DocuSign, Inc. (NASDAQ:DOCU) Director Sells $56,437,299.52 in Stock

DocuSign, Inc. (NASDAQ:DOCU) Director Daniel D. Springer sold 581,588 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

DocuSign Stock Performance

Shares of NASDAQ DOCU opened at $94.48 on Friday. DocuSign, Inc. has a one year low of $48.70 and a one year high of $107.86. The firm has a market capitalization of $19.09 billion, a P/E ratio of 19.48, a PEG ratio of 8.72 and a beta of 0.92. The company’s fifty day moving average is $77.43 and its two-hundred day moving average is $63.08.

Institutional Trading of DocuSign

A number of institutional investors have recently added to or reduced their stakes in the stock. State Street Corp increased 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 valued at $333,604,000 after purchasing an additional 120,743 shares in the last quarter. American Century Companies Inc. increased its position in shares of DocuSign by 1.9% in the second quarter. American Century Companies Inc. now owns 4,099,400 shares of the company’s stock valued at $219,318,000 after buying an additional 75,026 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of DocuSign by 18.3% during the 2nd 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 during the last quarter. Pacer Advisors Inc. boosted its position in shares of DocuSign by 77.9% in the 2nd quarter. Pacer Advisors Inc. now owns 3,519,969 shares of the company’s stock worth $188,318,000 after buying an additional 1,541,816 shares in the last quarter. Finally, Geode Capital Management LLC grew 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 during the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. Piper Sandler upped their price target on shares of DocuSign from $60.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. UBS Group increased their target price on shares of DocuSign from $60.00 to $100.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Robert W. Baird upped their price objective on DocuSign from $59.00 to $100.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Hsbc Global Res upgraded DocuSign to a “moderate sell” rating in a research note on Friday, December 6th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $90.00 price target (up from $57.00) on shares of DocuSign in a report on Friday, December 6th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $92.45.

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.