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

South Dakota Investment Council grew its position in shares of Docusign Inc. (NASDAQ:DOCU) by 140.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 53,373 shares of the company’s stock after buying an additional 31,192 shares during the period. South Dakota Investment Council’s holdings in Docusign were worth $3,848,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. NewEdge Advisors LLC boosted its holdings in Docusign by 36.4% in the 1st quarter. NewEdge Advisors LLC now owns 9,202 shares of the company’s stock valued at $749,000 after purchasing an additional 2,457 shares during the period. AlphaQuest LLC bought a new position in Docusign during the 2nd quarter worth $129,000. Envestnet Asset Management Inc. raised its holdings in Docusign by 58.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 281,525 shares of the company’s stock valued at $21,928,000 after acquiring an additional 104,293 shares in the last quarter. Hantz Financial Services Inc. grew its holdings in shares of Docusign by 106.3% during the 2nd quarter. Hantz Financial Services Inc. now owns 848 shares of the company’s stock worth $66,000 after purchasing an additional 437 shares in the last quarter. Finally, Atria Investments Inc increased its position in shares of Docusign by 5.6% in the second quarter. Atria Investments Inc now owns 8,455 shares of the company’s stock worth $659,000 after purchasing an additional 449 shares during the period. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Docusign

In related news, CEO Allan C. Thygesen sold 26,250 shares of the 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 completion of the sale, the chief executive officer directly owned 142,261 shares in the company, valued at $9,901,365.60. This represents a 15.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Robert Chatwani sold 13,818 shares of the firm’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $68.33, for a total value of $944,183.94. Following the transaction, the insider directly owned 70,197 shares of the company’s stock, valued at approximately $4,796,561.01. This represents a 16.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 77,476 shares of company stock worth $5,309,274. 1.66% of the stock is currently owned by insiders.

Docusign Trading Up 1.3%

NASDAQ:DOCU opened at $46.74 on Wednesday. The stock’s 50-day moving average is $55.15 and its 200-day moving average is $66.27. Docusign Inc. has a 1-year low of $40.16 and a 1-year high of $94.67. The stock has a market cap of $9.36 billion, a P/E ratio of 32.69, a price-to-earnings-growth ratio of 2.01 and a beta of 1.03.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Wedbush cut their price objective on shares of Docusign from $85.00 to $75.00 and set a “neutral” rating for the company in a research report on Friday, December 5th. Robert W. Baird reduced their price target on shares of Docusign from $90.00 to $75.00 and set a “neutral” rating on the stock in a research report on Friday, December 5th. Citigroup reissued a “market outperform” rating on shares of Docusign in a research note on Monday. Royal Bank Of Canada cut their target price on 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, Needham & Company LLC reiterated a “hold” rating on shares of Docusign in a research note on Wednesday, December 17th. Five equities research analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $78.80.

Docusign Profile

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.