DocuSign, Inc. (NASDAQ:DOCU) Shares Acquired by New York State Common Retirement Fund

New York State Common Retirement Fund raised its position in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 127.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 248,577 shares of the company's stock after acquiring an additional 139,340 shares during the quarter. New York State Common Retirement Fund owned approximately 0.12% of DocuSign worth $22,357,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Creative Planning raised its stake in DocuSign by 5.6% in the 3rd quarter. Creative Planning now owns 14,453 shares of the company's stock valued at $897,000 after purchasing an additional 766 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of DocuSign by 1,355.9% during the third quarter. Blue Trust Inc. now owns 1,485 shares of the company's stock worth $92,000 after buying an additional 1,383 shares in the last quarter. Raymond James & Associates raised its position in shares of DocuSign by 16.3% in the third quarter. Raymond James & Associates now owns 166,406 shares of the company's stock valued at $10,332,000 after buying an additional 23,269 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of DocuSign by 2,194.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 105,688 shares of the company's stock worth $6,562,000 after buying an additional 101,082 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its position in DocuSign by 5,660.8% during the third quarter. International Assets Investment Management LLC now owns 438,914 shares of the company's stock worth $27,252,000 after acquiring an additional 431,295 shares during the last quarter. Hedge funds and other institutional investors own 77.64% of the company's stock.

DocuSign Trading Down 2.4 %

NASDAQ DOCU traded down $2.00 during trading hours on Tuesday, reaching $81.69. The company had a trading volume of 2,507,924 shares, compared to its average volume of 2,050,713. DocuSign, Inc. has a 1-year low of $48.70 and a 1-year high of $107.86. The stock has a market capitalization of $16.50 billion, a P/E ratio of 16.84, a price-to-earnings-growth ratio of 6.94 and a beta of 0.89. The stock has a 50-day moving average of $91.12 and a 200 day moving average of $77.29.

Wall Street Analyst Weigh In

DOCU has been the subject of a number of recent research reports. Jefferies Financial Group increased their price objective on shares of DocuSign from $80.00 to $95.00 and gave the company a "buy" rating in a report on Tuesday, December 3rd. Wells Fargo & Company lifted their price objective on DocuSign from $50.00 to $70.00 and gave the stock an "underweight" rating in a research report on Friday, December 6th. Royal Bank of Canada restated a "sector perform" rating and issued a $90.00 target price (up from $57.00) on shares of DocuSign in a report on Friday, December 6th. Hsbc Global Res upgraded DocuSign to a "moderate sell" rating in a report on Friday, December 6th. Finally, HSBC reissued a "reduce" rating on shares of DocuSign in a research report on Friday, December 6th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $92.45.

Insider Transactions at DocuSign

In other news, Director Daniel D. Springer sold 581,588 shares of DocuSign stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $97.04, for a total value of $56,437,299.52. Following the completion of the sale, the director now directly 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Allan C. Thygesen sold 7,763 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $80.54, for a total value of $625,232.02. Following the transaction, the chief executive officer now directly owns 100,062 shares in the company, valued at approximately $8,058,993.48. The trade was a 7.20 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 693,773 shares of company stock worth $66,727,926. 1.66% of the stock is currently owned by insiders.

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.