VIRGINIA RETIREMENT SYSTEMS ET Al Has $20.88 Million Stake in Docusign Inc. $DOCU

VIRGINIA RETIREMENT SYSTEMS ET Al raised its stake in Docusign Inc. (NASDAQ:DOCU) by 18.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 305,315 shares of the company’s stock after buying an additional 47,000 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Docusign were worth $20,884,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Central Pacific Bank Trust Division acquired a new position in Docusign in the fourth quarter valued at about $25,000. Torren Management LLC acquired a new position in Docusign in the fourth quarter valued at about $28,000. True Wealth Design LLC lifted its stake in Docusign by 105.2% in the fourth quarter. True Wealth Design LLC now owns 433 shares of the company’s stock valued at $30,000 after buying an additional 222 shares during the period. Aventura Private Wealth LLC acquired a new stake in shares of Docusign during the fourth quarter worth about $30,000. Finally, CX Institutional raised its position in shares of Docusign by 5,860.0% during the third quarter. CX Institutional now owns 596 shares of the company’s stock worth $43,000 after purchasing an additional 586 shares during the period. Institutional investors and hedge funds own 77.64% of the company’s stock.

Docusign Stock Performance

NASDAQ:DOCU opened at $45.07 on Thursday. The company has a market cap of $8.76 billion, a PE ratio of 30.45, a PEG ratio of 1.72 and a beta of 0.88. Docusign Inc. has a 52-week low of $40.16 and a 52-week high of $94.67. The stock has a 50-day simple moving average of $46.88 and a 200 day simple moving average of $56.46.

Docusign (NASDAQ:DOCU) last posted its quarterly earnings data on Tuesday, March 17th. The company reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.06. The business had revenue of $836.86 million during the quarter, compared to the consensus estimate of $828.23 million. Docusign had a return on equity of 16.86% and a net margin of 9.60%.Docusign’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period last year, the company earned $0.86 earnings per share. On average, research analysts predict that Docusign Inc. will post 1.76 earnings per share for the current fiscal year.

Docusign declared that its board has authorized a share buyback plan on Tuesday, March 17th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 21% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

DOCU has been the topic of a number of research analyst reports. Bank of America initiated coverage on Docusign in a research report on Tuesday, March 31st. They set an “underperform” rating and a $52.00 price target on the stock. Jefferies Financial Group lowered Docusign from a “buy” rating to a “hold” rating and dropped their price target for the stock from $105.00 to $45.00 in a research report on Monday, February 23rd. Wells Fargo & Company dropped their price target on Docusign from $75.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 18th. Royal Bank Of Canada dropped their price target on Docusign from $70.00 to $55.00 and set a “sector perform” rating on the stock in a research report on Wednesday, March 18th. Finally, Piper Sandler decreased their price objective on Docusign from $75.00 to $52.00 and set a “neutral” rating for the company in a report on Wednesday, March 18th. Three analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $61.40.

Insider Transactions at Docusign

In other Docusign news, insider James P. Shaughnessy sold 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $46.83, for a total value of $561,960.00. Following the completion of the transaction, the insider directly owned 53,631 shares in the company, valued at $2,511,539.73. This trade represents a 18.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robert Chatwani sold 16,696 shares of the firm’s stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $48.10, for a total value of $803,077.60. Following the completion of the transaction, the insider owned 72,458 shares of the company’s stock, valued at approximately $3,485,229.80. This represents a 18.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 64,673 shares of company stock valued at $3,077,699. 1.01% of the stock is owned by insiders.

About Docusign

DocuSign, Inc (NASDAQ: DOCU) is a leading provider of electronic signature and digital transaction management solutions. The company’s flagship offering, DocuSign eSignature, enables organizations to send, sign and manage legally binding electronic agreements securely in the cloud. Beyond eSignature, DocuSign’s Agreement Cloud combines contract lifecycle management, document generation, and workflow automation to streamline agreement processes from initiation through execution and storage.

DocuSign’s platform serves a diverse customer base spanning industries such as finance, real estate, healthcare, technology, and government.