Public Employees Retirement Association of Colorado Has $1.14 Million Position in DocuSign, Inc. (NASDAQ:DOCU)

Public Employees Retirement Association of Colorado cut its position in shares of DocuSign, Inc. (NASDAQ:DOCU) by 2.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,332 shares of the company’s stock after selling 546 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in DocuSign were worth $1,141,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Intech Investment Management LLC increased its position in shares of DocuSign by 65.1% during the second quarter. Intech Investment Management LLC now owns 264,566 shares of the company’s stock valued at $14,154,000 after purchasing an additional 104,362 shares during the period. XTX Topco Ltd bought a new stake in DocuSign in the 2nd quarter valued at $2,025,000. Optimist Retirement Group LLC raised its stake in shares of DocuSign by 5.6% in the 2nd quarter. Optimist Retirement Group LLC now owns 4,255 shares of the company’s stock valued at $228,000 after buying an additional 227 shares in the last quarter. Elo Mutual Pension Insurance Co lifted its stake in DocuSign by 1.1% during the second quarter. Elo Mutual Pension Insurance Co now owns 18,848 shares of the company’s stock worth $1,008,000 after purchasing an additional 214 shares during the period. Finally, Blair William & Co. IL raised its holdings in shares of DocuSign by 23.1% in the 2nd quarter. Blair William & Co. IL now owns 469,068 shares of the company’s stock worth $25,095,000 after buying an additional 87,965 shares in the last quarter. 77.64% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on DOCU shares. Royal Bank of Canada boosted their price target on DocuSign from $52.00 to $57.00 and gave the company a “sector perform” rating in a research note on Friday, September 6th. Wells Fargo & Company upped their target price on shares of DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a report on Friday, September 6th. JMP Securities reissued a “market outperform” rating and set a $84.00 price target on shares of DocuSign in a report on Thursday, September 5th. Piper Sandler decreased their price objective 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. Finally, Morgan Stanley cut their target price on shares of DocuSign from $65.00 to $62.00 and set an “equal weight” rating for the company in a research note on Friday, June 7th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $61.45.

Insider Activity

In other DocuSign news, Director Daniel D. Springer sold 70,983 shares of DocuSign stock in a transaction on Monday, August 5th. The shares were sold at an average price of $49.84, for a total transaction of $3,537,792.72. Following the completion of the sale, 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Allan C. Thygesen sold 7,911 shares of DocuSign stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $53.77, for a total transaction of $425,374.47. Following 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Daniel D. Springer sold 70,983 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $49.84, for a total transaction of $3,537,792.72. Following the transaction, the director now owns 891,373 shares of the company’s stock, valued at approximately $44,426,030.32. The disclosure for this sale can be found here. In the last quarter, insiders have sold 446,065 shares of company stock valued at $23,777,163. 1.66% of the stock is currently owned by insiders.

DocuSign Stock Performance

Shares of DOCU opened at $58.66 on Wednesday. The business’s fifty day moving average price is $55.94 and its two-hundred day moving average price is $56.28. The firm has a market capitalization of $12.01 billion, a price-to-earnings ratio of 112.81, a PEG ratio of 5.99 and a beta of 0.93. DocuSign, Inc. has a 52 week low of $38.11 and a 52 week high of $64.76.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings results 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. The business had revenue of $736.03 million for the quarter, compared to analysts’ expectations of $727.20 million. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.09 earnings per share. As a group, research analysts forecast that DocuSign, Inc. will post 0.99 EPS for the current year.

DocuSign Company 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.