State of New Jersey Common Pension Fund D Lowers Stock Position in DocuSign, Inc. (NASDAQ:DOCU)

State of New Jersey Common Pension Fund D reduced its stake in DocuSign, Inc. (NASDAQ:DOCU) by 37.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,841 shares of the company’s stock after selling 45,149 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in DocuSign were worth $4,057,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of DOCU. Coatue Management LLC purchased a new stake in DocuSign in the fourth quarter valued at approximately $288,274,000. Jericho Capital Asset Management L.P. raised its stake in shares of DocuSign by 316.6% during the first quarter. Jericho Capital Asset Management L.P. now owns 3,417,908 shares of the company’s stock worth $203,536,000 after acquiring an additional 2,597,489 shares in the last quarter. Norges Bank purchased a new position in shares of DocuSign during the fourth quarter worth approximately $133,826,000. Vanguard Group Inc. raised its stake in shares of DocuSign by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 21,399,739 shares of the company’s stock worth $1,272,214,000 after acquiring an additional 417,352 shares in the last quarter. Finally, KBC Group NV raised its stake in shares of DocuSign by 119.3% during the fourth quarter. KBC Group NV now owns 739,196 shares of the company’s stock worth $43,945,000 after acquiring an additional 402,084 shares in the last quarter. 77.64% of the stock is owned by hedge funds and other institutional investors.

DocuSign Trading Up 0.2 %

Shares of DocuSign stock opened at $56.76 on Tuesday. The firm has a market capitalization of $11.62 billion, a P/E ratio of 109.15, a P/E/G ratio of 5.99 and a beta of 0.93. The business has a fifty day simple moving average of $55.63 and a two-hundred day simple moving average of $56.11. DocuSign, Inc. has a 12 month low of $38.11 and a 12 month high of $64.76.

DocuSign (NASDAQ:DOCU) last announced its quarterly earnings data on Thursday, September 5th. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.80 by $0.17. The business had revenue of $736.03 million during the quarter, compared to analyst estimates of $727.20 million. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.09 earnings per share. Analysts predict that DocuSign, Inc. will post 0.99 earnings per share for the current year.

Analyst Upgrades and Downgrades

DOCU has been the topic of several research reports. Piper Sandler decreased their price target on shares of DocuSign from $65.00 to $60.00 and set a “neutral” rating on the stock in a research note on Friday, June 7th. Wells Fargo & Company lifted their price target on shares of DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a research note on Friday, September 6th. JMP Securities reissued a “market outperform” rating and set a $84.00 price target on shares of DocuSign in a research note on Thursday, September 5th. Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a research note on Friday, September 6th. Finally, Bank of America lifted their price target on shares of DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $61.45.

Insider Buying and Selling at DocuSign

In other news, CEO Allan C. Thygesen sold 7,911 shares of DocuSign stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $53.77, for a total value of $425,374.47. Following the completion of the transaction, the chief executive officer now owns 117,643 shares of the company’s stock, valued at approximately $6,325,664.11. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Daniel D. Springer sold 70,983 shares of DocuSign stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $49.84, for a total value of $3,537,792.72. Following the completion of the transaction, the director now owns 891,373 shares of the company’s stock, valued at approximately $44,426,030.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Allan C. Thygesen sold 7,911 shares of DocuSign stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $53.77, for a total value of $425,374.47. Following the completion of the transaction, the chief executive officer now directly owns 117,643 shares of the company’s stock, valued at approximately $6,325,664.11. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 480,618 shares of company stock valued at $25,432,336. 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.