Teachers Retirement System of The State of Kentucky Invests $5.85 Million in DocuSign, Inc. (NASDAQ:DOCU)

Teachers Retirement System of The State of Kentucky bought a new stake in shares of DocuSign, Inc. (NASDAQ:DOCU) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 64,990 shares of the company’s stock, valued at approximately $5,846,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Citizens Financial Group Inc. RI lifted its stake in DocuSign by 2.3% during the fourth quarter. Citizens Financial Group Inc. RI now owns 5,990 shares of the company’s stock valued at $539,000 after buying an additional 133 shares in the last quarter. Rakuten Securities Inc. raised its holdings in shares of DocuSign by 20.9% during the fourth quarter. Rakuten Securities Inc. now owns 797 shares of the company’s stock valued at $72,000 after acquiring an additional 138 shares during the period. Synergy Financial Group LTD lifted its position in shares of DocuSign by 3.4% in the 4th quarter. Synergy Financial Group LTD now owns 4,241 shares of the company’s stock valued at $381,000 after acquiring an additional 140 shares in the last quarter. M&T Bank Corp boosted its stake in DocuSign by 1.3% in the 4th quarter. M&T Bank Corp now owns 10,840 shares of the company’s stock worth $975,000 after purchasing an additional 143 shares during the period. Finally, Avior Wealth Management LLC boosted its stake in DocuSign by 36.5% in the 4th quarter. Avior Wealth Management LLC now owns 542 shares of the company’s stock worth $49,000 after purchasing an additional 145 shares during the period. 77.64% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

DOCU has been the topic of a number of research reports. UBS Group dropped their target price on DocuSign from $90.00 to $85.00 and set a “neutral” rating on the stock in a report on Thursday, April 17th. Robert W. Baird set a $93.00 price objective on shares of DocuSign in a research note on Friday, March 14th. JMP Securities reissued a “market outperform” rating and set a $124.00 target price on shares of DocuSign in a research note on Thursday, April 17th. Wedbush restated a “neutral” rating and set a $100.00 price target on shares of DocuSign in a report on Friday, March 14th. Finally, JPMorgan Chase & Co. upgraded DocuSign from an “underweight” rating to a “neutral” rating and increased their price objective for the stock from $70.00 to $75.00 in a report on Monday, March 10th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, DocuSign currently has an average rating of “Hold” and an average target price of $92.46.

Insider Activity at DocuSign

In other DocuSign news, insider James P. Shaughnessy sold 7,500 shares of DocuSign stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $81.31, for a total value of $609,825.00. Following the completion of the transaction, the insider now owns 45,875 shares in the company, valued at approximately $3,730,096.25. The trade was a 14.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Blake Jeffrey Grayson sold 8,000 shares of DocuSign stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $86.90, for a total value of $695,200.00. Following the completion of the transaction, the chief financial officer now directly owns 77,851 shares of the company’s stock, valued at $6,765,251.90. This represents a 9.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 55,851 shares of company stock valued at $4,607,439 in the last 90 days. 1.66% of the stock is owned by corporate insiders.

DocuSign Trading Up 3.2 %

Shares of DOCU stock opened at $74.20 on Wednesday. The firm has a market capitalization of $15.02 billion, a P/E ratio of 15.30, a price-to-earnings-growth ratio of 6.94 and a beta of 1.20. DocuSign, Inc. has a 1 year low of $48.70 and a 1 year high of $107.86. The firm’s fifty day simple moving average is $80.73 and its 200 day simple moving average is $83.38.

DocuSign (NASDAQ:DOCU) last issued its quarterly earnings results on Thursday, March 13th. The company reported $0.86 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $760.94 million. During the same period in the previous year, the company posted $0.76 earnings per share. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. Equities research analysts anticipate that DocuSign, Inc. will post 1.17 EPS for the current fiscal 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.