Louisiana State Employees Retirement System Takes $5.06 Million Position in DocuSign, Inc. (NASDAQ:DOCU)

Louisiana State Employees Retirement System bought a new position in DocuSign, Inc. (NASDAQ:DOCU) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 56,300 shares of the company’s stock, valued at approximately $5,064,000.

Other hedge funds have also recently made changes to their positions in the company. Itau Unibanco Holding S.A. bought a new stake in DocuSign during the 3rd quarter worth approximately $28,000. Brooklyn Investment Group purchased a new position in DocuSign during the 3rd quarter valued at approximately $33,000. Modus Advisors LLC purchased a new stake in DocuSign during the fourth quarter valued at $36,000. Reston Wealth Management LLC purchased a new stake in shares of DocuSign during the 3rd quarter valued at about $47,000. Finally, Avior Wealth Management LLC raised its holdings in DocuSign by 36.5% during the 4th quarter. Avior Wealth Management LLC now owns 542 shares of the company’s stock valued at $49,000 after buying an additional 145 shares during the period. 77.64% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at DocuSign

In other DocuSign news, Director Peter Solvik sold 10,000 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $91.26, for a total value of $912,600.00. Following the transaction, the director now directly owns 150,253 shares in the company, valued at approximately $13,712,088.78. This represents a 6.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Blake Jeffrey Grayson sold 15,588 shares of DocuSign stock in a transaction dated 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 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 685,773 shares of company stock valued at $66,032,726. 1.66% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

DOCU has been the topic of a number of analyst reports. JPMorgan Chase & Co. upped their target price on DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a research note on Tuesday, December 3rd. Citigroup lifted their price objective on shares of DocuSign from $87.00 to $113.00 and gave the company a “buy” rating in a report on Friday, December 6th. Wells Fargo & Company upped their target price on shares of DocuSign from $50.00 to $70.00 and gave the stock an “underweight” rating in a research note on Friday, December 6th. HSBC reiterated a “reduce” rating on shares of DocuSign in a report on Friday, December 6th. Finally, Piper Sandler lifted their target price on DocuSign from $60.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, DocuSign presently has a consensus rating of “Hold” and an average price target of $92.45.

DocuSign Price Performance

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

DocuSign 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.