Retirement Systems of Alabama Has $41.96 Million Stock Holdings in DocuSign, Inc. (NASDAQ:DOCU)

Retirement Systems of Alabama lifted its position in DocuSign, Inc. (NASDAQ:DOCU) by 219.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 466,478 shares of the company’s stock after acquiring an additional 320,383 shares during the period. Retirement Systems of Alabama’s holdings in DocuSign were worth $41,955,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. E. Ohman J or Asset Management AB raised its position in shares of DocuSign by 216.7% in the 4th quarter. E. Ohman J or Asset Management AB now owns 9,500 shares of the company’s stock valued at $854,000 after acquiring an additional 6,500 shares during the period. Optas LLC bought a new stake in DocuSign during the 4th quarter worth approximately $258,000. Jennison Associates LLC bought a new stake in DocuSign during the 4th quarter worth approximately $12,897,000. Journey Strategic Wealth LLC increased its stake in DocuSign by 22.7% during the 4th quarter. Journey Strategic Wealth LLC now owns 4,803 shares of the company’s stock worth $432,000 after purchasing an additional 889 shares in the last quarter. Finally, DAVENPORT & Co LLC increased its stake in DocuSign by 11.9% during the 4th quarter. DAVENPORT & Co LLC now owns 12,826 shares of the company’s stock worth $1,154,000 after purchasing an additional 1,363 shares in the last quarter. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at DocuSign

In other DocuSign news, CFO Blake Jeffrey Grayson sold 15,588 shares of the firm’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $97.78, for a total transaction of $1,524,194.64. Following the completion of the sale, the chief financial officer now owns 85,851 shares of the company’s stock, valued at $8,394,510.78. This trade represents a 15.37 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Teresa Briggs sold 534 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $94.60, for a total value of $50,516.40. Following the sale, the director now directly owns 7,736 shares of the company’s stock, valued at $731,825.60. This represents a 6.46 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 685,773 shares of company stock valued at $66,032,726. 1.66% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Jefferies Financial Group increased their target price on DocuSign from $80.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. HSBC reissued a “reduce” rating on shares of DocuSign in a research note on Friday, December 6th. Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a research note on Tuesday. Morgan Stanley increased their target price on DocuSign from $62.00 to $97.00 and gave the stock an “equal weight” rating in a research note on Friday, December 6th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $124.00 price target on shares of DocuSign in a research note on Tuesday, January 7th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $92.45.

DocuSign Trading Down 0.0 %

NASDAQ:DOCU opened at $96.47 on Wednesday. DocuSign, Inc. has a 1-year low of $48.70 and a 1-year high of $107.86. The firm has a fifty day simple moving average of $91.54 and a 200 day simple moving average of $73.38. The stock has a market capitalization of $19.49 billion, a PE ratio of 19.89, a P/E/G ratio of 8.74 and a beta of 0.89.

DocuSign Company 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.