New Mexico Educational Retirement Board Purchases New Holdings in DocuSign, Inc. (NASDAQ:DOCU)

New Mexico Educational Retirement Board bought a new stake in DocuSign, Inc. (NASDAQ:DOCU - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 41,800 shares of the company's stock, valued at approximately $3,759,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DOCU. KBC Group NV raised its stake in DocuSign by 209.8% during the 3rd quarter. KBC Group NV now owns 1,156,874 shares of the company's stock worth $71,830,000 after buying an additional 783,419 shares during the period. Fiera Capital Corp bought a new stake in shares of DocuSign in the fourth quarter worth about $47,920,000. Caisse DE Depot ET Placement DU Quebec raised its position in shares of DocuSign by 42.4% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,459,580 shares of the company's stock worth $90,625,000 after purchasing an additional 434,312 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of DocuSign by 5,660.8% during the 3rd quarter. International Assets Investment Management LLC now owns 438,914 shares of the company's stock valued at $27,252,000 after purchasing an additional 431,295 shares in the last quarter. Finally, Retirement Systems of Alabama grew its position in shares of DocuSign by 219.3% in the 4th quarter. Retirement Systems of Alabama now owns 466,478 shares of the company's stock valued at $41,955,000 after purchasing an additional 320,383 shares during the period. Institutional investors own 77.64% of the company's stock.

DocuSign Stock Performance

NASDAQ:DOCU traded down $0.61 during mid-day trading on Wednesday, hitting $86.73. The stock had a trading volume of 1,685,317 shares, compared to its average volume of 2,041,891. DocuSign, Inc. has a twelve month low of $48.70 and a twelve month high of $107.86. The stock has a market cap of $17.52 billion, a price-to-earnings ratio of 17.88, a PEG ratio of 7.03 and a beta of 0.89. The company's 50 day simple moving average is $92.27 and its 200 day simple moving average is $76.12.

Insider Activity

In related news, Director Daniel D. Springer sold 581,588 shares of DocuSign stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $97.04, for a total transaction of $56,437,299.52. Following the completion of the sale, the director now owns 906,430 shares of the company's stock, valued at approximately $87,959,967.20. The trade was a 39.08 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Teresa Briggs sold 534 shares of the business's stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $94.60, for a total value of $50,516.40. Following the sale, the director now owns 7,736 shares of the company's stock, valued at approximately $731,825.60. This represents a 6.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 693,773 shares of company stock valued at $66,727,926 over the last three months. Insiders own 1.66% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on DOCU shares. Morgan Stanley raised their target price on shares of DocuSign from $62.00 to $97.00 and gave the stock an "equal weight" rating in a report on Friday, December 6th. Needham & Company LLC reissued a "hold" rating on shares of DocuSign in a research note on Tuesday, February 4th. Piper Sandler upped their price objective on DocuSign from $60.00 to $90.00 and gave the stock a "neutral" rating in a research report on Friday, December 6th. Royal Bank of Canada reissued a "sector perform" rating and issued a $90.00 target price (up previously from $57.00) on shares of DocuSign in a research report on Friday, December 6th. Finally, Hsbc Global Res upgraded DocuSign to a "moderate sell" rating in a research note on Friday, December 6th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus 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.