Docusign Inc. $DOCU Shares Sold by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp lessened its stake in shares of Docusign Inc. (NASDAQ:DOCU) by 29.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 44,486 shares of the company’s stock after selling 18,494 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Docusign were worth $3,465,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. State Street Corp lifted its position in Docusign by 3.0% during the 2nd quarter. State Street Corp now owns 8,074,976 shares of the company’s stock worth $628,960,000 after acquiring an additional 236,494 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Docusign by 1.6% during the second quarter. American Century Companies Inc. now owns 5,564,318 shares of the company’s stock valued at $433,405,000 after purchasing an additional 86,560 shares during the period. Geode Capital Management LLC lifted its position in shares of Docusign by 1.5% during the second quarter. Geode Capital Management LLC now owns 3,985,808 shares of the company’s stock worth $309,910,000 after purchasing an additional 59,941 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Docusign by 18.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,028,505 shares of the company’s stock valued at $165,120,000 after purchasing an additional 318,698 shares during the period. Finally, Wellington Management Group LLP grew its holdings in Docusign by 372.5% during the 1st quarter. Wellington Management Group LLP now owns 1,826,949 shares of the company’s stock valued at $148,714,000 after purchasing an additional 1,440,269 shares in the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.

Docusign Stock Up 2.4%

Shares of Docusign stock opened at $69.40 on Friday. The business has a 50-day moving average price of $68.93 and a 200 day moving average price of $74.18. Docusign Inc. has a fifty-two week low of $63.41 and a fifty-two week high of $99.30. The firm has a market cap of $13.90 billion, a P/E ratio of 48.53, a P/E/G ratio of 3.40 and a beta of 0.98.

Insiders Place Their Bets

In related news, CFO Blake Jeffrey Grayson sold 9,515 shares of the company’s stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $68.33, for a total transaction of $650,159.95. Following the sale, the chief financial officer directly owned 118,213 shares of the company’s stock, valued at approximately $8,077,494.29. This represents a 7.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Teresa Briggs sold 365 shares of the firm’s stock in a transaction on Friday, November 28th. The stock was sold at an average price of $69.19, for a total value of $25,254.35. Following the transaction, the director owned 8,805 shares in the company, valued at $609,217.95. This trade represents a 3.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 87,542 shares of company stock worth $6,097,905. Corporate insiders own 1.01% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Wells Fargo & Company decreased their price objective on shares of Docusign from $85.00 to $75.00 and set an “equal weight” rating for the company in a research report on Friday, December 5th. Weiss Ratings reissued a “hold (c)” rating on shares of Docusign in a report on Wednesday, October 8th. Zacks Research lowered Docusign from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 24th. JMP Securities restated a “market outperform” rating and set a $124.00 price objective on shares of Docusign in a research note on Friday, October 3rd. Finally, Robert W. Baird cut their target price on Docusign from $90.00 to $75.00 and set a “neutral” rating on the stock in a research report on Friday, December 5th. Six equities research analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $86.80.

Docusign 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.