California State Teachers Retirement System Trims Stock Position in Docusign Inc. $DOCU

California State Teachers Retirement System lessened its stake in Docusign Inc. (NASDAQ:DOCU) by 17.8% in the 1st quarter, HoldingsChannel.com reports. The fund owned 241,966 shares of the company’s stock after selling 52,268 shares during the period. California State Teachers Retirement System’s holdings in Docusign were worth $11,472,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Modus Advisors LLC acquired a new stake in shares of Docusign during the fourth quarter worth about $27,000. Torren Management LLC purchased a new stake in shares of Docusign in the 4th quarter valued at about $28,000. Cary Street Partners Investment Advisory LLC boosted its position in shares of Docusign by 309.5% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 561 shares of the company’s stock valued at $38,000 after purchasing an additional 424 shares during the period. Basepoint Wealth LLC acquired a new stake in shares of Docusign in the 4th quarter valued at about $39,000. Finally, WealthCollab LLC grew its stake in Docusign by 372.4% during the 1st quarter. WealthCollab LLC now owns 855 shares of the company’s stock worth $41,000 after buying an additional 674 shares during the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Insider Activity

In related news, insider Robert Chatwani sold 15,902 shares of the stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $43.01, for a total transaction of $683,945.02. Following the completion of the sale, the insider directly owned 72,805 shares of the company’s stock, valued at $3,131,343.05. This trade represents a 17.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider James P. Shaughnessy sold 12,000 shares of Docusign stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $45.54, for a total transaction of $546,480.00. Following the completion of the transaction, the insider owned 52,815 shares in the company, valued at approximately $2,405,195.10. This trade represents a 18.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 76,695 shares of company stock valued at $3,476,002. 0.59% of the stock is currently owned by company insiders.

Docusign Stock Up 0.5%

DOCU opened at $55.13 on Tuesday. Docusign Inc. has a 52 week low of $40.16 and a 52 week high of $86.65. The business has a 50 day moving average price of $48.53 and a two-hundred day moving average price of $48.25. The company has a market cap of $10.53 billion, a PE ratio of 35.80, a P/E/G ratio of 1.62 and a beta of 0.87.

Docusign (NASDAQ:DOCU) last announced its earnings results on Thursday, June 4th. The company reported $1.09 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.10. The company had revenue of $830.24 million for the quarter, compared to the consensus estimate of $824.71 million. Docusign had a return on equity of 17.48% and a net margin of 9.59%.The company’s revenue was up 8.7% on a year-over-year basis. During the same period last year, the business posted $0.90 EPS. As a group, sell-side analysts expect that Docusign Inc. will post 2.03 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on DOCU shares. Wedbush cut their price target on Docusign from $60.00 to $58.00 and set a “neutral” rating on the stock in a research report on Friday, June 5th. Citigroup increased their price objective on Docusign from $50.00 to $54.00 and gave the company a “neutral” rating in a report on Friday, June 5th. Weiss Ratings upgraded shares of Docusign from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, July 14th. UBS Group set a $60.00 target price on shares of Docusign in a report on Friday, June 5th. Finally, BTIG Research reduced their price target on shares of Docusign from $70.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, June 5th. Three analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $60.27.

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.