Illinois Municipal Retirement Fund Acquires 21,796 Shares of Docusign Inc. $DOCU

Illinois Municipal Retirement Fund grew its holdings in shares of Docusign Inc. (NASDAQ:DOCU) by 13.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 186,510 shares of the company’s stock after purchasing an additional 21,796 shares during the period. Illinois Municipal Retirement Fund owned approximately 0.09% of Docusign worth $13,446,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Twin Peaks Wealth Advisors LLC purchased a new position in Docusign in the second quarter worth about $43,000. SJS Investment Consulting Inc. lifted its stake in shares of Docusign by 5,318.2% in the 3rd quarter. SJS Investment Consulting Inc. now owns 596 shares of the company’s stock worth $43,000 after purchasing an additional 585 shares during the period. CX Institutional raised its position in Docusign by 5,860.0% in the third quarter. CX Institutional now owns 596 shares of the company’s stock worth $43,000 after acquiring an additional 586 shares during the period. First Horizon Advisors Inc. raised its holdings in Docusign by 48.6% in the 2nd quarter. First Horizon Advisors Inc. now owns 590 shares of the company’s stock worth $46,000 after purchasing an additional 193 shares during the period. Finally, Bessemer Group Inc. raised its stake in shares of Docusign by 66.9% in the third quarter. Bessemer Group Inc. now owns 873 shares of the company’s stock worth $62,000 after buying an additional 350 shares during the period. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on DOCU shares. Piper Sandler lowered their target price on shares of Docusign from $90.00 to $75.00 and set a “neutral” rating on the stock in a research note on Friday, December 5th. JPMorgan Chase & Co. cut their target price on shares of Docusign from $80.00 to $78.00 and set a “neutral” rating for the company in a report on Friday, December 5th. Cantor Fitzgerald reissued an “outperform” rating on shares of Docusign in a research note on Wednesday, December 17th. Bank of America reduced their target price on shares of Docusign from $102.00 to $82.00 and set a “neutral” rating on the stock in a research note on Friday, December 5th. Finally, Evercore decreased their price target on Docusign from $92.00 to $80.00 and set an “in-line” rating for the company in a research note on Friday, December 5th. Six investment analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, Docusign has a consensus rating of “Hold” and a consensus price target of $85.13.

Docusign Price Performance

Shares of DOCU stock opened at $43.74 on Friday. Docusign Inc. has a 1-year low of $41.53 and a 1-year high of $94.67. The company has a market cap of $8.76 billion, a P/E ratio of 30.59, a PEG ratio of 1.94 and a beta of 1.00. The stock’s 50-day moving average is $61.43 and its 200 day moving average is $68.94.

Insider Buying and Selling

In other news, insider Robert Chatwani sold 13,818 shares of the business’s stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $68.33, for a total transaction of $944,183.94. Following the sale, the insider owned 70,197 shares in the company, valued at approximately $4,796,561.01. The trade was a 16.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Paula Hansen sold 6,000 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $67.05, for a total transaction of $402,300.00. Following the sale, the executive directly owned 68,970 shares in the company, valued at approximately $4,624,438.50. This represents a 8.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 78,292 shares of company stock valued at $5,374,260 over the last quarter. Insiders own 1.01% of the company’s stock.

Docusign Company Profile

DocuSign, Inc (NASDAQ: DOCU) is a leading provider of electronic signature and digital transaction management solutions. The company’s flagship offering, DocuSign eSignature, enables organizations to send, sign and manage legally binding electronic agreements securely in the cloud. Beyond eSignature, DocuSign’s Agreement Cloud combines contract lifecycle management, document generation, and workflow automation to streamline agreement processes from initiation through execution and storage.

DocuSign’s platform serves a diverse customer base spanning industries such as finance, real estate, healthcare, technology, and government.