DocuSign, Inc. (NASDAQ:DOCU) Insider Sells $772,063.83 in Stock

DocuSign, Inc. (NASDAQ:DOCU) insider Robert Chatwani sold 14,799 shares of the stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $52.17, for a total transaction of $772,063.83. Following the transaction, the insider now directly owns 68,083 shares of the company’s stock, valued at $3,551,890.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

DocuSign Price Performance

Shares of NASDAQ DOCU opened at $51.62 on Thursday. The firm’s 50-day moving average is $55.91 and its two-hundred day moving average is $56.83. The company has a market capitalization of $10.57 billion, a PE ratio of 99.27, a price-to-earnings-growth ratio of 4.31 and a beta of 0.89. DocuSign, Inc. has a 12-month low of $38.11 and a 12-month high of $64.76.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on DOCU. Morgan Stanley cut their target price on DocuSign from $65.00 to $62.00 and set an “equal weight” rating for the company in a research note on Friday, June 7th. JMP Securities reissued a “market outperform” rating and issued a $84.00 target price on shares of DocuSign in a report on Friday, June 7th. UBS Group upgraded shares of DocuSign from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $48.00 to $62.00 in a research report on Friday, April 12th. Royal Bank of Canada cut their price target on shares of DocuSign from $59.00 to $52.00 and set a “sector perform” rating for the company in a report on Friday, June 7th. Finally, Citigroup decreased their price objective on shares of DocuSign from $93.00 to $86.00 and set a “buy” rating on the stock in a report on Wednesday, June 5th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, DocuSign currently has an average rating of “Hold” and a consensus target price of $59.36.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of DOCU. Invesco Ltd. lifted its position in shares of DocuSign by 6.4% in the third quarter. Invesco Ltd. now owns 446,789 shares of the company’s stock valued at $18,765,000 after acquiring an additional 26,721 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in DocuSign by 911.4% in the 3rd quarter. Acadian Asset Management LLC now owns 56,923 shares of the company’s stock valued at $2,386,000 after purchasing an additional 51,295 shares in the last quarter. Dark Forest Capital Management LP acquired a new stake in shares of DocuSign during the 3rd quarter worth about $931,000. LPL Financial LLC grew its holdings in shares of DocuSign by 2.1% during the third quarter. LPL Financial LLC now owns 211,200 shares of the company’s stock worth $8,870,000 after buying an additional 4,262 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC raised its position in shares of DocuSign by 26.0% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 2,810 shares of the company’s stock valued at $118,000 after buying an additional 580 shares during the last quarter. 77.64% of the stock is currently owned by institutional investors and hedge funds.

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.