DocuSign, Inc. (NASDAQ:DOCU) Shares Purchased by New York State Teachers Retirement System

New York State Teachers Retirement System raised its stake in DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 894.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 185,850 shares of the company's stock after buying an additional 167,158 shares during the quarter. New York State Teachers Retirement System owned about 0.09% of DocuSign worth $16,715,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of DOCU. Itau Unibanco Holding S.A. acquired a new position in DocuSign in the third quarter valued at about $28,000. Brooklyn Investment Group acquired a new stake in shares of DocuSign during the third quarter worth about $33,000. Modus Advisors LLC acquired a new stake in shares of DocuSign during the fourth quarter worth about $36,000. Avion Wealth lifted its position in shares of 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. Finally, Reston Wealth Management LLC acquired a new stake in shares of DocuSign during the third quarter worth about $47,000. Institutional investors and hedge funds own 77.64% of the company's stock.

Insiders Place Their Bets

In other DocuSign news, CEO Allan C. Thygesen sold 7,763 shares of the business's stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $80.54, for a total transaction of $625,232.02. Following the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel D. Springer sold 581,588 shares of the business's stock in a transaction dated Tuesday, December 10th. The stock was 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 in the company, valued at $87,959,967.20. This represents a 39.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 693,773 shares of company stock worth $66,727,926. Corporate insiders own 1.66% of the company's stock.

DocuSign Stock Down 0.6 %

DocuSign stock traded down $0.53 during mid-day trading on Thursday, hitting $86.20. The company had a trading volume of 1,912,410 shares, compared to its average volume of 2,040,050. The stock has a market cap of $17.41 billion, a price-to-earnings ratio of 17.77, a PEG ratio of 7.03 and a beta of 0.89. DocuSign, Inc. has a 1 year low of $48.70 and a 1 year high of $107.86. The business has a fifty day moving average of $92.10 and a 200 day moving average of $76.20.

Analyst Ratings Changes

Several analysts have recently issued reports on DOCU shares. Needham & Company LLC reissued a "hold" rating on shares of DocuSign in a research report on Tuesday, February 4th. Morgan Stanley increased their price target on shares of DocuSign from $62.00 to $97.00 and gave the stock an "equal weight" rating in a research report on Friday, December 6th. Wells Fargo & Company increased their price target on shares of DocuSign from $50.00 to $70.00 and gave the stock an "underweight" rating in a research report on Friday, December 6th. Robert W. Baird upped their target price on shares of DocuSign from $59.00 to $100.00 and gave the stock a "neutral" rating in a research note on Friday, December 6th. Finally, UBS Group upped their target price on shares of DocuSign from $60.00 to $100.00 and gave the stock a "neutral" rating in a research note on Friday, December 6th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $92.45.

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.