Utah Retirement Systems Has $326,000 Holdings in Docusign Inc (DOCU)
Utah Retirement Systems raised its position in shares of Docusign Inc (NASDAQ:DOCU) by 34.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,200 shares of the company’s stock after buying an additional 1,600 shares during the quarter. Utah Retirement Systems’ holdings in Docusign were worth $326,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in DOCU. Bain Capital Public Equity Management LLC acquired a new position in shares of Docusign during the second quarter valued at about $343,705,000. FMR LLC increased its holdings in shares of Docusign by 17.3% during the third quarter. FMR LLC now owns 3,799,380 shares of the company’s stock valued at $193,053,000 after acquiring an additional 559,971 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Docusign by 24.3% during the third quarter. BlackRock Inc. now owns 2,108,400 shares of the company’s stock valued at $110,838,000 after acquiring an additional 412,766 shares in the last quarter. American Century Companies Inc. acquired a new position in shares of Docusign during the third quarter valued at about $103,254,000. Finally, Insight Holdings Group LLC acquired a new position in shares of Docusign during the second quarter valued at about $84,918,000. 39.06% of the stock is owned by institutional investors and hedge funds.
In related news, Director Peter Solvik sold 1,304,348 shares of the stock in a transaction that occurred on Tuesday, September 18th. The shares were sold at an average price of $55.00, for a total value of $71,739,140.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
Docusign (NASDAQ:DOCU) last issued its quarterly earnings results on Thursday, December 6th. The company reported ($0.30) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by ($0.07). The company had revenue of $178.39 million for the quarter, compared to the consensus estimate of $173.55 million. The business’s quarterly revenue was up 36.6% on a year-over-year basis. On average, research analysts expect that Docusign Inc will post -2.46 EPS for the current year.
DOCU has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of Docusign from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a report on Monday, September 10th. Bank of America upped their price objective on shares of Docusign from $63.00 to $64.00 and gave the company a “neutral” rating in a report on Thursday, September 6th. JMP Securities upped their price objective on shares of Docusign from $63.00 to $68.00 and gave the company a “market outperform” rating in a report on Thursday, September 6th. Morgan Stanley upped their price objective on shares of Docusign from $46.00 to $50.00 and gave the company an “equal weight” rating in a report on Thursday, September 6th. Finally, Wedbush initiated coverage on shares of Docusign in a report on Thursday, October 18th. They set a “neutral” rating and a $45.00 price objective on the stock. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $59.60.
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DocuSign, Inc provides cloud based transaction products and services in the United States. The company offers e-signature solution that enables businesses to digitally prepare, execute, and act on agreements. It serves large enterprises, sole proprietorships, small- to medium-sized businesses, professionals, and individuals.
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