Arizona State Retirement System Has $5.30 Million Stock Position in DocuSign, Inc. (NASDAQ:DOCU)

Arizona State Retirement System grew its stake in DocuSign, Inc. (NASDAQ:DOCU) by 0.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 58,954 shares of the company’s stock after purchasing an additional 302 shares during the quarter. Arizona State Retirement System’s holdings in DocuSign were worth $5,302,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in DOCU. Kestra Investment Management LLC bought a new position in shares of DocuSign during the fourth quarter worth $30,000. First Horizon Advisors Inc. grew its position in DocuSign by 102.6% in the fourth quarter. First Horizon Advisors Inc. now owns 397 shares of the company’s stock valued at $36,000 after purchasing an additional 201 shares in the last quarter. Modus Advisors LLC acquired a new stake in shares of DocuSign in the fourth quarter valued at about $36,000. Itau Unibanco Holding S.A. acquired a new position in shares of DocuSign during the 3rd quarter worth approximately $28,000. Finally, Avion Wealth raised its position in DocuSign by 309.2% during the fourth quarter. Avion Wealth now owns 487 shares of the company’s stock worth $43,000 after acquiring an additional 368 shares in the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.

DocuSign Price Performance

DocuSign stock opened at $79.83 on Friday. The stock’s 50 day moving average is $89.05 and its 200 day moving average is $78.60. DocuSign, Inc. has a one year low of $48.70 and a one year high of $107.86. The firm has a market cap of $16.13 billion, a P/E ratio of 16.46, a P/E/G ratio of 6.94 and a beta of 1.02.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on DOCU shares. Piper Sandler boosted their target price on DocuSign from $60.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Morgan Stanley boosted their price target on DocuSign from $62.00 to $97.00 and gave the company an “equal weight” rating in a research note on Friday, December 6th. Wells Fargo & Company increased their price objective on shares of DocuSign from $50.00 to $70.00 and gave the stock an “underweight” rating in a research note on Friday, December 6th. Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a research note on Tuesday, February 4th. Finally, Jefferies Financial Group upped their price objective on shares of DocuSign from $80.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $92.45.

Insider Buying and Selling

In related news, CFO Blake Jeffrey Grayson sold 8,000 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $86.90, for a total transaction of $695,200.00. Following the transaction, the chief financial officer now directly owns 77,851 shares of the company’s stock, valued at $6,765,251.90. This represents a 9.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert Chatwani sold 14,800 shares of the business’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $97.76, for a total value of $1,446,848.00. Following the completion of the sale, the insider now directly owns 73,414 shares of the company’s stock, valued at $7,176,952.64. The trade was a 16.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 686,010 shares of company stock valued at $66,102,694 over the last quarter. Insiders own 1.66% of the company’s stock.

DocuSign 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.