Retirement Systems of Alabama Buys 51,922 Shares of Docusign Inc. $DOCU

Retirement Systems of Alabama grew its position in Docusign Inc. (NASDAQ:DOCU) by 11.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 519,106 shares of the company’s stock after acquiring an additional 51,922 shares during the period. Retirement Systems of Alabama owned 0.26% of Docusign worth $37,422,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Twin Peaks Wealth Advisors LLC acquired a new position in Docusign in the 2nd quarter worth about $43,000. First Horizon Advisors Inc. boosted its stake in shares of Docusign by 48.6% during the second quarter. First Horizon Advisors Inc. now owns 590 shares of the company’s stock valued at $46,000 after purchasing an additional 193 shares in the last quarter. SJS Investment Consulting Inc. grew its holdings in shares of Docusign by 5,318.2% during the third 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 last quarter. CX Institutional increased its stake in shares of Docusign by 5,860.0% in the third quarter. CX Institutional now owns 596 shares of the company’s stock valued at $43,000 after buying an additional 586 shares during the period. Finally, Hantz Financial Services Inc. raised its holdings in Docusign by 106.3% in the 2nd quarter. Hantz Financial Services Inc. now owns 848 shares of the company’s stock valued at $66,000 after buying an additional 437 shares during the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.

Docusign Price Performance

Shares of NASDAQ:DOCU opened at $57.44 on Monday. The business’s 50-day moving average is $66.39 and its 200-day moving average is $71.62. Docusign Inc. has a 1 year low of $55.46 and a 1 year high of $99.30. The company has a market capitalization of $11.50 billion, a price-to-earnings ratio of 40.17, a P/E/G ratio of 2.83 and a beta of 0.99.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on DOCU shares. Needham & Company LLC reissued a “hold” rating on shares of Docusign in a report on Wednesday, December 17th. Piper Sandler cut their price target on shares of Docusign from $90.00 to $75.00 and set a “neutral” rating on the stock in a report on Friday, December 5th. Zacks Research downgraded Docusign from a “strong-buy” rating to a “hold” rating in a report on Monday, November 24th. Bank of America lowered their target price on Docusign from $102.00 to $82.00 and set a “neutral” rating for the company in a research report on Friday, December 5th. Finally, Cantor Fitzgerald reaffirmed an “outperform” rating on shares of Docusign in a research note on Wednesday, December 17th. Six research analysts have rated the stock with a Buy rating and sixteen have given a Hold 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 $85.13.

Insider Activity

In other news, CRO Paula Hansen sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $67.05, for a total transaction of $402,300.00. Following the completion of the sale, the executive owned 68,970 shares of the company’s stock, valued at $4,624,438.50. This trade represents a 8.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Allan C. Thygesen sold 26,250 shares of Docusign stock in a transaction on Friday, January 9th. The shares were sold at an average price of $69.60, for a total transaction of $1,827,000.00. Following the completion of the sale, the chief executive officer owned 142,261 shares of the company’s stock, valued at $9,901,365.60. This represents a 15.58% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 78,292 shares of company stock worth $5,374,260. Company insiders own 1.66% 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.