Arizona State Retirement System Increases Stock Position in DocuSign, Inc. (NASDAQ:DOCU)

Posted by on Jul 19th, 2023

Arizona State Retirement System raised its position in DocuSign, Inc. (NASDAQ:DOCU – Free Report) by 3.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 58,372 shares of the company’s stock after acquiring an additional 1,777 shares during the quarter. Arizona State Retirement System’s holdings in DocuSign were worth $3,403,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in DocuSign by 20.3% in the first quarter. Vanguard Group Inc. now owns 17,308,877 shares of the company’s stock worth $1,854,127,000 after acquiring an additional 2,917,683 shares during the period. Capital World Investors raised its holdings in DocuSign by 128.3% in the 1st quarter. Capital World Investors now owns 5,683,838 shares of the company’s stock worth $608,853,000 after purchasing an additional 3,193,727 shares in the last quarter. Fisher Asset Management LLC lifted its position in shares of DocuSign by 2.2% in the 4th quarter. Fisher Asset Management LLC now owns 5,630,578 shares of the company’s stock worth $312,047,000 after purchasing an additional 120,648 shares during the period. Two Sigma Investments LP lifted its position in shares of DocuSign by 10.2% in the 4th quarter. Two Sigma Investments LP now owns 3,611,117 shares of the company’s stock worth $200,128,000 after purchasing an additional 334,069 shares during the period. Finally, Two Sigma Advisers LP boosted its stake in shares of DocuSign by 18.7% during the 4th quarter. Two Sigma Advisers LP now owns 3,424,200 shares of the company’s stock valued at $189,769,000 after purchasing an additional 538,500 shares in the last quarter. 76.03% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Stephen Shute sold 100,315 shares of the firm’s stock in a transaction on Thursday, July 6th. The stock was sold at an average price of $49.20, for a total transaction of $4,935,498.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Stephen Shute sold 100,315 shares of DocuSign stock in a transaction dated Thursday, July 6th. The stock was sold at an average price of $49.20, for a total value of $4,935,498.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Enrique T. Salem sold 2,500 shares of DocuSign stock in a transaction dated Friday, July 7th. The stock was sold at an average price of $50.02, for a total value of $125,050.00. Following the completion of the sale, the director now owns 156,140 shares of the company’s stock, valued at $7,810,122.80. The disclosure for this sale can be found here. Corporate insiders own 17.80% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Citigroup reduced their price target on shares of DocuSign from $80.00 to $73.00 in a research report on Wednesday, June 7th. Morgan Stanley dropped their price target on DocuSign from $54.00 to $49.00 in a research report on Tuesday, June 27th. JPMorgan Chase & Co. increased their price objective on DocuSign from $48.00 to $50.00 in a report on Friday, June 9th. 22nd Century Group reissued a “maintains” rating on shares of DocuSign in a research report on Friday, June 9th. Finally, Piper Sandler raised their price objective on DocuSign from $60.00 to $61.00 in a research report on Friday, June 9th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, DocuSign has an average rating of “Hold” and a consensus target price of $62.93.

DocuSign Price Performance

Shares of NASDAQ:DOCU opened at $53.84 on Wednesday. DocuSign, Inc. has a 1-year low of $39.57 and a 1-year high of $77.24. The business has a fifty day moving average price of $53.16 and a 200-day moving average price of $55.96. The company has a market capitalization of $10.90 billion, a PE ratio of -153.82, a PEG ratio of 11.93 and a beta of 0.91.

DocuSign (NASDAQ:DOCU – Get Free Report) last issued its quarterly earnings results on Thursday, June 8th. The company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.16. DocuSign had a positive return on equity of 3.70% and a negative net margin of 2.69%. The firm had revenue of $661.39 million during the quarter, compared to the consensus estimate of $641.69 million. During the same period last year, the company earned ($0.12) earnings per share. The company’s revenue was up 12.3% on a year-over-year basis. On average, sell-side analysts anticipate that DocuSign, Inc. will post 0.33 earnings per share for the current fiscal year.

DocuSign Profile

(Free Report)

DocuSign, Inc provides electronic signature solution in the United States and internationally. The company provides DocuSign 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; and Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce.

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Institutional Ownership by Quarter for DocuSign (NASDAQ:DOCU)

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