Docusign Inc. $DOCU Stock Position Cut by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al lowered its holdings in shares of Docusign Inc. (NASDAQ:DOCU) by 13.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 63,600 shares of the company’s stock after selling 9,500 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Docusign were worth $4,271,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. John Boyer Inc. bought a new position in Docusign during the 3rd quarter worth $26,000. V Square Quantitative Management LLC bought a new stake in shares of Docusign in the 3rd quarter valued at about $27,000. WealthCollab LLC grew its position in shares of Docusign by 372.4% in the 1st quarter. WealthCollab LLC now owns 855 shares of the company’s stock valued at $41,000 after buying an additional 674 shares during the last quarter. Pinnacle Wealth Planning Services Inc. grew its position in shares of Docusign by 78.5% in the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 607 shares of the company’s stock valued at $41,000 after buying an additional 267 shares during the last quarter. Finally, Virtus Advisers LLC acquired a new stake in shares of Docusign in the second quarter valued at about $47,000. Institutional investors own 77.64% of the company’s stock.

Insider Activity at Docusign

In other Docusign news, CEO Allan C. Thygesen sold 26,250 shares of the business’s stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $69.29, for a total transaction of $1,818,862.50. Following the completion of the sale, the chief executive officer owned 166,801 shares in the company, valued at approximately $11,557,641.29. The trade was a 13.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider James P. Shaughnessy sold 12,000 shares of the firm’s stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $68.80, for a total transaction of $825,600.00. Following the completion of the transaction, the insider directly owned 50,591 shares in the company, valued at approximately $3,480,660.80. The trade was a 19.17% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 165,868 shares of company stock worth $11,121,890. 0.59% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on DOCU. Wall Street Zen downgraded Docusign from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 2nd. Weiss Ratings upgraded Docusign from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. BTIG Research upped their target price on Docusign from $60.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, September 2nd. Robert W. Baird increased their target price on shares of Docusign from $55.00 to $72.00 and gave the company a “neutral” rating in a research report on Friday, September 4th. Finally, Piper Sandler raised their price target on shares of Docusign from $52.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, September 4th. Three investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Docusign presently has an average rating of “Hold” and an average price target of $67.62.

Docusign Stock Performance

Shares of DOCU opened at $82.17 on Monday. The stock has a market capitalization of $15.36 billion, a P/E ratio of 50.10, a price-to-earnings-growth ratio of 3.02 and a beta of 0.80. The firm’s fifty day simple moving average is $70.79 and its two-hundred day simple moving average is $54.73. Docusign Inc. has a 12 month low of $40.16 and a 12 month high of $85.90.

Docusign (NASDAQ:DOCU) last issued its quarterly earnings results on Thursday, September 3rd. The company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.07. Docusign had a return on equity of 18.29% and a net margin of 9.82%. The firm had revenue of $875.75 million during the quarter, compared to the consensus estimate of $867.22 million. During the same period last year, the business posted $0.30 EPS. The business’s revenue was up 9.4% compared to the same quarter last year. As a group, research analysts predict that Docusign Inc. will post 2.15 EPS for the current fiscal year.

About Docusign

DocuSign, Inc is a software company that provides digital agreement and electronic signature solutions. Its platform enables individuals and organizations to prepare, send, sign, manage and store agreements electronically, helping customers replace paper-based contracting processes with digital workflows.

The company’s offerings include eSignature, contract lifecycle management, identity verification, notarization and agreement analytics tools. These products are designed to support agreement creation, negotiation, execution and post-signature management across functions such as sales, human resources, procurement, legal and finance.

Founded in 2003, DocuSign serves businesses, government organizations and individual users in markets around the world.