Docusign Inc. $DOCU Stock Holdings Cut by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al cut its stake in Docusign Inc. (NASDAQ:DOCU) by 13.0% in the 3rd quarter, Holdings Channel.com reports. The firm owned 63,600 shares of the company’s stock after selling 9,500 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Docusign were worth $4,271,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. purchased a new stake in Docusign in the 2nd quarter worth approximately $927,059,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of Docusign by 76.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 5,285,128 shares of the company’s stock worth $250,568,000 after purchasing an additional 2,283,996 shares during the period. Renaissance Technologies LLC increased its holdings in shares of Docusign by 4.0% in the first quarter. Renaissance Technologies LLC now owns 3,170,061 shares of the company’s stock worth $150,293,000 after purchasing an additional 123,100 shares during the period. Quantinno Capital Management LP raised its position in shares of Docusign by 51.9% in the first quarter. Quantinno Capital Management LP now owns 1,608,631 shares of the company’s stock worth $76,265,000 after buying an additional 549,603 shares in the last quarter. Finally, Bank of America Corp DE raised its position in shares of Docusign by 23.3% in the first quarter. Bank of America Corp DE now owns 1,193,163 shares of the company’s stock worth $56,568,000 after buying an additional 225,801 shares in the last quarter. Institutional investors own 77.64% of the company’s stock.

Insider Buying and Selling at Docusign

In other Docusign news, Director Mary Wilderotter sold 1,000 shares of Docusign stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $68.80, for a total value of $68,800.00. Following the completion of the transaction, the director directly owned 2,199 shares of the company’s stock, valued at approximately $151,291.20. The trade was a 31.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Paula Hansen sold 3,300 shares of the company’s stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $68.81, for a total value of $227,073.00. Following the transaction, the executive directly owned 106,557 shares in the company, valued at approximately $7,332,187.17. The trade was a 3.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 165,868 shares of company stock worth $11,121,890 in the last 90 days. Insiders own 0.59% of the company’s stock.

Docusign Price Performance

DOCU opened at $82.17 on Monday. The firm has a market capitalization of $15.36 billion, a price-to-earnings ratio of 50.10, a PEG ratio of 3.02 and a beta of 0.80. The business has a 50 day simple moving average of $70.79 and a two-hundred day simple moving average of $54.73. Docusign Inc. has a one year low of $40.16 and a one year high of $85.90.

Docusign (NASDAQ:DOCU) last released its quarterly earnings results on Thursday, September 3rd. The company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.07. The business had revenue of $875.75 million for the quarter, compared to analysts’ expectations of $867.22 million. Docusign had a net margin of 9.82% and a return on equity of 18.29%. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.30 earnings per share. As a group, sell-side analysts expect that Docusign Inc. will post 2.15 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on DOCU shares. Bank of America boosted their target price on Docusign from $58.00 to $64.00 and gave the stock an “underperform” rating in a research report on Friday, September 4th. Morgan Stanley upped their target price on Docusign from $69.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, September 4th. Wells Fargo & Company lifted their target price on shares of Docusign from $55.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Friday, September 4th. UBS Group raised their price objective on Docusign from $54.00 to $70.00 and gave the company a “neutral” rating in a research note on Friday, September 4th. Finally, Piper Sandler raised their price target on Docusign from $52.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, September 4th. Three equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $67.62.

Docusign Company Profile

DocuSign, Inc is a software company that provides digital agreement and electronic signature solutions. Its platform enables individuals and organizations to prepare, send, sign, manage and store agreements electronically, helping customers replace paper-based contracting processes with digital workflows.

The company’s offerings include eSignature, contract lifecycle management, identity verification, notarization and agreement analytics tools. These products are designed to support agreement creation, negotiation, execution and post-signature management across functions such as sales, human resources, procurement, legal and finance.

Founded in 2003, DocuSign serves businesses, government organizations and individual users in markets around the world.