DocuSign (NASDAQ:DOCU) Stock Price Up 6.4% - Here's Why

DocuSign, Inc. (NASDAQ:DOCU - Get Free Report) shares shot up 6.4% during trading on Tuesday . The company traded as high as $96.90 and last traded at $98.21. 455,777 shares changed hands during trading, a decline of 77% from the average session volume of 1,968,344 shares. The stock had previously closed at $92.26.

Analysts Set New Price Targets

DOCU has been the subject of a number of research analyst reports. Wells Fargo & Company raised their price target on DocuSign from $50.00 to $70.00 and gave the stock an "underweight" rating in a research note on Friday, December 6th. Robert W. Baird lifted their target price on DocuSign from $59.00 to $100.00 and gave the stock a "neutral" rating in a research 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 stock a "buy" rating in a report on Tuesday, December 3rd. JPMorgan Chase & Co. lifted their price objective on shares of DocuSign from $50.00 to $70.00 and gave the company an "underweight" rating in a report on Tuesday, December 3rd. Finally, JMP Securities restated a "market outperform" rating and issued a $124.00 target price on shares of DocuSign in a research note on Tuesday, January 7th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $92.45.

DocuSign Stock Performance

The business has a 50 day moving average of $90.04 and a two-hundred day moving average of $71.96. The stock has a market capitalization of $19.77 billion, a PE ratio of 20.17, a PEG ratio of 8.30 and a beta of 0.88.

Insider Transactions at DocuSign

In other DocuSign news, Director Teresa Briggs sold 534 shares of the firm's stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $94.60, for a total value of $50,516.40. Following the completion of the sale, the director now owns 7,736 shares of the company's stock, valued at approximately $731,825.60. This trade represents a 6.46 % 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 the SEC website. Also, CEO Allan C. Thygesen sold 7,763 shares of the company's stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $80.54, for a total transaction of $625,232.02. Following the transaction, the chief executive officer now owns 100,062 shares in the company, valued at approximately $8,058,993.48. This trade represents a 7.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 693,537 shares of company stock valued at $66,575,817 in the last 90 days. Insiders own 1.66% of the company's stock.

Institutional Trading of DocuSign

A number of institutional investors have recently bought and sold shares of DOCU. Avior Wealth Management LLC raised its holdings in shares of DocuSign by 36.5% in the fourth quarter. Avior Wealth Management LLC now owns 542 shares of the company's stock worth $49,000 after buying an additional 145 shares during the last quarter. Linden Thomas Advisory Services LLC increased its position in shares of DocuSign by 1.1% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 13,540 shares of the company's stock valued at $1,218,000 after acquiring an additional 149 shares during the period. J.W. Cole Advisors Inc. raised its stake in DocuSign by 2.0% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 7,946 shares of the company's stock worth $493,000 after acquiring an additional 155 shares during the last quarter. Resonant Capital Advisors LLC lifted its position in DocuSign by 0.9% during the 3rd quarter. Resonant Capital Advisors LLC now owns 17,516 shares of the company's stock worth $1,088,000 after acquiring an additional 157 shares during the period. Finally, Optimist Retirement Group LLC lifted its position in DocuSign by 3.8% during the 3rd quarter. Optimist Retirement Group LLC now owns 4,416 shares of the company's stock worth $274,000 after acquiring an additional 161 shares during the period. 77.64% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.