DocuSign (NASDAQ:DOCU) Trading Up 6.4% – Here’s What Happened

DocuSign, Inc. (NASDAQ:DOCU)’s stock price was up 6.4% during trading on Tuesday . The stock traded as high as $96.90 and last traded at $98.21. Approximately 455,777 shares traded hands during mid-day 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

Several equities analysts recently issued reports on DOCU shares. UBS Group boosted their price target on shares of DocuSign from $60.00 to $100.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Royal Bank of Canada reissued a “sector perform” rating and issued a $90.00 target price (up previously from $57.00) on shares of DocuSign in a research report on Friday, December 6th. JPMorgan Chase & Co. lifted their price target on DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a research report on Tuesday, December 3rd. Robert W. Baird increased their price objective on DocuSign from $59.00 to $100.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Finally, JMP Securities reissued a “market outperform” rating and set a $124.00 price objective on shares of DocuSign in a research report on Tuesday, January 7th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $92.45.

DocuSign Stock Up 0.4 %

The firm’s fifty day simple moving average is $90.73 and its 200-day simple moving average is $72.41. The firm has a market capitalization of $19.36 billion, a PE ratio of 19.76, a PEG ratio of 8.30 and a beta of 0.88.

Insider Buying and Selling

In related news, insider Robert Chatwani sold 14,800 shares of DocuSign stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $97.76, for a total value of $1,446,848.00. Following the completion of the sale, the insider now owns 73,414 shares of the company’s stock, valued at $7,176,952.64. The trade was a 16.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Allan C. Thygesen sold 7,763 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $80.54, for a total value of $625,232.02. Following the completion of the transaction, the chief executive officer now directly owns 100,062 shares in the company, valued at approximately $8,058,993.48. This represents a 7.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 693,537 shares of company stock worth $66,575,817 in the last three months. Insiders own 1.66% of the company’s stock.

Hedge Funds Weigh In On DocuSign

Several institutional investors have recently made changes to their positions in DOCU. Avior Wealth Management LLC increased its stake in DocuSign by 36.5% during the fourth quarter. Avior Wealth Management LLC now owns 542 shares of the company’s stock worth $49,000 after acquiring an additional 145 shares during the last quarter. Linden Thomas Advisory Services LLC increased its position in shares of DocuSign by 1.1% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 13,540 shares of the company’s stock valued at $1,218,000 after purchasing an additional 149 shares during the last quarter. J.W. Cole Advisors Inc. raised its holdings in DocuSign by 2.0% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 7,946 shares of the company’s stock valued at $493,000 after buying an additional 155 shares during the period. Resonant Capital Advisors LLC lifted its position in DocuSign by 0.9% in the third quarter. Resonant Capital Advisors LLC now owns 17,516 shares of the company’s stock worth $1,088,000 after buying an additional 157 shares during the last quarter. Finally, Optimist Retirement Group LLC boosted its stake in DocuSign by 3.8% during the third quarter. Optimist Retirement Group LLC now owns 4,416 shares of the company’s stock worth $274,000 after buying an additional 161 shares during the period. 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.