DocuSign, Inc. (NASDAQ:DOCU) Shares Acquired by Rhumbline Advisers

Rhumbline Advisers grew its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 118.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 608,123 shares of the company's stock after purchasing an additional 330,136 shares during the period. Rhumbline Advisers owned approximately 0.30% of DocuSign worth $54,695,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Modus Advisors LLC purchased a new stake in shares of DocuSign during the 4th quarter valued at $36,000. Itau Unibanco Holding S.A. purchased a new stake in shares of DocuSign during the 3rd quarter valued at $28,000. Avion Wealth lifted its holdings in shares of DocuSign by 309.2% during the 4th quarter. Avion Wealth now owns 487 shares of the company's stock valued at $43,000 after purchasing an additional 368 shares during the last quarter. Brooklyn Investment Group purchased a new stake in shares of DocuSign during the 3rd quarter valued at $33,000. Finally, Avior Wealth Management LLC lifted its holdings in shares of DocuSign by 36.5% during the 4th quarter. Avior Wealth Management LLC now owns 542 shares of the company's stock valued at $49,000 after purchasing an additional 145 shares during the last quarter. Hedge funds and other institutional investors own 77.64% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Royal Bank of Canada reiterated a "sector perform" rating and set a $90.00 price objective (up previously from $57.00) on shares of DocuSign in a report on Friday, December 6th. JMP Securities reissued a "market outperform" rating and issued a $124.00 target price on shares of DocuSign in a research report on Tuesday, January 7th. Piper Sandler upped their target price on DocuSign from $60.00 to $90.00 and gave the company a "neutral" rating in a research report on Friday, December 6th. JPMorgan Chase & Co. upped their target price on DocuSign from $50.00 to $70.00 and gave the company an "underweight" rating in a research report on Tuesday, December 3rd. Finally, Wells Fargo & Company upped their target price on DocuSign from $50.00 to $70.00 and gave the company an "underweight" rating in a research report on Friday, December 6th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, DocuSign presently has a consensus rating of "Hold" and an average target price of $92.45.

DocuSign Stock Down 0.7 %

Shares of NASDAQ:DOCU traded down $0.61 during trading on Wednesday, reaching $86.73. 1,734,695 shares of the company's stock traded hands, compared to its average volume of 2,044,050. DocuSign, Inc. has a fifty-two week low of $48.70 and a fifty-two week high of $107.86. The firm has a market cap of $17.52 billion, a PE ratio of 17.88, a P/E/G ratio of 7.03 and a beta of 0.89. The company has a 50-day simple moving average of $92.27 and a 200-day simple moving average of $76.12.

Insider Activity

In related news, CFO Blake Jeffrey Grayson sold 8,000 shares of the firm's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $86.90, for a total value of $695,200.00. Following the transaction, the chief financial officer now directly owns 77,851 shares of the company's stock, valued at approximately $6,765,251.90. This trade represents a 9.32 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Peter Solvik sold 10,000 shares of the firm'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 directly owns 150,253 shares in the company, valued at $13,712,088.78. This represents a 6.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 693,773 shares of company stock worth $66,727,926 in the last ninety days. Company insiders own 1.66% of the company's stock.

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.