Docusign (NASDAQ:DOCU) Insider Sells $804,360.00 in Stock

Docusign Inc. (NASDAQ:DOCU) insider James Shaughnessy sold 12,000 shares of Docusign stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $67.03, for a total transaction of $804,360.00. Following the transaction, the insider directly owned 54,550 shares in the company, valued at $3,656,486.50. This represents a 18.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Docusign Trading Up 1.3%

Shares of DOCU traded up $0.85 during trading hours on Tuesday, reaching $65.19. 3,173,913 shares of the stock traded hands, compared to its average volume of 3,258,453. The stock has a fifty day simple moving average of $68.54 and a 200 day simple moving average of $73.02. Docusign Inc. has a 52 week low of $63.41 and a 52 week high of $99.30. The company has a market cap of $13.06 billion, a price-to-earnings ratio of 45.59, a PEG ratio of 3.20 and a beta of 0.99.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in DOCU. Twin Peaks Wealth Advisors LLC purchased a new stake in Docusign in the 2nd quarter worth about $43,000. SJS Investment Consulting Inc. lifted its holdings in Docusign by 5,318.2% during the third quarter. SJS Investment Consulting Inc. now owns 596 shares of the company’s stock valued at $43,000 after purchasing an additional 585 shares during the last quarter. CX Institutional boosted its position in Docusign by 5,860.0% during the third quarter. CX Institutional now owns 596 shares of the company’s stock worth $43,000 after purchasing an additional 586 shares during the period. MassMutual Private Wealth & Trust FSB increased its stake in shares of Docusign by 31.3% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 595 shares of the company’s stock worth $46,000 after purchasing an additional 142 shares in the last quarter. Finally, First Horizon Advisors Inc. raised its position in shares of Docusign by 48.6% in the second quarter. First Horizon Advisors Inc. now owns 590 shares of the company’s stock valued at $46,000 after purchasing an additional 193 shares during the period. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Piper Sandler reduced their target price on Docusign from $90.00 to $75.00 and set a “neutral” rating for the company in a report on Friday, December 5th. Argus reissued a “hold” rating on shares of Docusign in a research report on Monday, September 8th. Zacks Research downgraded Docusign from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 24th. Robert W. Baird lowered their target price on Docusign from $90.00 to $75.00 and set a “neutral” rating on the stock in a research note on Friday, December 5th. Finally, Morgan Stanley boosted their price target on shares of Docusign from $86.00 to $90.00 and gave the stock an “equal weight” rating in a report on Monday, September 8th. Six equities research analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Docusign has an average rating of “Hold” and a consensus target price of $85.13.

About Docusign

DocuSign, Inc (NASDAQ: DOCU) is a leading provider of electronic signature and digital transaction management solutions. The company’s flagship offering, DocuSign eSignature, enables organizations to send, sign and manage legally binding electronic agreements securely in the cloud. Beyond eSignature, DocuSign’s Agreement Cloud combines contract lifecycle management, document generation, and workflow automation to streamline agreement processes from initiation through execution and storage.

DocuSign’s platform serves a diverse customer base spanning industries such as finance, real estate, healthcare, technology, and government.