Retirement Systems of Alabama Acquires 320,383 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Retirement Systems of Alabama raised its holdings in DocuSign, Inc. (NASDAQ:DOCU) by 219.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 466,478 shares of the company’s stock after buying an additional 320,383 shares during the quarter. Retirement Systems of Alabama owned 0.23% of DocuSign worth $41,955,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Toronto Dominion Bank increased its holdings in DocuSign by 30.3% in the 3rd quarter. Toronto Dominion Bank now owns 26,159 shares of the company’s stock valued at $1,624,000 after buying an additional 6,081 shares during the period. Inspire Investing LLC bought a new stake in DocuSign in the 3rd quarter valued at $911,000. Charles Schwab Investment Management Inc. increased its holdings in DocuSign by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,328,355 shares of the company’s stock valued at $82,478,000 after buying an additional 16,014 shares during the period. International Assets Investment Management LLC increased its holdings in DocuSign by 5,660.8% in the 3rd quarter. International Assets Investment Management LLC now owns 438,914 shares of the company’s stock valued at $27,252,000 after buying an additional 431,295 shares during the period. Finally, Quantinno Capital Management LP increased its holdings in DocuSign by 39.5% in the 3rd quarter. Quantinno Capital Management LP now owns 201,546 shares of the company’s stock valued at $12,514,000 after buying an additional 57,104 shares during the period. Institutional investors own 77.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Morgan Stanley boosted their price target on shares of DocuSign from $62.00 to $97.00 and gave the company an “equal weight” rating in a report on Friday, December 6th. Robert W. Baird upped their target price on shares of DocuSign from $59.00 to $100.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. JPMorgan Chase & Co. upped their target price on shares of DocuSign from $50.00 to $70.00 and gave the stock an “underweight” rating in a report on Tuesday, December 3rd. Jefferies Financial Group upped their target price on shares of DocuSign from $80.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Finally, Piper Sandler upped their target price on shares of DocuSign from $60.00 to $90.00 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 assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $92.45.

DocuSign Stock Down 0.0 %

Shares of NASDAQ DOCU opened at $96.47 on Wednesday. The firm’s 50-day simple moving average is $91.54 and its 200 day simple moving average is $73.38. The company has a market cap of $19.49 billion, a price-to-earnings ratio of 19.89, a price-to-earnings-growth ratio of 8.74 and a beta of 0.89. DocuSign, Inc. has a 12-month low of $48.70 and a 12-month high of $107.86.

Insider Buying and Selling

In other DocuSign news, CEO Allan C. Thygesen sold 7,763 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $80.54, for a total transaction of $625,232.02. Following the transaction, the chief executive officer now directly 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 document filed with the SEC, which is accessible through this hyperlink. Also, Director Daniel D. Springer sold 581,588 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $97.04, for a total transaction of $56,437,299.52. Following the transaction, the director now owns 906,430 shares in the company, valued at approximately $87,959,967.20. The trade was a 39.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 685,773 shares of company stock worth $66,032,726 in the last 90 days. Corporate 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.