Teacher Retirement System of Texas Purchases 411,320 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Teacher Retirement System of Texas boosted its position in shares of DocuSign, Inc. (NASDAQ:DOCU) by 173.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 648,209 shares of the company’s stock after acquiring an additional 411,320 shares during the period. Teacher Retirement System of Texas’ holdings in DocuSign were worth $58,300,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp grew its holdings in DocuSign by 2.3% during the 3rd quarter. State Street Corp now owns 5,372,939 shares of the company’s stock valued at $333,604,000 after buying an additional 120,743 shares in the last quarter. Geode Capital Management LLC grew its holdings in DocuSign by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 3,483,184 shares of the company’s stock valued at $215,789,000 after buying an additional 53,554 shares in the last quarter. Thrivent Financial for Lutherans grew its holdings in DocuSign by 1.8% during the 4th quarter. Thrivent Financial for Lutherans now owns 2,318,137 shares of the company’s stock valued at $208,494,000 after buying an additional 40,825 shares in the last quarter. FMR LLC grew its holdings in DocuSign by 16.8% during the 3rd quarter. FMR LLC now owns 2,192,885 shares of the company’s stock valued at $136,156,000 after buying an additional 315,073 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in DocuSign by 61.5% during the 4th quarter. Bank of New York Mellon Corp now owns 1,673,612 shares of the company’s stock valued at $150,525,000 after buying an additional 637,505 shares in the last quarter. Institutional investors own 77.64% of the company’s stock.

DocuSign Stock Down 0.6 %

Shares of DOCU opened at $85.11 on Friday. The company has a market cap of $17.19 billion, a PE ratio of 17.55, a P/E/G ratio of 6.94 and a beta of 1.02. The business has a fifty day moving average of $87.58 and a 200 day moving average of $79.95. DocuSign, Inc. has a 52-week low of $48.70 and a 52-week high of $107.86.

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, topping analysts’ consensus estimates of $0.84 by $0.02. The company had revenue of $776.25 million during the quarter, compared to the consensus estimate of $760.94 million. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. DocuSign’s revenue was up 9.0% on a year-over-year basis. During the same period last year, the company earned $0.76 earnings per share. As a group, research analysts anticipate that DocuSign, Inc. will post 1.17 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

DOCU has been the subject of a number of research analyst reports. William Blair raised shares of DocuSign from a “market perform” rating to an “outperform” rating in a report on Monday. Hsbc Global Res raised shares of DocuSign to a “moderate sell” rating in a report on Friday, December 6th. UBS Group cut their price objective on shares of DocuSign from $100.00 to $90.00 and set a “neutral” rating for the company in a report on Friday, March 14th. Robert W. Baird set a $93.00 target price on shares of DocuSign in a report on Friday, March 14th. Finally, Bank of America cut their target price on shares of DocuSign from $112.00 to $98.00 and set a “neutral” rating for the company in a report on Friday, March 14th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, DocuSign currently has a consensus rating of “Hold” and an average target price of $95.00.

Insider Transactions at DocuSign

In other news, CFO Blake Jeffrey Grayson sold 16,111 shares of DocuSign stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $83.20, for a total transaction of $1,340,435.20. Following the completion of the sale, the chief financial officer now directly owns 93,960 shares in the company, valued at approximately $7,817,472. This trade represents a 14.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Teresa Briggs sold 534 shares of DocuSign stock in a transaction on Monday, March 17th. The stock was sold at an average price of $87.41, for a total value of $46,676.94. Following the sale, the director now owns 8,270 shares of the company’s stock, valued at approximately $722,880.70. This trade represents a 6.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 97,851 shares of company stock worth $8,579,369. 1.66% of the stock is currently owned by insiders.

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.