Illinois Municipal Retirement Fund Boosts Stock Position in Docusign Inc. $DOCU

Illinois Municipal Retirement Fund lifted its position in Docusign Inc. (NASDAQ:DOCU) by 13.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 186,510 shares of the company’s stock after purchasing an additional 21,796 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Docusign were worth $13,446,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of DOCU. Twin Peaks Wealth Advisors LLC acquired a new position in Docusign in the 2nd quarter worth approximately $43,000. SJS Investment Consulting Inc. boosted its holdings in shares of Docusign by 5,318.2% in the 3rd quarter. SJS Investment Consulting Inc. now owns 596 shares of the company’s stock valued at $43,000 after acquiring an additional 585 shares during the last quarter. CX Institutional increased its stake in shares of Docusign by 5,860.0% in the third quarter. CX Institutional now owns 596 shares of the company’s stock worth $43,000 after acquiring an additional 586 shares during the period. First Horizon Advisors Inc. raised its holdings in shares of Docusign by 48.6% during the second quarter. First Horizon Advisors Inc. now owns 590 shares of the company’s stock worth $46,000 after purchasing an additional 193 shares during the last quarter. Finally, Bessemer Group Inc. raised its holdings in shares of Docusign by 66.9% during the third quarter. Bessemer Group Inc. now owns 873 shares of the company’s stock worth $62,000 after purchasing an additional 350 shares during the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Insider Activity

In related news, CRO Paula Hansen sold 6,000 shares of Docusign stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $67.05, for a total value of $402,300.00. Following the sale, the executive owned 68,970 shares of the company’s stock, valued at approximately $4,624,438.50. This trade represents a 8.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Allan C. Thygesen sold 26,250 shares of the business’s stock in a transaction on Friday, January 9th. The stock was sold at an average price of $69.60, for a total transaction of $1,827,000.00. Following the completion of the sale, the chief executive officer directly owned 142,261 shares of the company’s stock, valued at approximately $9,901,365.60. The trade was a 15.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 78,292 shares of company stock worth $5,374,260. Insiders own 1.01% of the company’s stock.

Docusign Trading Down 1.4%

NASDAQ DOCU opened at $43.74 on Friday. The stock has a market capitalization of $8.76 billion, a price-to-earnings ratio of 30.59, a PEG ratio of 1.94 and a beta of 1.00. The stock has a 50-day moving average of $61.43 and a 200 day moving average of $68.94. Docusign Inc. has a twelve month low of $41.53 and a twelve month high of $94.67.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Robert W. Baird lowered their price target on shares of Docusign from $90.00 to $75.00 and set a “neutral” rating on the stock in a report on Friday, December 5th. Cantor Fitzgerald reissued an “outperform” rating on shares of Docusign in a report on Wednesday, December 17th. Zacks Research downgraded Docusign from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 24th. Royal Bank Of Canada reduced their price target on Docusign from $95.00 to $70.00 and set a “sector perform” rating for the company in a research report on Monday, January 5th. Finally, Wells Fargo & Company lowered their price objective on Docusign from $85.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Friday, December 5th. Six research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $85.13.

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.