State of Alaska Department of Revenue Has $2.08 Million Stock Position in DocuSign, Inc. (NASDAQ:DOCU)

State of Alaska Department of Revenue increased its stake in DocuSign, Inc. (NASDAQ:DOCU) by 494.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,145 shares of the company’s stock after acquiring an additional 19,250 shares during the quarter. State of Alaska Department of Revenue’s holdings in DocuSign were worth $2,081,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Truist Financial Corp lifted its stake in DocuSign by 18.1% in the second quarter. Truist Financial Corp now owns 9,138 shares of the company’s stock valued at $489,000 after buying an additional 1,399 shares during the period. Park Avenue Securities LLC acquired a new position in DocuSign in the third quarter valued at approximately $231,000. CWM LLC lifted its stake in DocuSign by 3.0% in the third quarter. CWM LLC now owns 32,027 shares of the company’s stock valued at $1,989,000 after buying an additional 945 shares during the period. Livforsakringsbolaget Skandia Omsesidigt lifted its stake in DocuSign by 400.0% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,500 shares of the company’s stock valued at $93,000 after buying an additional 1,200 shares during the period. Finally, Inspire Investing LLC acquired a new position in DocuSign in the third quarter valued at approximately $911,000. 77.64% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at DocuSign

In other DocuSign news, CEO Allan C. Thygesen sold 7,763 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $80.54, for a total value of $625,232.02. Following the completion of the transaction, the chief executive officer now owns 100,062 shares in the company, valued at $8,058,993.48. This represents a 7.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Peter Solvik sold 10,000 shares of the company’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $91.26, for a total value of $912,600.00. Following the completion of the transaction, the director now owns 150,253 shares of the company’s stock, valued at $13,712,088.78. This trade represents a 6.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 685,773 shares of company stock worth $66,032,726 in the last quarter. 1.66% of the stock is currently owned by company insiders.

DocuSign Price Performance

Shares of NASDAQ:DOCU opened at $90.86 on Tuesday. The company has a market capitalization of $18.36 billion, a PE ratio of 18.73, a price-to-earnings-growth ratio of 7.56 and a beta of 0.89. The business has a fifty day moving average price of $92.58 and a two-hundred day moving average price of $74.47. DocuSign, Inc. has a 1 year low of $48.70 and a 1 year high of $107.86.

Analyst Ratings Changes

Several equities analysts have issued reports on DOCU shares. Jefferies Financial Group boosted their price target on DocuSign from $80.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Citigroup boosted their price objective on DocuSign from $87.00 to $113.00 and gave the company a “buy” rating in a report on Friday, December 6th. Wells Fargo & Company boosted their price objective on DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a report on Friday, December 6th. UBS Group boosted their price objective on DocuSign from $60.00 to $100.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Finally, Piper Sandler boosted their price objective on DocuSign from $60.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, DocuSign has an average rating of “Hold” and an average price target of $92.45.

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.