DocuSign, Inc. (NASDAQ:DOCU) Director Sells $50,516.40 in Stock

DocuSign, Inc. (NASDAQ:DOCU - Get Free Report) Director Teresa Briggs sold 534 shares of the firm's stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $94.60, for a total value of $50,516.40. Following the transaction, the director now directly owns 7,736 shares of the company's stock, valued at approximately $731,825.60. This trade represents a 6.46 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

DocuSign Stock Up 0.3 %

Shares of DocuSign stock traded up $0.34 during trading hours on Tuesday, reaching $98.17. 3,797,399 shares of the stock traded hands, compared to its average volume of 2,996,714. DocuSign, Inc. has a one year low of $48.70 and a one year high of $107.86. The firm has a market capitalization of $19.83 billion, a price-to-earnings ratio of 20.24, a P/E/G ratio of 8.72 and a beta of 0.92. The company has a 50 day moving average price of $79.37 and a 200 day moving average price of $64.02.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Wells Fargo & Company increased their target price on DocuSign from $50.00 to $70.00 and gave the stock an "underweight" rating in a research note on Friday, December 6th. Piper Sandler raised their price objective on shares of DocuSign from $60.00 to $90.00 and gave the company a "neutral" rating in a research note on Friday, December 6th. Robert W. Baird upped their target price on shares of DocuSign from $59.00 to $100.00 and gave the stock a "neutral" rating in a research note on Friday, December 6th. Royal Bank of Canada reissued a "sector perform" rating and set a $90.00 price target (up previously from $57.00) on shares of DocuSign in a research report on Friday, December 6th. Finally, JPMorgan Chase & Co. upped their price objective on DocuSign from $50.00 to $70.00 and gave the company an "underweight" rating in a research report on Tuesday, December 3rd. Three equities research 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.com, the stock has a consensus rating of "Hold" and an average price target of $92.45.

Institutional Trading of DocuSign

Several large investors have recently added to or reduced their stakes in DOCU. Garden State Investment Advisory Services LLC purchased a new position in shares of DocuSign during the 3rd quarter worth $210,000. Franklin Resources Inc. raised its holdings in DocuSign by 12.1% in the 3rd quarter. Franklin Resources Inc. now owns 520,925 shares of the company's stock worth $35,870,000 after purchasing an additional 56,221 shares during the period. Tidal Investments LLC lifted its position in DocuSign by 62.8% during the third quarter. Tidal Investments LLC now owns 44,946 shares of the company's stock valued at $2,791,000 after purchasing an additional 17,339 shares in the last quarter. Optimist Retirement Group LLC grew its holdings in 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 purchasing an additional 161 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new stake in DocuSign in the third quarter worth about $51,000. 77.64% of the stock is currently owned by institutional investors.

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.

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