Miracle Mile Advisors LLC Buys Shares of 2,861 DocuSign, Inc. (NASDAQ:DOCU)

Miracle Mile Advisors LLC bought a new position in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 2,861 shares of the company's stock, valued at approximately $257,000.

A number of other large investors have also made changes to their positions in the stock. Thrivent Financial for Lutherans purchased a new position in shares of DocuSign during the 2nd quarter worth $115,795,000. Pacer Advisors Inc. increased its position in shares of DocuSign by 77.9% during the second quarter. Pacer Advisors Inc. now owns 3,519,969 shares of the company's stock valued at $188,318,000 after acquiring an additional 1,541,816 shares during the last quarter. KBC Group NV raised its stake in shares of 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 acquiring an additional 783,419 shares during the period. Skandinaviska Enskilda Banken AB publ raised its stake in shares of DocuSign by 151.3% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 865,872 shares of the company's stock valued at $46,324,000 after acquiring an additional 521,292 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of DocuSign by 42.4% in 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 acquiring an additional 434,312 shares during the last quarter. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on DOCU shares. 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. JPMorgan Chase & Co. raised their target price on DocuSign from $50.00 to $70.00 and gave the company an "underweight" rating in a report on Tuesday, December 3rd. Piper Sandler boosted their price target on shares of DocuSign from $60.00 to $90.00 and gave the stock a "neutral" rating in a research note on Friday, December 6th. Jefferies Financial Group raised their price objective on shares of DocuSign from $80.00 to $95.00 and gave the company a "buy" rating in a research note on Tuesday, December 3rd. Finally, HSBC reaffirmed a "reduce" rating on shares of DocuSign in a research note on Friday, December 6th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $92.45.

Insider Transactions at DocuSign

In other DocuSign news, insider James P. Shaughnessy sold 7,500 shares of DocuSign stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $90.17, for a total value of $676,275.00. Following the transaction, the insider now directly owns 43,781 shares in the company, valued at approximately $3,947,732.77. The trade was a 14.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Teresa Briggs sold 534 shares of the business's stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $94.60, for a total value of $50,516.40. Following the completion of the transaction, the director now directly owns 7,736 shares in the company, valued at approximately $731,825.60. The trade was a 6.46 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 693,537 shares of company stock worth $66,575,817. 1.66% of the stock is currently owned by insiders.

DocuSign Price Performance

Shares of DOCU traded down $1.56 during mid-day trading on Friday, reaching $89.60. The company's stock had a trading volume of 2,378,748 shares, compared to its average volume of 2,199,847. DocuSign, Inc. has a 12-month low of $48.70 and a 12-month high of $107.86. The stock has a market cap of $18.10 billion, a PE ratio of 18.47, a price-to-earnings-growth ratio of 8.17 and a beta of 0.88. The company's 50 day moving average is $88.26 and its 200 day moving average is $69.77.

DocuSign Company 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.