Insider Selling: DocuSign, Inc. (NASDAQ:DOCU) Insider Sells $1,446,848.00 in Stock

DocuSign, Inc. (NASDAQ:DOCU) insider Robert Chatwani sold 14,800 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $97.76, for a total value of $1,446,848.00. Following the transaction, the insider now owns 73,414 shares of the company’s stock, valued at $7,176,952.64. This trade represents a 16.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

DocuSign Price Performance

Shares of DOCU opened at $94.41 on Friday. DocuSign, Inc. has a one year low of $48.70 and a one year high of $107.86. The company has a market cap of $19.07 billion, a PE ratio of 19.47, a P/E/G ratio of 8.72 and a beta of 0.92. The stock has a 50-day moving average of $80.84 and a 200-day moving average of $64.71.

Hedge Funds Weigh In On DocuSign

A number of institutional investors have recently modified their holdings of the company. Garden State Investment Advisory Services LLC acquired a new stake in DocuSign in the 3rd quarter valued at $210,000. Franklin Resources Inc. raised its holdings in DocuSign by 12.1% during the third quarter. Franklin Resources Inc. now owns 520,925 shares of the company’s stock worth $35,870,000 after buying an additional 56,221 shares during the last quarter. Tidal Investments LLC lifted its stake in shares of DocuSign by 62.8% in the third quarter. Tidal Investments LLC now owns 44,946 shares of the company’s stock valued at $2,791,000 after buying an additional 17,339 shares in the last quarter. Optimist Retirement Group LLC grew its holdings in shares of DocuSign by 3.8% during the third quarter. Optimist Retirement Group LLC now owns 4,416 shares of the company’s stock valued at $274,000 after buying an additional 161 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of DocuSign during the third quarter worth about $51,000. 77.64% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

DOCU has been the subject of a number of recent analyst reports. Morgan Stanley increased their target price on shares of DocuSign from $62.00 to $97.00 and gave the company an “equal weight” rating in a research report on Friday, December 6th. Citigroup increased their price objective on shares of DocuSign from $87.00 to $113.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Piper Sandler boosted their target price on shares of DocuSign from $60.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Jefferies Financial Group upped their price target on shares of DocuSign from $80.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Finally, Wells Fargo & Company lifted their price objective on DocuSign from $50.00 to $70.00 and gave the stock an “underweight” rating in a research report on Friday, December 6th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $92.45.

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.