CHURCHILL MANAGEMENT Corp Purchases Shares of 9,411 DocuSign, Inc. (NASDAQ:DOCU)

CHURCHILL MANAGEMENT Corp acquired a new stake in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 9,411 shares of the company's stock, valued at approximately $846,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans purchased a new stake in shares of DocuSign in the second quarter valued at about $115,795,000. Pacer Advisors Inc. lifted its position in DocuSign by 77.9% in the second quarter. Pacer Advisors Inc. now owns 3,519,969 shares of the company's stock valued at $188,318,000 after purchasing an additional 1,541,816 shares during the period. KBC Group NV boosted its holdings in DocuSign by 209.8% in the 3rd quarter. KBC Group NV now owns 1,156,874 shares of the company's stock valued at $71,830,000 after purchasing an additional 783,419 shares in the last quarter. Skandinaviska Enskilda Banken AB publ increased its position in DocuSign by 151.3% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 865,872 shares of the company's stock worth $46,324,000 after purchasing an additional 521,292 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec raised its stake in shares of DocuSign by 42.4% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,459,580 shares of the company's stock worth $90,625,000 after buying an additional 434,312 shares in the last quarter. 77.64% of the stock is owned by hedge funds and other institutional investors.

DocuSign Price Performance

NASDAQ:DOCU traded down $1.56 during trading hours on Friday, reaching $89.60. 2,379,686 shares of the company traded hands, compared to its average volume of 2,200,838. DocuSign, Inc. has a 1-year low of $48.70 and a 1-year high of $107.86. The stock has a market cap of $18.10 billion, a P/E ratio of 18.47, a P/E/G ratio of 8.17 and a beta of 0.88. The firm's 50-day moving average is $88.76 and its 200-day moving average is $70.15.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on DOCU. Royal Bank of Canada restated a "sector perform" rating and issued a $90.00 price target (up from $57.00) on shares of DocuSign in a research note on Friday, December 6th. Hsbc Global Res raised shares of DocuSign to a "moderate sell" rating in a research note on Friday, December 6th. HSBC reiterated a "reduce" rating on shares of DocuSign in a report on Friday, December 6th. Jefferies Financial Group upped their target price on shares of DocuSign from $80.00 to $95.00 and gave the stock a "buy" rating in a research report on Tuesday, December 3rd. Finally, Wells Fargo & Company lifted their price target on shares of DocuSign from $50.00 to $70.00 and gave the company an "underweight" rating 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 assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $92.45.

Insider Buying and Selling

In other news, Director Peter Solvik sold 10,000 shares of the company's stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $91.26, for a total transaction of $912,600.00. Following the completion of the transaction, the director now owns 150,253 shares of the company's stock, valued at $13,712,088.78. This represents a 6.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Allan C. Thygesen sold 7,764 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $69.95, for a total transaction of $543,091.80. Following the transaction, the chief executive officer now owns 107,825 shares in the company, valued at approximately $7,542,358.75. The trade was a 6.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 693,537 shares of company stock worth $66,575,817. 1.66% of the stock is owned by insiders.

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.