Oregon Public Employees Retirement Fund Invests $3.72 Million in DocuSign, Inc. (NASDAQ:DOCU)

Oregon Public Employees Retirement Fund bought a new stake in DocuSign, Inc. (NASDAQ:DOCU) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 41,300 shares of the company’s stock, valued at approximately $3,715,000.

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

Insider Buying and Selling

In other DocuSign news, CFO Blake Jeffrey Grayson sold 8,000 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $86.90, for a total value of $695,200.00. Following the sale, the chief financial officer now owns 77,851 shares in the company, valued at $6,765,251.90. This trade represents a 9.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Allan C. Thygesen sold 7,763 shares of the company’s 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 completion of the transaction, the chief executive officer now owns 100,062 shares in the company, valued at $8,058,993.48. This represents a 7.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 693,773 shares of company stock worth $66,727,926. 1.66% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on DOCU shares. HSBC restated a “reduce” rating on shares of DocuSign in a research report on Friday, December 6th. Piper Sandler boosted their price objective on shares of DocuSign from $60.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Wells Fargo & Company boosted their price target on shares of DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a research report on Friday, December 6th. Hsbc Global Res upgraded shares of DocuSign to a “moderate sell” rating in a report on Friday, December 6th. Finally, Citigroup raised their target price on DocuSign from $87.00 to $113.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Three 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 stock. According to MarketBeat, DocuSign presently has a consensus rating of “Hold” and a consensus target price of $92.45.

DocuSign Stock Performance

Shares of DOCU stock opened at $81.28 on Friday. The stock has a fifty day simple moving average of $90.65 and a two-hundred day simple moving average of $77.36. The firm has a market capitalization of $16.42 billion, a PE ratio of 16.76, a PEG ratio of 6.94 and a beta of 0.89. DocuSign, Inc. has a 52-week low of $48.70 and a 52-week high of $107.86.

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.