DocuSign, Inc. (NASDAQ:DOCU - Get Free Report) insider Robert Chatwani sold 14,800 shares of DocuSign stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $97.76, for a total transaction of $1,446,848.00. Following the transaction, the insider now directly owns 73,414 shares in the company, valued at $7,176,952.64. This represents a 16.78 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
DocuSign Stock Down 5.6 %
DocuSign stock traded down $5.46 during mid-day trading on Wednesday, reaching $92.71. 5,850,144 shares of the company's stock traded hands, compared to its average volume of 3,008,476. DocuSign, Inc. has a 12-month low of $48.70 and a 12-month high of $107.86. The company has a market cap of $18.73 billion, a price-to-earnings ratio of 19.12, a PEG ratio of 8.72 and a beta of 0.92. The stock has a 50 day moving average of $79.37 and a two-hundred day moving average of $64.02.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the business. J.W. Cole Advisors Inc. raised its position in DocuSign by 2.0% during the third quarter. J.W. Cole Advisors Inc. now owns 7,946 shares of the company's stock valued at $493,000 after purchasing an additional 155 shares during the period. Resonant Capital Advisors LLC increased its position in shares of DocuSign by 0.9% during the 3rd quarter. Resonant Capital Advisors LLC now owns 17,516 shares of the company's stock valued at $1,088,000 after purchasing an additional 157 shares during the last quarter. Optimist Retirement Group LLC increased its position in shares of DocuSign by 3.8% during the 3rd 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 last quarter. V Square Quantitative Management LLC lifted its position in DocuSign by 6.0% in the third quarter. V Square Quantitative Management LLC now owns 3,019 shares of the company's stock worth $187,000 after buying an additional 172 shares during the last quarter. Finally, Covestor Ltd boosted its stake in DocuSign by 5.8% during the third quarter. Covestor Ltd now owns 3,306 shares of the company's stock worth $205,000 after buying an additional 182 shares during the period. Institutional investors own 77.64% of the company's stock.
Analyst Ratings Changes
A number of research firms recently weighed in on DOCU. Royal Bank of Canada restated a "sector perform" rating and set a $90.00 target price (up previously from $57.00) on shares of DocuSign in a research note on Friday, December 6th. JMP Securities upped their price objective on DocuSign from $108.00 to $124.00 and gave the stock a "market outperform" rating in a research note on Friday, December 6th. UBS Group lifted their target price on DocuSign from $60.00 to $100.00 and gave the company a "neutral" rating in a research note on Friday, December 6th. Bank of America upped their price target on DocuSign from $60.00 to $68.00 and gave the stock a "neutral" rating in a research note on Friday, September 6th. Finally, Morgan Stanley boosted their target price on shares of DocuSign from $62.00 to $97.00 and gave the stock an "equal weight" rating in a report on Friday, December 6th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $92.45.
View Our Latest Stock Analysis on DocuSign
About DocuSign
(
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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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