California Public Employees Retirement System Has $31.04 Million Position in DocuSign, Inc. (NASDAQ:DOCU)

California Public Employees Retirement System trimmed its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 8.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm 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 reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Kestra Investment Management LLC acquired a new position in DocuSign during the 4th quarter valued at about $30,000. First Horizon Advisors Inc. boosted its holdings in shares of DocuSign by 102.6% in the fourth quarter. First Horizon Advisors Inc. now owns 397 shares of the company's stock valued at $36,000 after acquiring an additional 201 shares in the last quarter. Modus Advisors LLC acquired a new position in shares of DocuSign during the fourth quarter valued at approximately $36,000. Itau Unibanco Holding S.A. bought a new stake in DocuSign during the third quarter worth approximately $28,000. Finally, Avion Wealth raised its holdings in DocuSign by 309.2% during the fourth quarter. Avion Wealth now owns 487 shares of the company's stock worth $43,000 after purchasing an additional 368 shares in the last quarter. 77.64% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on DOCU. Morgan Stanley lifted their price target on DocuSign from $62.00 to $97.00 and gave the company an "equal weight" rating in a research report on Friday, December 6th. Bank of America dropped their price target on shares of DocuSign from $112.00 to $98.00 and set a "neutral" rating on the stock in a research report on Friday, March 14th. Wells Fargo & Company raised their price objective on shares of DocuSign from $70.00 to $73.00 and gave the company an "underweight" rating in a research report on Friday, March 14th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $90.00 target price on shares of DocuSign in a report on Friday, March 14th. Finally, UBS Group cut their target price on shares of DocuSign from $100.00 to $90.00 and set a "neutral" rating for the company in a research note on Friday, March 14th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $95.83.

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Insider Activity

In related news, insider James P. Shaughnessy sold 7,500 shares of the business'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 owns 45,875 shares of the company's stock, valued at approximately $3,730,096.25. The trade was a 14.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Peter Solvik sold 10,000 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was 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 in the company, valued at $13,712,088.78. This represents a 6.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 57,851 shares of company stock worth $4,911,319 in the last ninety days. Corporate insiders own 1.66% of the company's stock.

DocuSign Price Performance

DocuSign stock traded down $5.16 during mid-day trading on Friday, hitting $72.21. The company's stock had a trading volume of 2,881,620 shares, compared to its average volume of 2,695,162. DocuSign, Inc. has a 52-week low of $48.70 and a 52-week high of $107.86. The firm's 50 day moving average is $86.02 and its 200 day moving average is $81.98. The company has a market cap of $14.62 billion, a PE ratio of 14.89, a price-to-earnings-growth ratio of 6.94 and a beta of 1.20.

DocuSign (NASDAQ:DOCU - Get Free Report) last posted its quarterly earnings results on Thursday, March 13th. The company reported $0.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.84 by $0.02. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. The business had revenue of $776.25 million during the quarter, compared to analyst estimates of $760.94 million. During the same period in the prior year, the firm earned $0.76 earnings per share. The firm's revenue was up 9.0% compared to the same quarter last year. As a group, analysts forecast that DocuSign, Inc. will post 1.17 EPS for the current year.

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.