of 159.17, a price-to-earnings-growth ratio of 4.94 and a beta of 0.89.

DocuSign (NASDAQ:DOCU) last released its quarterly earnings data on Thursday, March 7th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.06. The firm had revenue of $712.39 million for the quarter, compared to analysts’ expectations of $698.05 million. DocuSign had a net margin of 2.68% and a return on equity of 13.91%. Research analysts predict that DocuSign, Inc. will post 0.87 EPS for the current year.

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.