New York State Common Retirement Fund Buys 139,340 Shares of DocuSign, Inc. (NASDAQ:DOCU)

New York State Common Retirement Fund boosted its position in shares of DocuSign, Inc. (NASDAQ:DOCU) by 127.6% in the fourth quarter, Holdings Channel reports. The firm owned 248,577 shares of the company’s stock after purchasing an additional 139,340 shares during the period. New York State Common Retirement Fund’s holdings in DocuSign were worth $22,357,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of DOCU. Creative Planning increased its position in shares of 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 buying an additional 766 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of DocuSign by 1,355.9% in the third quarter. Blue Trust Inc. now owns 1,485 shares of the company’s stock worth $92,000 after acquiring an additional 1,383 shares in the last quarter. Raymond James & Associates raised its position in shares of DocuSign by 16.3% during the third quarter. Raymond James & Associates now owns 166,406 shares of the company’s stock worth $10,332,000 after purchasing an additional 23,269 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of DocuSign by 2,194.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 105,688 shares of the company’s stock valued at $6,562,000 after purchasing an additional 101,082 shares in the last quarter. Finally, 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. Institutional investors own 77.64% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. upped their price target on shares of DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a report on Tuesday, December 3rd. JMP Securities restated a “market outperform” rating and issued a $124.00 price target on shares of DocuSign in a report on Tuesday, January 7th. HSBC restated a “reduce” rating on shares of DocuSign in a research note on Friday, December 6th. Robert W. Baird raised their price target 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 raised their target price on shares of DocuSign from $60.00 to $100.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $92.45.

DocuSign Stock Performance

Shares of NASDAQ:DOCU opened at $83.96 on Friday. DocuSign, Inc. has a 52-week low of $48.70 and a 52-week high of $107.86. The company has a market capitalization of $16.96 billion, a P/E ratio of 17.31, a price-to-earnings-growth ratio of 6.98 and a beta of 0.89. The company has a 50-day simple moving average of $91.94 and a 200 day simple moving average of $76.27.

Insider Buying and Selling at DocuSign

In other news, Director Daniel D. Springer sold 581,588 shares of the stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $97.04, for a total value of $56,437,299.52. Following the transaction, the director now directly owns 906,430 shares of the company’s stock, valued at $87,959,967.20. This represents a 39.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Allan C. Thygesen sold 7,763 shares of DocuSign stock in a transaction dated Monday, December 2nd. The stock was 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 of the company’s stock, valued at $8,058,993.48. The trade was a 7.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 693,773 shares of company stock worth $66,727,926 over the last 90 days. Company insiders own 1.66% of the company’s stock.

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.