Insider Selling: DocuSign, Inc. (NASDAQ:DOCU) Insider Sells 14,799 Shares of Stock

DocuSign, Inc. (NASDAQ:DOCU) insider Robert Chatwani sold 14,799 shares of the business’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $52.17, for a total value of $772,063.83. Following the completion of the sale, the insider now directly owns 68,083 shares in the company, valued at approximately $3,551,890.11. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

DocuSign Stock Up 0.2 %

DOCU opened at $51.62 on Thursday. The firm has a market capitalization of $10.57 billion, a P/E ratio of 99.27, a PEG ratio of 4.31 and a beta of 0.89. The stock has a fifty day moving average of $55.91 and a 200-day moving average of $56.83. DocuSign, Inc. has a 12-month low of $38.11 and a 12-month high of $64.76.

Institutional Investors Weigh In On DocuSign

Several hedge funds have recently bought and sold shares of the business. Capital Analysts LLC grew its stake in DocuSign by 781.7% during the 4th quarter. Capital Analysts LLC now owns 529 shares of the company’s stock valued at $31,000 after acquiring an additional 469 shares in the last quarter. McGlone Suttner Wealth Management Inc. purchased a new position in DocuSign during the fourth quarter valued at approximately $32,000. Register Financial Advisors LLC acquired a new position in DocuSign in the 1st quarter valued at approximately $37,000. ICA Group Wealth Management LLC purchased a new stake in DocuSign in the 4th quarter worth approximately $39,000. Finally, Whittier Trust Co. boosted its stake in shares of DocuSign by 28.8% during the 4th quarter. Whittier Trust Co. now owns 935 shares of the company’s stock valued at $56,000 after buying an additional 209 shares during the period. 77.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

DOCU has been the topic of a number of research analyst reports. JMP Securities reaffirmed a “market outperform” rating and set 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 report on Friday, April 12th. Citigroup reduced their target price on shares of DocuSign from $93.00 to $86.00 and set a “buy” rating for the company in a report on Wednesday, June 5th. Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a report on Friday, June 7th. Finally, Bank of America reduced their price objective on DocuSign from $72.00 to $60.00 and set a “neutral” rating for the company in a research note on Friday, June 7th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, DocuSign has an average rating of “Hold” and a consensus price target of $59.36.

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.