Insider Selling: DocuSign, Inc. (NASDAQ:DOCU) Director Sells 581,588 Shares of Stock

DocuSign, Inc. (NASDAQ:DOCU) Director Daniel D. Springer sold 581,588 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $97.04, for a total value of $56,437,299.52. Following the completion of the sale, the director now directly owns 906,430 shares of the company’s stock, valued at $87,959,967.20. The trade was a 39.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

DocuSign Stock Down 0.2 %

NASDAQ:DOCU opened at $94.52 on Friday. The firm has a market capitalization of $19.19 billion, a PE ratio of 19.53, a price-to-earnings-growth ratio of 11.08 and a beta of 0.92. The firm has a 50-day moving average price of $76.80 and a 200 day moving average price of $62.86. DocuSign, Inc. has a 12-month low of $48.70 and a 12-month high of $107.86.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Itau Unibanco Holding S.A. acquired a new stake in shares of DocuSign during the third quarter worth about $28,000. Brooklyn Investment Group bought a new position in shares of DocuSign in the third quarter valued at about $33,000. Reston Wealth Management LLC acquired a new stake in DocuSign during the third quarter worth approximately $47,000. nVerses Capital LLC acquired a new position in DocuSign in the 2nd quarter valued at $48,000. Finally, Wilmington Savings Fund Society FSB bought a new position in DocuSign during the third quarter worth about $51,000. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

DOCU has been the topic of a number of analyst reports. Wells Fargo & Company raised their target price on DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a research report on Friday, December 6th. Morgan Stanley lifted their price objective on DocuSign from $62.00 to $97.00 and gave the company an “equal weight” rating in a research note on Friday, December 6th. Royal Bank of Canada reissued a “sector perform” rating and issued a $90.00 target price (up from $57.00) on shares of DocuSign in a report on Friday, December 6th. Citigroup increased their target price on DocuSign from $87.00 to $113.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Finally, Robert W. Baird increased their target price on DocuSign from $59.00 to $100.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $92.45.

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.