DocuSign, Inc. (NASDAQ:DOCU) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System cut its position in DocuSign, Inc. (NASDAQ:DOCU) by 8.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 387,247 shares of the company’s stock after selling 33,613 shares during the period. California Public Employees Retirement System owned approximately 0.20% of DocuSign worth $108,263,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. HHM Wealth Advisors LLC increased its holdings in shares of DocuSign by 8.6% in the second quarter. HHM Wealth Advisors LLC now owns 494 shares of the company’s stock valued at $138,000 after purchasing an additional 39 shares during the period. Holderness Investments Co. increased its holdings in shares of DocuSign by 3.6% in the second quarter. Holderness Investments Co. now owns 1,254 shares of the company’s stock valued at $351,000 after purchasing an additional 43 shares during the period. Cloverfields Capital Group LP increased its holdings in shares of DocuSign by 0.6% in the second quarter. Cloverfields Capital Group LP now owns 7,905 shares of the company’s stock valued at $2,210,000 after purchasing an additional 44 shares during the period. Cigna Investments Inc. New increased its holdings in shares of DocuSign by 3.4% in the second quarter. Cigna Investments Inc. New now owns 1,423 shares of the company’s stock valued at $398,000 after purchasing an additional 47 shares during the period. Finally, Nwam LLC increased its holdings in shares of DocuSign by 1.9% in the second quarter. Nwam LLC now owns 2,626 shares of the company’s stock valued at $734,000 after purchasing an additional 50 shares during the period. 75.67% of the stock is currently owned by institutional investors and hedge funds.

In other DocuSign news, COO Scott V. Olrich sold 12,500 shares of the firm’s stock in a transaction on Tuesday, August 10th. The stock was sold at an average price of $306.55, for a total transaction of $3,831,875.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Loren Alhadeff sold 51,544 shares of the firm’s stock in a transaction on Monday, July 26th. The stock was sold at an average price of $306.22, for a total value of $15,783,803.68. Following the sale, the executive now directly owns 193,131 shares of the company’s stock, valued at approximately $59,140,574.82. The disclosure for this sale can be found here. In the last ninety days, insiders sold 91,681 shares of company stock valued at $26,898,263. Insiders own 3.87% of the company’s stock.

A number of brokerages have recently weighed in on DOCU. Needham & Company LLC increased their price objective on DocuSign from $275.00 to $340.00 and gave the company a “buy” rating in a report on Friday, September 3rd. Wolfe Research restated a “buy” rating and issued a $340.00 target price on shares of DocuSign in a research note on Friday, September 3rd. UBS Group upped their target price on DocuSign from $340.00 to $350.00 and gave the stock a “buy” rating in a research note on Friday, September 3rd. Royal Bank of Canada upped their target price on DocuSign from $280.00 to $345.00 and gave the stock an “outperform” rating in a research note on Friday, September 3rd. Finally, Oppenheimer upped their target price on DocuSign from $260.00 to $310.00 and gave the stock an “outperform” rating in a research note on Friday, September 3rd. Four research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, DocuSign presently has an average rating of “Buy” and an average price target of $309.20.

NASDAQ:DOCU opened at $259.31 on Thursday. DocuSign, Inc. has a one year low of $179.49 and a one year high of $314.76. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 3.45. The stock has a 50 day moving average price of $281.92 and a 200 day moving average price of $254.88.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings results on Wednesday, September 1st. The company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.40 by $0.07. DocuSign had a negative return on equity of 23.08% and a negative net margin of 9.18%. The firm had revenue of $511.84 million during the quarter, compared to analysts’ expectations of $487.99 million. During the same quarter last year, the firm earned $0.17 earnings per share. The business’s revenue for the quarter was up 49.6% on a year-over-year basis. As a group, equities analysts forecast that DocuSign, Inc. will post -0.01 earnings per share for the current fiscal year.

About DocuSign

DocuSign, Inc provides cloud-based electronic signature solutions. Its cloud based electronic signature platform helps companies and individuals securely collect information, automate data workflows and sign anything. The firm automates manual, paper-based processes allowing users to manage all aspects of documented business transactions include identity management, authentication, digital signature, forms and data collection, collaboration, workflow automation and storage.

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Institutional Ownership by Quarter for DocuSign (NASDAQ:DOCU)

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