Mitchell Mcleod Pugh & Williams Inc. Makes New Investment in DocuSign, Inc. (NASDAQ:DOCU)

Mitchell Mcleod Pugh & Williams Inc. bought a new position in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 2,991 shares of the company's stock, valued at approximately $269,000.

Other hedge funds have also modified their holdings of the company. Massachusetts Financial Services Co. MA purchased a new stake in DocuSign during the 2nd quarter valued at about $1,709,000. Dimensional Fund Advisors LP grew its position in shares of DocuSign by 14.0% in the second quarter. Dimensional Fund Advisors LP now owns 610,728 shares of the company's stock valued at $32,671,000 after purchasing an additional 75,133 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in shares of DocuSign by 2.9% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 10,080 shares of the company's stock valued at $539,000 after purchasing an additional 286 shares during the last quarter. Sei Investments Co. lifted its position in DocuSign by 16.4% during the second quarter. Sei Investments Co. now owns 22,341 shares of the company's stock worth $1,195,000 after buying an additional 3,141 shares in the last quarter. Finally, Ensign Peak Advisors Inc boosted its stake in DocuSign by 15.8% during the second quarter. Ensign Peak Advisors Inc now owns 134,837 shares of the company's stock worth $7,214,000 after buying an additional 18,415 shares during the last quarter. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other DocuSign news, Director Peter Solvik sold 10,000 shares of the business's stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $91.26, for a total value of $912,600.00. Following the completion of the sale, the director now owns 150,253 shares in the company, valued at approximately $13,712,088.78. The trade was a 6.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Allan C. Thygesen sold 7,763 shares of DocuSign stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $80.54, for a total transaction of $625,232.02. Following the completion of the transaction, the chief executive officer now directly owns 100,062 shares in the company, valued at $8,058,993.48. The trade was a 7.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 693,537 shares of company stock worth $66,575,817 over the last 90 days. 1.66% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on DOCU. Robert W. Baird raised their target price on DocuSign from $59.00 to $100.00 and gave the stock a "neutral" rating in a research note on Friday, December 6th. Morgan Stanley lifted their target price on shares of DocuSign from $62.00 to $97.00 and gave the stock an "equal weight" rating in a research note on Friday, December 6th. HSBC reissued a "reduce" rating on shares of DocuSign in a research note on Friday, December 6th. UBS Group lifted their price target on shares of DocuSign from $60.00 to $100.00 and gave the company a "neutral" rating in a research report on Friday, December 6th. Finally, Piper Sandler increased their price objective on DocuSign from $60.00 to $90.00 and gave the stock a "neutral" 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 stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $92.45.

DocuSign Price Performance

Shares of DOCU stock traded up $1.76 during trading hours on Tuesday, reaching $91.36. 1,892,032 shares of the stock were exchanged, compared to its average volume of 2,123,918. DocuSign, Inc. has a 12-month low of $48.70 and a 12-month high of $107.86. The business's fifty day moving average is $88.93 and its two-hundred day moving average is $70.63. The firm has a market capitalization of $18.46 billion, a P/E ratio of 18.84, a P/E/G ratio of 8.10 and a beta of 0.88.

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.