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

DocuSign, Inc. (NASDAQ:DOCUGet Free Report) insider Robert Chatwani sold 14,799 shares of DocuSign stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $52.17, for a total transaction of $772,063.83. Following the transaction, the insider now directly owns 68,083 shares of the company’s stock, valued at $3,551,890.11. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

DocuSign Stock Performance

DOCU stock traded down $1.05 during mid-day trading on Monday, reaching $51.69. 2,024,264 shares of the stock traded hands, compared to its average volume of 3,013,638. DocuSign, Inc. has a one year low of $38.11 and a one year high of $64.76. The stock has a market capitalization of $10.58 billion, a PE ratio of 99.77, a PEG ratio of 4.36 and a beta of 0.89. The business has a 50-day moving average price of $56.14 and a two-hundred day moving average price of $56.79.

Analysts Set New Price Targets

A number of research firms have weighed in on DOCU. Bank of America reduced their price objective on shares of DocuSign from $72.00 to $60.00 and set a “neutral” rating for the company in a research note on Friday, June 7th. Morgan Stanley cut their target price on shares of DocuSign from $65.00 to $62.00 and set an “equal weight” rating for the company in a research report on Friday, June 7th. JMP Securities reaffirmed a “market outperform” rating and set a $84.00 price target on shares of DocuSign in a report on Friday, June 7th. Citigroup lowered their price target on shares of DocuSign from $93.00 to $86.00 and set a “buy” rating on the stock in a report on Wednesday, June 5th. Finally, Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a report on Friday, June 7th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $59.36.

Get Our Latest Stock Analysis on DocuSign

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in DocuSign by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 21,399,739 shares of the company’s stock valued at $1,272,214,000 after acquiring an additional 417,352 shares during the last quarter. Coatue Management LLC bought a new position in shares of DocuSign in the fourth quarter worth about $288,274,000. Jericho Capital Asset Management L.P. grew its holdings in shares of DocuSign by 316.6% in the first quarter. Jericho Capital Asset Management L.P. now owns 3,417,908 shares of the company’s stock worth $203,536,000 after purchasing an additional 2,597,489 shares during the last quarter. Clearbridge Investments LLC grew its holdings in shares of DocuSign by 6.1% in the first quarter. Clearbridge Investments LLC now owns 2,805,226 shares of the company’s stock worth $167,051,000 after purchasing an additional 161,762 shares during the last quarter. Finally, Norges Bank bought a new position in shares of DocuSign in the fourth quarter worth about $133,826,000. Institutional investors own 77.64% of the company’s stock.

About DocuSign

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for DocuSign (NASDAQ:DOCU)

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