DocuSign, Inc. (NASDAQ:DOCU) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lowered its stake in shares of DocuSign, Inc. (NASDAQ:DOCU) by 0.3% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 75,639 shares of the company’s stock after selling 202 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in DocuSign were worth $4,696,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Massmutual Trust Co. FSB ADV grew its stake in shares of DocuSign by 5,000.0% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company’s stock valued at $27,000 after buying an additional 500 shares during the period. Mather Group LLC. lifted its holdings in DocuSign by 4,338.5% in the second quarter. Mather Group LLC. now owns 577 shares of the company’s stock valued at $31,000 after acquiring an additional 564 shares during the last quarter. Reston Wealth Management LLC purchased a new position in DocuSign in the third quarter worth approximately $47,000. nVerses Capital LLC acquired a new stake in DocuSign during the second quarter worth $48,000. Finally, Quarry LP purchased a new stake in DocuSign in the second quarter valued at $53,000. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a report on Friday, September 6th. Robert W. Baird increased their target price on shares of DocuSign from $55.00 to $59.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. JMP Securities reissued a “market outperform” rating and issued a $84.00 price target on shares of DocuSign in a research note on Thursday, September 5th. Citigroup upped their price objective on shares of DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Finally, Wells Fargo & Company lifted their target price on shares of DocuSign from $48.00 to $50.00 and gave the company an “underweight” rating in a report on Friday, September 6th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $63.40.

DocuSign Stock Up 1.5 %

DocuSign stock opened at $82.47 on Wednesday. DocuSign, Inc. has a 52-week low of $40.64 and a 52-week high of $82.97. The firm has a market cap of $16.74 billion, a PE ratio of 17.40, a price-to-earnings-growth ratio of 8.40 and a beta of 0.90. The company’s 50 day moving average is $65.20 and its two-hundred day moving average is $58.85.

DocuSign (NASDAQ:DOCU) last announced its quarterly earnings data on Thursday, September 5th. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.17. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. The business had revenue of $736.03 million for the quarter, compared to analysts’ expectations of $727.20 million. During the same period last year, the firm earned $0.09 earnings per share. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. On average, equities research analysts anticipate that DocuSign, Inc. will post 1.01 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Allan C. Thygesen sold 7,725 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $59.09, for a total transaction of $456,470.25. Following the sale, the chief executive officer now directly owns 102,193 shares in the company, valued at approximately $6,038,584.37. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Allan C. Thygesen sold 7,725 shares of DocuSign stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $59.09, for a total value of $456,470.25. Following the completion of the transaction, the chief executive officer now owns 102,193 shares in the company, valued at $6,038,584.37. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Allan C. Thygesen sold 7,648 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $62.47, for a total transaction of $477,770.56. Following the completion of the sale, the chief executive officer now directly owns 115,589 shares in the company, valued at approximately $7,220,844.83. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 69,558 shares of company stock worth $4,272,768. 1.66% of the stock is currently owned by company insiders.

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.