State of Tennessee Department of Treasury Purchases Shares of 83,369 DocuSign, Inc. (NASDAQ:DOCU)

State of Tennessee Department of Treasury acquired a new position in shares of DocuSign, Inc. (NASDAQ:DOCU) in the 4th quarter, Holdings Channel reports. The fund acquired 83,369 shares of the company’s stock, valued at approximately $7,498,000.

Other institutional investors also recently modified their holdings of the company. Kestra Investment Management LLC bought a new stake in DocuSign during the fourth quarter worth about $30,000. Modus Advisors LLC purchased a new position in shares of DocuSign during the 4th quarter valued at about $36,000. First Horizon Advisors Inc. lifted its position in DocuSign by 102.6% in the 4th quarter. First Horizon Advisors Inc. now owns 397 shares of the company’s stock worth $36,000 after buying an additional 201 shares during the last quarter. Bessemer Group Inc. boosted its stake in DocuSign by 490.0% in the fourth quarter. Bessemer Group Inc. now owns 472 shares of the company’s stock worth $42,000 after buying an additional 392 shares in the last quarter. Finally, Avion Wealth grew its position in DocuSign by 309.2% during the fourth quarter. Avion Wealth now owns 487 shares of the company’s stock valued at $43,000 after acquiring an additional 368 shares during the last quarter. 77.64% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Jefferies Financial Group lowered their price objective on shares of DocuSign from $115.00 to $105.00 and set a “buy” rating for the company in a report on Monday, March 31st. Morgan Stanley cut their price target on shares of DocuSign from $97.00 to $92.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 16th. JMP Securities reiterated a “market outperform” rating and issued a $124.00 price objective on shares of DocuSign in a report on Thursday, April 17th. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a report on Thursday, April 17th. Finally, Robert W. Baird set a $93.00 price target on DocuSign in a research note on Friday, March 14th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $92.46.

Insider Activity

In other DocuSign news, insider James P. Shaughnessy sold 7,500 shares of DocuSign stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $81.31, for a total transaction of $609,825.00. Following the completion of the transaction, the insider now owns 45,875 shares in the company, valued at approximately $3,730,096.25. The trade was a 14.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Blake Jeffrey Grayson sold 8,000 shares of the business’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $86.90, for a total value of $695,200.00. Following the completion of the sale, the chief financial officer now directly owns 77,851 shares in the company, valued at $6,765,251.90. This trade represents a 9.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 55,851 shares of company stock worth $4,607,439. Corporate insiders own 1.66% of the company’s stock.

DocuSign Price Performance

Shares of NASDAQ DOCU opened at $81.67 on Friday. DocuSign, Inc. has a 1 year low of $48.70 and a 1 year high of $107.86. The stock has a market capitalization of $16.54 billion, a P/E ratio of 16.84, a P/E/G ratio of 6.94 and a beta of 1.20. The company’s 50-day moving average is $80.43 and its 200 day moving average is $83.47.

DocuSign (NASDAQ:DOCU) last announced its earnings results on Thursday, March 13th. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.02. The firm had revenue of $776.25 million during the quarter, compared to analyst estimates of $760.94 million. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The business’s revenue was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.76 EPS. Research analysts anticipate that DocuSign, Inc. will post 1.17 earnings per share for the current year.

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.