DocuSign, Inc. (NASDAQ:DOCU) Shares Purchased by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund grew its position in DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 103.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 106,695 shares of the company's stock after buying an additional 54,251 shares during the period. Illinois Municipal Retirement Fund owned 0.05% of DocuSign worth $9,596,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Kestra Investment Management LLC purchased a new stake in shares of DocuSign in the 4th quarter valued at approximately $30,000. First Horizon Advisors Inc. grew its stake in shares of DocuSign by 102.6% in the 4th quarter. First Horizon Advisors Inc. now owns 397 shares of the company's stock valued at $36,000 after buying an additional 201 shares during the period. Modus Advisors LLC purchased a new stake in shares of DocuSign in the 4th quarter valued at approximately $36,000. Itau Unibanco Holding S.A. purchased a new stake in shares of DocuSign in the 3rd quarter valued at approximately $28,000. Finally, Avion Wealth grew its stake in shares of DocuSign by 309.2% in the 4th quarter. Avion Wealth now owns 487 shares of the company's stock valued at $43,000 after buying an additional 368 shares during the period. Hedge funds and other institutional investors own 77.64% of the company's stock.

Insider Buying and Selling at DocuSign

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on DOCU. Wells Fargo & Company increased their price target on shares of DocuSign from $50.00 to $70.00 and gave the company an "underweight" rating in a research note on Friday, December 6th. Morgan Stanley increased their price target on shares of 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 objective on shares of DocuSign from $50.00 to $70.00 and gave the stock an "underweight" rating in a research report on Tuesday, December 3rd. Hsbc Global Res raised shares of DocuSign to a "moderate sell" rating in a research report on Friday, December 6th. Finally, HSBC reaffirmed a "reduce" rating on shares of DocuSign in a research report on Friday, December 6th. Three investment 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. According to MarketBeat.com, DocuSign has a consensus rating of "Hold" and an average target price of $92.45.

DocuSign Stock Up 2.3 %

DOCU stock traded up $1.89 during midday trading on Friday, hitting $83.17. The company's stock had a trading volume of 2,316,769 shares, compared to its average volume of 2,043,412. DocuSign, Inc. has a 52-week low of $48.70 and a 52-week high of $107.86. The firm has a market capitalization of $16.80 billion, a P/E ratio of 17.15, a PEG ratio of 6.94 and a beta of 0.89. The firm has a 50-day simple moving average of $90.43 and a 200-day simple moving average of $77.57.

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.