Illinois Municipal Retirement Fund Acquires 17,464 Shares of Docusign Inc. $DOCU

Illinois Municipal Retirement Fund lifted its holdings in Docusign Inc. (NASDAQ:DOCU) by 15.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 133,488 shares of the company’s stock after purchasing an additional 17,464 shares during the period. Illinois Municipal Retirement Fund’s holdings in Docusign were worth $8,964,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Bank of America Corp DE grew its holdings in Docusign by 23.3% in the first quarter. Bank of America Corp DE now owns 1,193,163 shares of the company’s stock valued at $56,568,000 after purchasing an additional 225,801 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of Docusign by 247.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 349,038 shares of the company’s stock valued at $15,504,000 after buying an additional 248,597 shares in the last quarter. Jefferies Financial Group Inc. purchased a new position in shares of Docusign during the 2nd quarter valued at approximately $691,000. Two Sigma Securities LLC acquired a new stake in Docusign in the 2nd quarter valued at $1,376,000. Finally, Pale Fire Capital SE acquired a new stake in Docusign in the 2nd quarter valued at $4,797,000. Institutional investors and hedge funds own 77.64% of the company’s stock.

Docusign Price Performance

Shares of Docusign stock opened at $80.15 on Friday. The stock has a market capitalization of $14.98 billion, a P/E ratio of 47.71, a PEG ratio of 2.95 and a beta of 0.80. The business has a 50 day simple moving average of $73.71 and a two-hundred day simple moving average of $55.67. Docusign Inc. has a 12 month low of $40.16 and a 12 month high of $85.90.

Docusign (NASDAQ:DOCU) last issued its quarterly earnings results on Thursday, September 3rd. The company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.07. The firm had revenue of $875.75 million for the quarter, compared to analyst estimates of $867.22 million. Docusign had a return on equity of 18.29% and a net margin of 9.82%. The business’s revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.30 earnings per share. As a group, research analysts anticipate that Docusign Inc. will post 2.15 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Wells Fargo & Company boosted their price target on shares of Docusign from $55.00 to $60.00 and gave the stock an “equal weight” rating in a report on Friday, September 4th. UBS Group increased their price objective on shares of Docusign from $54.00 to $70.00 and gave the company a “neutral” rating in a report on Friday, September 4th. Evercore set a $65.00 target price on shares of Docusign in a research report on Friday, September 4th. Yorkville Ives assumed coverage on shares of Docusign in a research note on Monday, October 5th. They set an “in-line” rating and a $72.00 target price for the company. Finally, Wall Street Zen cut shares of Docusign from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 2nd. Three analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $67.62.

Insider Transactions at Docusign

In other Docusign news, insider James Shaughnessy sold 12,000 shares of the firm’s stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $68.80, for a total value of $825,600.00. Following the transaction, the insider owned 50,591 shares in the company, valued at approximately $3,480,660.80. This trade represents a 19.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Allan Thygesen sold 26,250 shares of Docusign stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $69.29, for a total transaction of $1,818,862.50. Following the sale, the chief executive officer directly owned 166,801 shares in the company, valued at approximately $11,557,641.29. This trade represents a 13.60% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 154,168 shares of company stock worth $10,491,896 in the last quarter. 0.59% of the stock is owned by insiders.

About Docusign

DocuSign, Inc. provides software for preparing, signing, managing and automating agreements. Its platform helps businesses and individuals complete agreements digitally, reducing reliance on paper-based processes. The company’s offerings include DocuSign eSignature, which enables users to sign and request signatures electronically, as well as tools for contract lifecycle management and agreement workflows. Its Intelligent Agreement Management products use artificial intelligence to help organizations analyze and manage agreement-related information and processes.