Miracle Mile Advisors LLC Buys 165 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Miracle Mile Advisors LLC increased its stake in DocuSign, Inc. (NASDAQ:DOCU) by 5.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,026 shares of the company’s stock after acquiring an additional 165 shares during the period. Miracle Mile Advisors LLC’s holdings in DocuSign were worth $246,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Gilman Hill Asset Management LLC lifted its position in DocuSign by 4.9% in the first quarter. Gilman Hill Asset Management LLC now owns 84,326 shares of the company’s stock valued at $6,864,000 after purchasing an additional 3,904 shares during the last quarter. Rhumbline Advisers increased its stake in shares of DocuSign by 118.8% in the fourth quarter. Rhumbline Advisers now owns 608,123 shares of the company’s stock worth $54,695,000 after buying an additional 330,136 shares during the period. Principal Financial Group Inc. raised its holdings in DocuSign by 3,026.7% during the 4th quarter. Principal Financial Group Inc. now owns 546,796 shares of the company’s stock valued at $49,179,000 after buying an additional 529,308 shares during the last quarter. Amundi raised its holdings in DocuSign by 565.8% during the 4th quarter. Amundi now owns 1,379,575 shares of the company’s stock valued at $123,486,000 after buying an additional 1,172,368 shares during the last quarter. Finally, SBI Securities Co. Ltd. purchased a new stake in DocuSign during the 4th quarter valued at $882,000. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

DOCU has been the topic of a number of analyst reports. Jefferies Financial Group decreased their price objective on shares of DocuSign from $115.00 to $105.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. Wedbush reduced their price target on DocuSign from $100.00 to $85.00 and set a “neutral” rating on the stock in a report on Friday, June 6th. Robert W. Baird dropped their price objective on DocuSign from $93.00 to $85.00 and set a “neutral” rating for the company in a report on Friday, June 6th. Morgan Stanley cut their price objective on DocuSign from $92.00 to $86.00 and set an “equal weight” rating on the stock in a research report on Friday, June 6th. Finally, JMP Securities restated a “market outperform” rating and set a $124.00 target price on shares of DocuSign in a report on Tuesday, June 3rd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $88.77.

Insider Buying and Selling

In other DocuSign news, Director Teresa Briggs sold 534 shares of the business’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $87.41, for a total value of $46,676.94. Following the sale, the director now directly owns 8,270 shares of the company’s stock, valued at approximately $722,880.70. The trade was a 6.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider James P. Shaughnessy sold 7,500 shares of the firm’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $81.31, for a total value of $609,825.00. Following the transaction, the insider now owns 45,875 shares of the company’s stock, valued at $3,730,096.25. The trade was a 14.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 47,851 shares of company stock worth $3,912,239 in the last 90 days. Insiders own 1.01% of the company’s stock.

DocuSign Trading Down 1.0%

Shares of DOCU stock opened at $76.24 on Thursday. The company’s fifty day moving average price is $82.06 and its 200-day moving average price is $86.15. The stock has a market cap of $15.44 billion, a PE ratio of 15.72, a price-to-earnings-growth ratio of 6.94 and a beta of 1.14. DocuSign, Inc. has a 12 month low of $48.80 and a 12 month high of $107.86.

DocuSign (NASDAQ:DOCU) last issued its quarterly earnings results on Thursday, June 5th. The company reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.09. The company had revenue of $763.65 million during the quarter, compared to analysts’ expectations of $748.79 million. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. DocuSign’s revenue was up 7.6% on a year-over-year basis. During the same period last year, the company posted $0.82 EPS. On average, sell-side analysts forecast that DocuSign, Inc. will post 1.17 earnings per share for the current fiscal year.

DocuSign declared that its Board of Directors has initiated a stock repurchase program on Thursday, June 5th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 6.6% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

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.