DocuSign, Inc. (NASDAQ:DOCU) Shares Purchased by Retirement Systems of Alabama

Retirement Systems of Alabama boosted its stake in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 219.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 466,478 shares of the company's stock after acquiring an additional 320,383 shares during the period. Retirement Systems of Alabama owned 0.23% of DocuSign worth $41,955,000 at the end of the most recent quarter.

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

Insider Buying and Selling

In other DocuSign news, CEO Allan C. Thygesen sold 7,763 shares of the company's stock in a transaction on Monday, December 2nd. The stock was 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. This represents a 7.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Daniel D. Springer sold 581,588 shares of DocuSign stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $97.04, for a total value of $56,437,299.52. Following the completion of the transaction, the director now owns 906,430 shares in the company, valued at $87,959,967.20. This represents 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 valued at $66,032,726 over the last quarter. 1.66% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

DOCU has been the subject of several research reports. Needham & Company LLC reiterated a "hold" rating on shares of DocuSign in a research report on Tuesday. 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 report on Friday, December 6th. Morgan Stanley boosted their price objective on DocuSign from $62.00 to $97.00 and gave the stock an "equal weight" rating in a research note on Friday, December 6th. JMP Securities reaffirmed a "market outperform" rating and issued a $124.00 price objective on shares of DocuSign in a research note on Tuesday, January 7th. Finally, UBS Group increased their price target on DocuSign from $60.00 to $100.00 and gave the company a "neutral" rating in a report on Friday, December 6th. Three research 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. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $92.45.

DocuSign Stock Up 0.4 %

DOCU traded up $0.42 on Wednesday, reaching $96.89. 1,567,465 shares of the company traded hands, compared to its average volume of 2,142,868. The company has a market cap of $19.57 billion, a P/E ratio of 19.98, a price-to-earnings-growth ratio of 8.74 and a beta of 0.89. DocuSign, Inc. has a one year low of $48.70 and a one year high of $107.86. The firm has a fifty day simple moving average of $91.77 and a two-hundred day simple moving average of $73.66.

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.