Illinois Municipal Retirement Fund Acquires 54,251 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Illinois Municipal Retirement Fund boosted its holdings in DocuSign, Inc. (NASDAQ:DOCU) by 103.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 106,695 shares of the company’s stock after purchasing an additional 54,251 shares during the period. Illinois Municipal Retirement Fund’s holdings in DocuSign were worth $9,596,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. bought a new position in DocuSign in the 3rd quarter worth approximately $28,000. Kestra Investment Management LLC bought a new position in DocuSign in the 4th quarter worth approximately $30,000. Brooklyn Investment Group bought a new position in DocuSign in the 3rd quarter worth approximately $33,000. Modus Advisors LLC bought a new position in DocuSign in the 4th quarter worth approximately $36,000. Finally, First Horizon Advisors Inc. increased its position in DocuSign by 102.6% in the 4th quarter. First Horizon Advisors Inc. now owns 397 shares of the company’s stock worth $36,000 after buying an additional 201 shares during the period. 77.64% of the stock is owned by institutional investors.

DocuSign Price Performance

Shares of DOCU stock opened at $81.69 on Wednesday. The stock’s fifty day simple moving average is $91.12 and its 200 day simple moving average is $77.29. The firm has a market cap of $16.50 billion, a price-to-earnings ratio of 16.84, a P/E/G ratio of 6.94 and a beta of 0.89. DocuSign, Inc. has a one year low of $48.70 and a one year high of $107.86.

Analysts Set New Price Targets

DOCU has been the topic of a number of research reports. Morgan Stanley boosted their price objective on DocuSign from $62.00 to $97.00 and gave the company an “equal weight” rating in a research report on Friday, December 6th. Hsbc Global Res upgraded DocuSign to a “moderate sell” rating in a research report on Friday, December 6th. Jefferies Financial Group boosted their price objective on DocuSign from $80.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Wells Fargo & Company boosted their price objective on DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a research report on Friday, December 6th. Finally, Robert W. Baird boosted their price objective on DocuSign from $59.00 to $100.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, DocuSign currently has a consensus rating of “Hold” and a consensus price target of $92.45.

Insider Activity at DocuSign

In other DocuSign news, CEO Allan C. Thygesen sold 7,763 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $80.54, for a total value of $625,232.02. Following the transaction, the chief executive officer now owns 100,062 shares of the company’s stock, valued at approximately $8,058,993.48. The trade was a 7.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Blake Jeffrey Grayson sold 8,000 shares of the business’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $86.90, for a total value of $695,200.00. Following the completion of the transaction, the chief financial officer now directly owns 77,851 shares in the company, valued at approximately $6,765,251.90. This represents a 9.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 693,773 shares of company stock valued at $66,727,926 in the last 90 days. 1.66% of the stock is owned by corporate insiders.

About DocuSign

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.