Maryland State Retirement & Pension System Cuts Stock Position in DocuSign, Inc. (NASDAQ:DOCU)

Maryland State Retirement & Pension System decreased its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU) by 6.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 10,846 shares of the company’s stock after selling 782 shares during the period. Maryland State Retirement & Pension System’s holdings in DocuSign were worth $975,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the business. Kestra Investment Management LLC bought a new stake in shares of DocuSign in the 4th quarter worth about $30,000. First Horizon Advisors Inc. increased its stake in DocuSign by 102.6% during the fourth quarter. First Horizon Advisors Inc. now owns 397 shares of the company’s stock worth $36,000 after acquiring an additional 201 shares during the last quarter. Modus Advisors LLC purchased a new stake in DocuSign during the fourth quarter valued at approximately $36,000. Itau Unibanco Holding S.A. bought a new stake in shares of DocuSign in the 3rd quarter valued at approximately $28,000. Finally, Avion Wealth boosted its holdings in shares of DocuSign by 309.2% in the 4th quarter. Avion Wealth now owns 487 shares of the company’s stock worth $43,000 after purchasing an additional 368 shares during the period. Institutional investors own 77.64% of the company’s stock.

Wall Street Analyst Weigh In

DOCU has been the topic of several recent research reports. Morgan Stanley increased their price target on DocuSign from $62.00 to $97.00 and gave the company an “equal weight” rating in a report on Friday, December 6th. Wells Fargo & Company increased their target price on shares of DocuSign from $70.00 to $73.00 and gave the company an “underweight” rating in a research note on Friday, March 14th. William Blair raised shares of DocuSign from a “market perform” rating to an “outperform” rating in a research note on Monday, March 17th. HSBC reiterated a “reduce” rating on shares of DocuSign in a report on Friday, December 6th. Finally, Wedbush reissued a “neutral” rating and issued a $100.00 price objective on shares of DocuSign in a research note on Friday, March 14th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $95.00.

Insider Transactions at DocuSign

In other news, Director Teresa Briggs sold 534 shares of DocuSign stock in a transaction on Monday, March 17th. The stock was sold at an average price of $87.41, for a total value of $46,676.94. Following the transaction, the director now directly owns 8,270 shares in the company, valued at approximately $722,880.70. This trade represents a 6.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Allan C. Thygesen sold 40,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $90.04, for a total value of $3,601,600.00. Following the sale, the chief executive officer now owns 156,050 shares of the company’s stock, valued at $14,050,742. This trade represents a 20.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 97,851 shares of company stock valued at $8,579,369. Company insiders own 1.66% of the company’s stock.

DocuSign Stock Up 3.5 %

Shares of NASDAQ DOCU opened at $88.06 on Monday. DocuSign, Inc. has a twelve month low of $48.70 and a twelve month high of $107.86. The firm has a market cap of $17.79 billion, a PE ratio of 18.16, a price-to-earnings-growth ratio of 6.94 and a beta of 1.02. The business has a fifty day simple moving average of $87.54 and a two-hundred day simple moving average of $80.47.

DocuSign (NASDAQ:DOCU) last released its quarterly earnings data on Thursday, March 13th. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.02. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The firm had revenue of $776.25 million during the quarter, compared to the consensus estimate of $760.94 million. During the same period in the previous year, the company posted $0.76 earnings per share. The firm’s quarterly revenue was up 9.0% on a year-over-year basis. On average, research analysts expect that DocuSign, Inc. will post 1.17 earnings per share for the current year.

DocuSign Company 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.