DocuSign, Inc. (NASDAQ:DOCU) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System cut its stake in shares of DocuSign, Inc. (NASDAQ:DOCU) by 8.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 345,078 shares of the company’s stock after selling 32,143 shares during the quarter. California Public Employees Retirement System’s holdings in DocuSign were worth $31,036,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Toronto Dominion Bank increased its stake in DocuSign by 30.3% in the 3rd quarter. Toronto Dominion Bank now owns 26,159 shares of the company’s stock worth $1,624,000 after purchasing an additional 6,081 shares in the last quarter. Quantinno Capital Management LP raised its holdings in shares of DocuSign by 39.5% during the third quarter. Quantinno Capital Management LP now owns 201,546 shares of the company’s stock valued at $12,514,000 after acquiring an additional 57,104 shares during the period. Rhumbline Advisers raised its holdings in shares of DocuSign by 118.8% during the fourth quarter. Rhumbline Advisers now owns 608,123 shares of the company’s stock valued at $54,695,000 after acquiring an additional 330,136 shares during the period. KBC Group NV lifted its position in shares of DocuSign by 32.7% in the 4th quarter. KBC Group NV now owns 1,535,107 shares of the company’s stock valued at $138,067,000 after acquiring an additional 378,233 shares in the last quarter. Finally, Jennison Associates LLC acquired a new position in DocuSign in the 4th quarter worth approximately $12,897,000. 77.64% of the stock is owned by institutional investors and hedge funds.

DocuSign Price Performance

DocuSign stock opened at $83.40 on Thursday. DocuSign, Inc. has a one year low of $48.70 and a one year high of $107.86. The company’s fifty day moving average price is $86.67 and its two-hundred day moving average price is $81.91. The company has a market capitalization of $16.89 billion, a price-to-earnings ratio of 17.20, a PEG ratio of 6.94 and a beta of 1.02.

DocuSign (NASDAQ:DOCU) last issued its quarterly earnings data on Thursday, March 13th. The company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.02. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The business had revenue of $776.25 million for the quarter, compared to analyst estimates of $760.94 million. During the same quarter in the prior year, the firm posted $0.76 EPS. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. As a group, sell-side analysts anticipate that DocuSign, Inc. will post 1.17 earnings per share for the current year.

Insider Activity

In other news, CFO Blake Jeffrey Grayson sold 16,111 shares of the company’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $83.20, for a total transaction of $1,340,435.20. Following the completion of the transaction, the chief financial officer now directly owns 93,960 shares in the company, valued at $7,817,472. The trade was a 14.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James P. Shaughnessy sold 7,500 shares of the firm’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $81.31, for a total transaction of $609,825.00. Following the completion of the sale, the insider now owns 45,875 shares in the company, valued at approximately $3,730,096.25. The trade was a 14.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 57,851 shares of company stock valued at $4,911,319 over the last 90 days. 1.66% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

DOCU has been the subject of a number of research analyst reports. Hsbc Global Res upgraded DocuSign to a “moderate sell” rating in a report on Friday, December 6th. Wells Fargo & Company lifted their target price on DocuSign from $70.00 to $73.00 and gave the company an “underweight” rating in a research note on Friday, March 14th. Wedbush reissued a “neutral” rating and issued a $100.00 price target on shares of DocuSign in a research report on Friday, March 14th. HSBC reaffirmed a “reduce” rating on shares of DocuSign in a research report on Friday, December 6th. Finally, Citigroup increased their target price on shares of DocuSign from $113.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, March 14th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, DocuSign has an average rating of “Hold” and a consensus target price of $95.83.

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.