New Mexico Educational Retirement Board Makes New Investment in DocuSign, Inc. (NASDAQ:DOCU)

New Mexico Educational Retirement Board bought a new position in shares of DocuSign, Inc. (NASDAQ:DOCU) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 41,800 shares of the company’s stock, valued at approximately $3,759,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Itau Unibanco Holding S.A. acquired a new stake in shares of DocuSign in the third quarter valued at $28,000. Brooklyn Investment Group acquired a new stake in shares of DocuSign in the third quarter valued at $33,000. Modus Advisors LLC acquired a new stake in shares of DocuSign in the fourth quarter valued at $36,000. Avion Wealth grew its stake in shares of DocuSign by 309.2% in the fourth quarter. Avion Wealth now owns 487 shares of the company’s stock valued at $43,000 after buying an additional 368 shares in the last quarter. Finally, Reston Wealth Management LLC acquired a new stake in shares of DocuSign in the third quarter valued at $47,000. Institutional investors and hedge funds own 77.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company lifted their price objective on DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a research note on Friday, December 6th. HSBC reiterated a “reduce” rating on shares of DocuSign in a report on Friday, December 6th. Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a report on Tuesday, February 4th. JPMorgan Chase & Co. lifted their target price on DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a report on Tuesday, December 3rd. Finally, Morgan Stanley lifted their target price on DocuSign from $62.00 to $97.00 and gave the company an “equal weight” rating in a report on Friday, December 6th. Three investment 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. According to MarketBeat.com, DocuSign currently has a consensus rating of “Hold” and an average price target of $92.45.

Insider Transactions at DocuSign

In other news, CEO Allan C. Thygesen sold 40,000 shares of DocuSign stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $90.04, for a total transaction of $3,601,600.00. Following the sale, the chief executive officer now owns 156,050 shares in the company, valued at approximately $14,050,742. The trade was a 20.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Peter Solvik sold 10,000 shares of DocuSign stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $91.26, for a total value of $912,600.00. Following the sale, the director now owns 150,253 shares in the company, valued at $13,712,088.78. This trade represents a 6.24 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 685,773 shares of company stock worth $66,032,726. Corporate insiders own 1.66% of the company’s stock.

DocuSign Price Performance

Shares of NASDAQ DOCU opened at $87.34 on Friday. The business has a 50-day moving average of $92.73 and a two-hundred day moving average of $75.49. DocuSign, Inc. has a 1 year low of $48.70 and a 1 year high of $107.86. The company has a market capitalization of $17.64 billion, a price-to-earnings ratio of 18.01, a price-to-earnings-growth ratio of 7.56 and a beta of 0.89.

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.