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

DocuSign, Inc. (NASDAQ:DOCU) Director Teresa Briggs sold 534 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $94.60, for a total transaction of $50,516.40. Following the transaction, the director now owns 7,736 shares in the company, valued at approximately $731,825.60. This trade represents a 6.46 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

DocuSign Stock Performance

NASDAQ DOCU opened at $94.15 on Friday. The stock has a market cap of $19.02 billion, a price-to-earnings ratio of 19.41, a PEG ratio of 8.72 and a beta of 0.92. The business has a 50 day simple moving average of $80.33 and a 200 day simple moving average of $64.43. DocuSign, Inc. has a 52-week low of $48.70 and a 52-week high of $107.86.

Analyst Ratings Changes

DOCU has been the topic of several research reports. JPMorgan Chase & Co. upped their price target on shares of DocuSign from $50.00 to $70.00 and gave the stock an “underweight” rating in a research report on Tuesday, December 3rd. Morgan Stanley boosted their price objective on DocuSign from $62.00 to $97.00 and gave the stock an “equal weight” rating in a report on Friday, December 6th. JMP Securities boosted their price objective on DocuSign from $108.00 to $124.00 and gave the stock a “market outperform” rating in a report on Friday, December 6th. Citigroup boosted their price objective on DocuSign from $87.00 to $113.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Finally, HSBC reissued a “reduce” rating on shares of DocuSign in a report on Friday, December 6th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, DocuSign has an average rating of “Hold” and an average target price of $92.45.

Institutional Investors Weigh In On DocuSign

Several large investors have recently made changes to their positions in the stock. State Street Corp boosted its stake in DocuSign by 2.3% in the 3rd quarter. State Street Corp now owns 5,372,939 shares of the company’s stock worth $333,604,000 after purchasing an additional 120,743 shares during the period. American Century Companies Inc. boosted its position in shares of DocuSign by 1.9% during the second quarter. American Century Companies Inc. now owns 4,099,400 shares of the company’s stock worth $219,318,000 after buying an additional 75,026 shares during the period. Renaissance Technologies LLC grew its holdings in shares of DocuSign by 18.3% during the second quarter. Renaissance Technologies LLC now owns 3,729,314 shares of the company’s stock worth $199,518,000 after buying an additional 576,414 shares in the last quarter. Pacer Advisors Inc. raised its position in DocuSign by 77.9% in the 2nd quarter. Pacer Advisors Inc. now owns 3,519,969 shares of the company’s stock valued at $188,318,000 after buying an additional 1,541,816 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in DocuSign by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 3,483,184 shares of the company’s stock valued at $215,789,000 after acquiring an additional 53,554 shares in the last quarter. Institutional investors own 77.64% of the company’s stock.

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.