California Public Employees Retirement System Reduces Holdings in DocuSign, Inc. (NASDAQ:DOCU)

California Public Employees Retirement System reduced its position in DocuSign, Inc. (NASDAQ:DOCU) by 8.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 345,078 shares of the company’s stock after selling 32,143 shares during the period. California Public Employees Retirement System owned approximately 0.17% of DocuSign worth $31,036,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Schroder Investment Management Group boosted its holdings in DocuSign by 8.4% in the fourth quarter. Schroder Investment Management Group now owns 825,227 shares of the company’s stock valued at $75,673,000 after purchasing an additional 64,228 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of DocuSign by 201.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,158,311 shares of the company’s stock valued at $194,118,000 after buying an additional 1,442,639 shares during the last quarter. PARUS FINANCE UK Ltd acquired a new stake in shares of DocuSign during the fourth quarter worth approximately $1,862,000. Allstate Corp bought a new stake in shares of DocuSign in the fourth quarter worth $531,000. Finally, Horizon Investment Services LLC acquired a new stake in DocuSign in the fourth quarter valued at $479,000. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Wedbush reissued a “neutral” rating and issued a $100.00 target price on shares of DocuSign in a research report on Friday, March 14th. Bank of America cut their price objective on DocuSign from $112.00 to $98.00 and set a “neutral” rating on the stock in a research note on Friday, March 14th. Wells Fargo & Company lifted their target price on DocuSign from $70.00 to $73.00 and gave the stock an “underweight” rating in a research report on Friday, March 14th. Jefferies Financial Group dropped their price target on DocuSign from $115.00 to $105.00 and set a “buy” rating on the stock in a research report on Monday. Finally, UBS Group decreased their price objective on shares of DocuSign from $100.00 to $90.00 and set a “neutral” rating for the company in a report on Friday, March 14th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, DocuSign currently has a consensus rating of “Hold” and an average price target of $95.83.

DocuSign Trading Up 0.9 %

Shares of NASDAQ:DOCU opened at $83.40 on Thursday. The firm’s 50 day moving average is $86.67 and its two-hundred day moving average is $81.91. The firm has a market capitalization of $16.89 billion, a P/E ratio of 17.20, a PEG ratio of 6.94 and a beta of 1.02. DocuSign, Inc. has a 52 week low of $48.70 and a 52 week high of $107.86.

DocuSign (NASDAQ:DOCU) last announced its earnings results on Thursday, March 13th. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.02. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The firm had revenue of $776.25 million for the quarter, compared to the consensus estimate of $760.94 million. During the same quarter in the previous year, the business earned $0.76 EPS. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. Analysts predict that DocuSign, Inc. will post 1.17 EPS for the current year.

Insider Activity at DocuSign

In other DocuSign news, insider James P. Shaughnessy sold 7,500 shares of the company’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $81.31, for a total value of $609,825.00. Following the completion of the sale, the insider now directly owns 45,875 shares in the company, valued at $3,730,096.25. This represents a 14.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Robert Chatwani sold 15,706 shares of DocuSign stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $83.19, for a total value of $1,306,582.14. Following the transaction, the insider now owns 76,842 shares in the company, valued at approximately $6,392,485.98. This trade represents a 16.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 57,851 shares of company stock worth $4,911,319 in the last 90 days. Corporate insiders own 1.66% of the company’s stock.

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.