Teacher Retirement System of Texas Has $9.22 Million Stock Position in Docusign Inc. $DOCU

Teacher Retirement System of Texas reduced its holdings in Docusign Inc. (NASDAQ:DOCU) by 42.5% in the third quarter, HoldingsChannel reports. The firm owned 127,829 shares of the company’s stock after selling 94,380 shares during the period. Teacher Retirement System of Texas’ holdings in Docusign were worth $9,215,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. State Street Corp grew its position in shares of Docusign by 3.0% during the 2nd quarter. State Street Corp now owns 8,074,976 shares of the company’s stock worth $628,960,000 after buying an additional 236,494 shares during the period. American Century Companies Inc. boosted its stake in Docusign by 1.6% during the second quarter. American Century Companies Inc. now owns 5,564,318 shares of the company’s stock worth $433,405,000 after acquiring an additional 86,560 shares in the last quarter. Geode Capital Management LLC grew its holdings in Docusign by 1.5% in the second quarter. Geode Capital Management LLC now owns 3,985,808 shares of the company’s stock worth $309,910,000 after purchasing an additional 59,941 shares during the period. Norges Bank bought a new stake in Docusign in the second quarter valued at $140,987,000. Finally, Legal & General Group Plc increased its stake in Docusign by 16.5% in the second quarter. Legal & General Group Plc now owns 1,525,729 shares of the company’s stock valued at $118,839,000 after purchasing an additional 215,580 shares in the last quarter. 77.64% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Docusign

In other news, insider Robert Chatwani sold 13,818 shares of the stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $68.33, for a total value of $944,183.94. Following the completion of the sale, the insider owned 70,197 shares in the company, valued at $4,796,561.01. This represents a 16.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CRO Paula Hansen sold 6,000 shares of the firm’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $67.05, for a total transaction of $402,300.00. Following the transaction, the executive directly owned 68,970 shares in the company, valued at $4,624,438.50. The trade was a 8.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 78,292 shares of company stock worth $5,374,260. 1.66% of the stock is currently owned by insiders.

Docusign Stock Down 0.1%

DOCU stock opened at $57.44 on Monday. The firm has a market capitalization of $11.50 billion, a PE ratio of 40.17, a P/E/G ratio of 2.83 and a beta of 0.99. Docusign Inc. has a twelve month low of $55.46 and a twelve month high of $99.30. The stock’s 50 day moving average is $66.39 and its 200-day moving average is $71.62.

Analyst Upgrades and Downgrades

DOCU has been the topic of a number of research analyst reports. Wells Fargo & Company cut their price objective on shares of Docusign from $85.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Friday, December 5th. Wedbush cut their price target on Docusign from $85.00 to $75.00 and set a “neutral” rating on the stock in a report on Friday, December 5th. UBS Group reduced their price objective on Docusign from $85.00 to $75.00 and set a “neutral” rating for the company in a research note on Friday, December 5th. Needham & Company LLC reaffirmed a “hold” rating on shares of Docusign in a research report on Wednesday, December 17th. Finally, BTIG Research assumed coverage on shares of Docusign in a research report on Tuesday, December 16th. They issued a “buy” rating and a $88.00 price target for the company. Six investment analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $85.13.

Docusign Company Profile

DocuSign, Inc (NASDAQ: DOCU) is a leading provider of electronic signature and digital transaction management solutions. The company’s flagship offering, DocuSign eSignature, enables organizations to send, sign and manage legally binding electronic agreements securely in the cloud. Beyond eSignature, DocuSign’s Agreement Cloud combines contract lifecycle management, document generation, and workflow automation to streamline agreement processes from initiation through execution and storage.

DocuSign’s platform serves a diverse customer base spanning industries such as finance, real estate, healthcare, technology, and government.