Docusign (NASDAQ:DOCU) Insider Robert Chatwani Sells 1,683 Shares

Docusign Inc. (NASDAQ:DOCU) insider Robert Chatwani sold 1,683 shares of Docusign stock in a transaction on Monday, December 15th. The stock was sold at an average price of $70.87, for a total transaction of $119,274.21. Following the sale, the insider owned 68,496 shares in the company, valued at $4,854,311.52. This represents a 2.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Robert Chatwani also recently made the following trade(s):

• On Wednesday, December 17th, Robert Chatwani sold 13,818 shares of Docusign stock. The shares were sold at an average price of $68.33, for a total transaction of $944,183.94.
• On Thursday, December 11th, Robert Chatwani sold 983 shares of Docusign stock. The stock was sold at an average price of $68.62, for a total value of $67,453.46.

Docusign Stock Performance

DOCU stock traded up $0.21 during midday trading on Wednesday, hitting $67.79. 2,888,432 shares of the company’s stock were exchanged, compared to its average volume of 2,759,651. The company has a market cap of $13.58 billion, a PE ratio of 47.41, a price-to-earnings-growth ratio of 3.42 and a beta of 0.98. Docusign Inc. has a one year low of $63.41 and a one year high of $99.71. The stock’s fifty day moving average price is $68.97 and its 200-day moving average price is $74.21.

Institutional Trading of Docusign

A number of hedge funds and other institutional investors have recently modified their holdings of DOCU. Norges Bank bought a new position in Docusign during the second quarter valued at $140,987,000. Wellington Management Group LLP lifted its stake in Docusign by 372.5% during the 1st quarter. Wellington Management Group LLP now owns 1,826,949 shares of the company’s stock valued at $148,714,000 after acquiring an additional 1,440,269 shares during the period. Duquesne Family Office LLC purchased a new position in Docusign in the first quarter valued at $87,477,000. Woodline Partners LP grew its position in shares of Docusign by 24,412.7% in the third quarter. Woodline Partners LP now owns 958,938 shares of the company’s stock valued at $69,130,000 after purchasing an additional 955,026 shares during the period. Finally, Third Point LLC acquired a new stake in Docusign in the 2nd quarter valued at about $48,681,000. 77.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Piper Sandler cut their price target on Docusign from $90.00 to $75.00 and set a “neutral” rating for the company in a research note on Friday, December 5th. Bank of America lowered their price objective on shares of Docusign from $102.00 to $82.00 and set a “neutral” rating for the company in a research note on Friday, December 5th. Needham & Company LLC restated a “hold” rating on shares of Docusign in a report on Wednesday. Wells Fargo & Company cut their price objective on Docusign from $85.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Friday, December 5th. Finally, Robert W. Baird dropped their price objective on shares of Docusign from $90.00 to $75.00 and set a “neutral” rating on the stock in a report on Friday, December 5th. Six research analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $86.80.

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.