56,300 Shares in DocuSign, Inc. (NASDAQ:DOCU) Purchased by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System acquired a new position in DocuSign, Inc. (NASDAQ:DOCU) during the fourth quarter, Holdings Channel reports. The firm acquired 56,300 shares of the company’s stock, valued at approximately $5,064,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DOCU. Avior Wealth Management LLC lifted its holdings in shares of DocuSign by 36.5% during the fourth quarter. Avior Wealth Management LLC now owns 542 shares of the company’s stock valued at $49,000 after purchasing an additional 145 shares during the last quarter. Linden Thomas Advisory Services LLC increased its stake in shares of DocuSign by 1.1% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 13,540 shares of the company’s stock worth $1,218,000 after purchasing an additional 149 shares during the last quarter. J.W. Cole Advisors Inc. increased its holdings in shares of DocuSign by 2.0% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 7,946 shares of the company’s stock valued at $493,000 after acquiring an additional 155 shares during the last quarter. Resonant Capital Advisors LLC lifted its position in DocuSign by 0.9% during the 3rd quarter. Resonant Capital Advisors LLC now owns 17,516 shares of the company’s stock worth $1,088,000 after acquiring an additional 157 shares during the last quarter. Finally, Optimist Retirement Group LLC lifted its holdings in shares of DocuSign by 3.8% during the third quarter. Optimist Retirement Group LLC now owns 4,416 shares of the company’s stock worth $274,000 after buying an additional 161 shares during the last quarter. 77.64% of the stock is currently owned by institutional investors.

DocuSign Trading Up 0.4 %

DOCU stock opened at $88.29 on Thursday. The firm has a 50 day moving average of $92.94 and a 200-day moving average of $74.95. The firm has a market capitalization of $17.84 billion, a P/E ratio of 18.20, a price-to-earnings-growth ratio of 7.56 and a beta of 0.89. DocuSign, Inc. has a 12 month low of $48.70 and a 12 month high of $107.86.

Analyst Upgrades and Downgrades

DOCU has been the subject of a number of recent research reports. Morgan Stanley upped their target price on DocuSign from $62.00 to $97.00 and gave the company an “equal weight” rating in a research note on Friday, December 6th. JPMorgan Chase & Co. increased their price target on DocuSign from $50.00 to $70.00 and gave the stock an “underweight” rating in a research report on Tuesday, December 3rd. Robert W. Baird boosted their price objective on shares of DocuSign from $59.00 to $100.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Citigroup raised their price target on DocuSign from $87.00 to $113.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Finally, UBS Group increased their price target on DocuSign from $60.00 to $100.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $92.45.

Insider Buying and Selling at DocuSign

In other DocuSign news, CEO Allan C. Thygesen sold 7,763 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $80.54, for a total transaction of $625,232.02. Following the transaction, the chief executive officer now owns 100,062 shares in the company, valued at approximately $8,058,993.48. This represents a 7.20 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Blake Jeffrey Grayson sold 15,588 shares of the firm’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $97.78, for a total value of $1,524,194.64. Following the transaction, the chief financial officer now owns 85,851 shares of the company’s stock, valued at $8,394,510.78. The trade was a 15.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 685,773 shares of company stock worth $66,032,726 over the last ninety days. Insiders own 1.66% of the company’s stock.

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.