Miracle Mile Advisors LLC Takes $257,000 Position in DocuSign, Inc. (NASDAQ:DOCU)

Miracle Mile Advisors LLC bought a new position in DocuSign, Inc. (NASDAQ:DOCU) during the fourth 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.

Other institutional investors and hedge funds also recently modified their holdings of the company. Toronto Dominion Bank grew its position in DocuSign by 30.3% during the 3rd quarter. Toronto Dominion Bank now owns 26,159 shares of the company’s stock worth $1,624,000 after purchasing an additional 6,081 shares in the last quarter. Inspire Investing LLC purchased a new position in shares of DocuSign during the third quarter valued at $911,000. Charles Schwab Investment Management Inc. grew its holdings in shares of DocuSign by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,328,355 shares of the company’s stock valued at $82,478,000 after buying an additional 16,014 shares in the last quarter. International Assets Investment Management LLC raised its position in DocuSign by 5,660.8% during the third quarter. International Assets Investment Management LLC now owns 438,914 shares of the company’s stock valued at $27,252,000 after buying an additional 431,295 shares during the period. Finally, Quantinno Capital Management LP lifted its stake in DocuSign by 39.5% in the 3rd quarter. Quantinno Capital Management LP now owns 201,546 shares of the company’s stock worth $12,514,000 after acquiring an additional 57,104 shares in the last quarter. 77.64% of the stock is owned by institutional investors and hedge funds.

DocuSign Price Performance

Shares of NASDAQ:DOCU opened at $91.16 on Friday. The stock has a market capitalization of $18.42 billion, a P/E ratio of 18.80, a P/E/G ratio of 8.17 and a beta of 0.88. The business has a 50-day moving average of $88.26 and a two-hundred day moving average of $69.77. DocuSign, Inc. has a fifty-two week low of $48.70 and a fifty-two week high of $107.86.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Royal Bank of Canada reiterated a “sector perform” rating and issued a $90.00 target price (up previously from $57.00) on shares of DocuSign in a report on Friday, December 6th. Wells Fargo & Company upped their price objective on shares of DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a research note on Friday, December 6th. Robert W. Baird lifted their target price on shares of DocuSign from $59.00 to $100.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Jefferies Financial Group upped their price target on shares of DocuSign from $80.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Finally, Piper Sandler increased their price objective on DocuSign from $60.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. Based on 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 related news, 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 value of $625,232.02. Following the transaction, the chief executive officer now owns 100,062 shares in the company, valued at $8,058,993.48. This trade represents a 7.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Peter Solvik sold 10,000 shares of the business’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $91.26, for a total transaction of $912,600.00. Following the transaction, the director now directly owns 150,253 shares of the company’s stock, valued at approximately $13,712,088.78. This represents a 6.24 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 693,537 shares of company stock worth $66,575,817. 1.66% of the stock is currently owned by insiders.

About DocuSign

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.