State of New Jersey Common Pension Fund D Has $6.75 Million Holdings in DocuSign, Inc. (NASDAQ:DOCU)

State of New Jersey Common Pension Fund D trimmed its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU) by 0.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 75,034 shares of the company’s stock after selling 605 shares during the period. State of New Jersey Common Pension Fund D’s holdings in DocuSign were worth $6,749,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of DOCU. Itau Unibanco Holding S.A. bought a new position in shares of DocuSign during the 3rd quarter worth approximately $28,000. Brooklyn Investment Group bought a new position in shares of DocuSign during the 3rd quarter worth approximately $33,000. Modus Advisors LLC bought a new position in shares of DocuSign during the 4th quarter worth approximately $36,000. Avion Wealth boosted its holdings in shares of DocuSign by 309.2% during the 4th quarter. Avion Wealth now owns 487 shares of the company’s stock worth $43,000 after buying an additional 368 shares in the last quarter. Finally, Reston Wealth Management LLC bought a new position in shares of DocuSign during the 3rd quarter worth approximately $47,000. 77.64% of the stock is currently owned by institutional investors.

Insider Buying and Selling at DocuSign

In other news, CEO Allan C. Thygesen sold 7,763 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $80.54, for a total transaction of $625,232.02. Following the completion of the sale, the chief executive officer now directly owns 100,062 shares of the company’s stock, valued at $8,058,993.48. This trade represents a 7.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Blake Jeffrey Grayson sold 8,000 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $94.77, for a total value of $758,160.00. Following the sale, the chief financial officer now directly owns 101,439 shares of the company’s stock, valued at approximately $9,613,374.03. This represents a 7.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 693,773 shares of company stock worth $66,727,926. Corporate insiders own 1.66% of the company’s stock.

Wall Street Analyst Weigh In

DOCU has been the topic of a number of recent research reports. Hsbc Global Res upgraded DocuSign to a “moderate sell” rating in a report on Friday, December 6th. Piper Sandler increased 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. JMP Securities reiterated a “market outperform” rating and issued a $124.00 target price on shares of DocuSign in a report on Tuesday, January 7th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $90.00 target price (up from $57.00) on shares of DocuSign in a report on Friday, December 6th. Finally, Citigroup increased their target price on DocuSign from $87.00 to $113.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $92.45.

DocuSign Stock Performance

Shares of NASDAQ:DOCU opened at $87.34 on Wednesday. The stock’s fifty day simple moving average is $92.44 and its two-hundred day simple moving average is $75.87. DocuSign, Inc. has a 1-year low of $48.70 and a 1-year high of $107.86. The stock has a market cap of $17.64 billion, a PE ratio of 18.01, a price-to-earnings-growth ratio of 7.56 and a beta of 0.89.

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.