New York State Common Retirement Fund Acquires 139,340 Shares of DocuSign, Inc. (NASDAQ:DOCU)

New York State Common Retirement Fund boosted its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU) by 127.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 248,577 shares of the company’s stock after purchasing an additional 139,340 shares during the quarter. New York State Common Retirement Fund owned about 0.12% of DocuSign worth $22,357,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Kestra Investment Management LLC bought a new stake in shares of DocuSign in the fourth quarter valued at approximately $30,000. Modus Advisors LLC bought a new stake in DocuSign in the 4th quarter valued at $36,000. Itau Unibanco Holding S.A. acquired a new stake in DocuSign in the 3rd quarter worth $28,000. Avion Wealth grew its position in 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 last quarter. Finally, Brooklyn Investment Group bought a new position in shares of DocuSign during the 3rd quarter worth about $33,000. Institutional investors and hedge funds own 77.64% of the company’s stock.

DocuSign Trading Down 2.6 %

Shares of DOCU stock opened at $83.96 on Friday. The firm has a market capitalization of $16.96 billion, a price-to-earnings ratio of 17.31, a PEG ratio of 6.98 and a beta of 0.89. The firm’s 50 day moving average is $91.94 and its 200-day moving average is $76.27. DocuSign, Inc. has a 1 year low of $48.70 and a 1 year high of $107.86.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on DOCU. Morgan Stanley lifted their target price on DocuSign from $62.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Friday, December 6th. Jefferies Financial Group raised their price objective on DocuSign from $80.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. JMP Securities restated a “market outperform” rating and set a $124.00 price objective on shares of DocuSign in a research report on Tuesday, January 7th. Citigroup raised their target price on DocuSign from $87.00 to $113.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Finally, Hsbc Global Res raised shares of DocuSign to a “moderate sell” rating in a report on Friday, December 6th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $92.45.

Insider Buying and Selling at DocuSign

In other news, CFO Blake Jeffrey Grayson sold 15,588 shares of DocuSign stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $97.78, for a total transaction of $1,524,194.64. Following the completion of the sale, the chief financial officer now owns 85,851 shares in the company, valued at $8,394,510.78. The trade was a 15.37 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Allan C. Thygesen sold 7,763 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $80.54, for a total transaction of $625,232.02. Following the sale, the chief executive officer now directly owns 100,062 shares of the company’s stock, valued at approximately $8,058,993.48. This trade represents a 7.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 693,773 shares of company stock worth $66,727,926. Insiders own 1.66% of the company’s stock.

About DocuSign

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.