DocuSign (NASDAQ:DOCU) Trading 6.4% Higher - Here's What Happened

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

Analyst Ratings Changes

DOCU has been the topic of a number of recent analyst reports. Morgan Stanley lifted their price target on DocuSign from $62.00 to $97.00 and gave the stock an "equal weight" rating in a report on Friday, December 6th. Wells Fargo & Company raised their price objective on shares of DocuSign from $50.00 to $70.00 and gave the stock an "underweight" rating in a report on Friday, December 6th. JMP Securities reaffirmed a "market outperform" rating and issued a $124.00 price objective on shares of DocuSign in a research report on Tuesday, January 7th. HSBC reissued a "reduce" rating on shares of DocuSign in a research report on Friday, December 6th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and issued a $90.00 price objective (up previously from $57.00) on shares of DocuSign in a research note on Friday, December 6th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $92.45.

DocuSign Trading Down 0.2 %

The stock has a market capitalization of $19.50 billion, a P/E ratio of 19.90, a P/E/G ratio of 8.74 and a beta of 0.88. The company's fifty day simple moving average is $91.32 and its 200 day simple moving average is $73.08.

Insider Buying and Selling at DocuSign

In other DocuSign news, insider James P. Shaughnessy sold 7,500 shares of the business's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $90.17, for a total transaction of $676,275.00. Following the completion of the sale, the insider now directly owns 43,781 shares in the company, valued at approximately $3,947,732.77. The trade was a 14.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Teresa Briggs sold 534 shares of the company'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 transaction of $50,516.40. Following the sale, the director now directly owns 7,736 shares of the company's stock, valued at approximately $731,825.60. This represents a 6.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 685,773 shares of company stock valued at $66,032,726 in the last 90 days. Corporate insiders own 1.66% of the company's stock.

Institutional Investors Weigh In On DocuSign

Hedge funds have recently made changes to their positions in the company. State Street Corp boosted its position in DocuSign by 2.3% during the third quarter. State Street Corp now owns 5,372,939 shares of the company's stock valued at $333,604,000 after purchasing an additional 120,743 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of DocuSign by 1.6% in the third quarter. Geode Capital Management LLC now owns 3,483,184 shares of the company's stock worth $215,789,000 after buying an additional 53,554 shares during the last quarter. Thrivent Financial for Lutherans boosted its holdings in DocuSign by 5.2% during the third quarter. Thrivent Financial for Lutherans now owns 2,277,312 shares of the company's stock worth $141,398,000 after buying an additional 112,919 shares in the last quarter. FMR LLC grew its position in shares of DocuSign by 16.8% during the 3rd quarter. FMR LLC now owns 2,192,885 shares of the company's stock valued at $136,156,000 after acquiring an additional 315,073 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of DocuSign by 14.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,659,367 shares of the company's stock valued at $103,030,000 after buying an additional 208,813 shares in the last quarter. 77.64% of the stock is currently owned by hedge funds and other 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.