South Dakota Investment Council Buys 31,192 Shares of Docusign Inc. $DOCU

South Dakota Investment Council grew its position in shares of Docusign Inc. (NASDAQ:DOCU) by 140.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 53,373 shares of the company’s stock after purchasing an additional 31,192 shares during the quarter. South Dakota Investment Council’s holdings in Docusign were worth $3,848,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Norges Bank bought a new position in Docusign during the second quarter worth $140,987,000. Third Point LLC acquired a new stake in Docusign during the 2nd quarter worth about $48,681,000. Jupiter Asset Management Ltd. raised its position in shares of Docusign by 88.3% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 1,316,440 shares of the company’s stock worth $102,538,000 after acquiring an additional 617,200 shares in the last quarter. Alliancebernstein L.P. lifted its stake in shares of Docusign by 132.8% in the 2nd quarter. Alliancebernstein L.P. now owns 868,531 shares of the company’s stock valued at $67,650,000 after purchasing an additional 495,380 shares during the period. Finally, Andra AP fonden acquired a new position in shares of Docusign in the 3rd quarter valued at about $34,956,000. 77.64% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on DOCU shares. Cantor Fitzgerald reaffirmed an “outperform” rating on shares of Docusign in a research note on Wednesday, December 17th. Piper Sandler reduced their price objective on shares of Docusign from $90.00 to $75.00 and set a “neutral” rating for the company in a research report on Friday, December 5th. UBS Group dropped their target price on shares of Docusign from $85.00 to $75.00 and set a “neutral” rating on the stock in a research report on Friday, December 5th. Royal Bank Of Canada decreased their price target on shares of Docusign from $95.00 to $70.00 and set a “sector perform” rating for the company in a research note on Monday, January 5th. Finally, HSBC set a $53.00 price objective on shares of Docusign in a research report on Friday, February 13th. Five investment analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the stock. According to MarketBeat, Docusign currently has an average rating of “Hold” and an average price target of $78.80.

Docusign Price Performance

NASDAQ:DOCU opened at $46.74 on Wednesday. Docusign Inc. has a one year low of $40.16 and a one year high of $94.67. The company has a market cap of $9.36 billion, a PE ratio of 32.69, a PEG ratio of 2.01 and a beta of 1.03. The firm has a 50-day moving average of $55.15 and a 200-day moving average of $66.27.

Insider Transactions at Docusign

In other news, CRO Paula Hansen sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $67.05, for a total value of $402,300.00. Following the transaction, the executive owned 68,970 shares in the company, valued at $4,624,438.50. This trade represents a 8.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Allan C. Thygesen sold 26,250 shares of the company’s stock in a transaction on Friday, January 9th. The stock was sold at an average price of $69.60, for a total value of $1,827,000.00. Following the sale, the chief executive officer owned 142,261 shares of the company’s stock, valued at $9,901,365.60. This trade represents a 15.58% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 77,476 shares of company stock valued at $5,309,274. Corporate insiders own 1.66% of the company’s stock.

About Docusign

DocuSign, Inc (NASDAQ: DOCU) is a leading provider of electronic signature and digital transaction management solutions. The company’s flagship offering, DocuSign eSignature, enables organizations to send, sign and manage legally binding electronic agreements securely in the cloud. Beyond eSignature, DocuSign’s Agreement Cloud combines contract lifecycle management, document generation, and workflow automation to streamline agreement processes from initiation through execution and storage.

DocuSign’s platform serves a diverse customer base spanning industries such as finance, real estate, healthcare, technology, and government.