Docusign Inc. $DOCU Shares Sold by Texas Permanent School Fund Corp

by · The Cerbat Gem

Texas Permanent School Fund Corp decreased its stake in Docusign Inc. (NASDAQ:DOCU – Free Report) by 29.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 44,486 shares of the company’s stock after selling 18,494 shares during the period. Texas Permanent School Fund Corp’s holdings in Docusign were worth $3,465,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Banque Transatlantique SA acquired a new stake in Docusign in the first quarter worth $26,000. Rise Advisors LLC grew its position in shares of Docusign by 864.6% during the first quarter. Rise Advisors LLC now owns 463 shares of the company’s stock worth $38,000 after acquiring an additional 415 shares during the last quarter. WPG Advisers LLC bought a new position in shares of Docusign during the first quarter worth about $39,000. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Docusign in the 2nd quarter worth about $43,000. Finally, First Horizon Advisors Inc. lifted its position in Docusign by 48.6% in the 2nd quarter. First Horizon Advisors Inc. now owns 590 shares of the company’s stock valued at $46,000 after purchasing an additional 193 shares during the last quarter. 77.64% of the stock is currently owned by institutional investors.

Docusign Price Performance

Shares of NASDAQ:DOCU opened at $69.40 on Friday. The stock has a market cap of $13.90 billion, a price-to-earnings ratio of 48.53, a PEG ratio of 3.40 and a beta of 0.98. Docusign Inc. has a 12 month low of $63.41 and a 12 month high of $99.30. The stock’s 50 day moving average price is $68.93 and its 200 day moving average price is $74.18.

Insider Activity at Docusign

In other news, insider James P. Shaughnessy sold 7,500 shares of the business’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $71.19, for a total value of $533,925.00. Following the sale, the insider owned 55,442 shares of the company’s stock, valued at approximately $3,946,915.98. The trade was a 11.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Allan C. Thygesen sold 40,000 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $69.69, for a total value of $2,787,600.00. Following the transaction, the chief executive officer directly owned 136,246 shares of the company’s stock, valued at $9,494,983.74. This represents a 22.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 87,542 shares of company stock worth $6,097,905 in the last quarter. Company insiders own 1.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Citigroup upped their target price on shares of Docusign from $110.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, September 4th. JMP Securities reiterated a “market outperform” rating and set a $124.00 price objective on shares of Docusign in a research report on Friday, October 3rd. BTIG Research initiated coverage on Docusign in a report on Tuesday. They issued a “buy” rating and a $88.00 price objective for the company. Argus reaffirmed a “hold” rating on shares of Docusign in a research note on Monday, September 8th. Finally, Morgan Stanley boosted their price target on Docusign from $86.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Monday, September 8th. Six investment analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the stock. Based on data from MarketBeat.com, Docusign currently has an average rating of “Hold” and a consensus target price of $86.80.

View Our Latest Research Report on Docusign

Docusign Profile

(Free Report)

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.

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