James P. Shaughnessy Sells 7,500 Shares of DocuSign, Inc. (NASDAQ:DOCU) Stock

DocuSign, Inc. (NASDAQ:DOCU) insider James P. Shaughnessy sold 7,500 shares of DocuSign stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $90.17, for a total value of $676,275.00. Following the completion of the sale, the insider now directly owns 43,781 shares of the company’s stock, valued at approximately $3,947,732.77. This trade represents a 14.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

DocuSign Price Performance

Shares of NASDAQ:DOCU opened at $90.21 on Friday. The company’s fifty day moving average price is $85.19 and its 200-day moving average price is $67.53. The firm has a market capitalization of $18.22 billion, a price-to-earnings ratio of 18.60, a PEG ratio of 8.72 and a beta of 0.92. DocuSign, Inc. has a one year low of $48.70 and a one year high of $107.86.

Analyst Ratings Changes

DOCU has been the subject of several recent research reports. Bank of America lifted their target price on shares of DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a report on Friday, December 6th. JMP Securities boosted their price objective on DocuSign from $108.00 to $124.00 and gave the company a “market outperform” rating in a research note on Friday, December 6th. Royal Bank of Canada restated a “sector perform” rating and issued a $90.00 target price (up previously from $57.00) on shares of DocuSign in a research note on Friday, December 6th. Finally, Wells Fargo & Company upped their price target on DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a research report on Friday, December 6th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $92.45.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. purchased a new position in shares of DocuSign in the 3rd quarter worth about $28,000. Brooklyn Investment Group bought a new stake in DocuSign in the 3rd quarter worth approximately $33,000. Modus Advisors LLC purchased a new stake in DocuSign in the fourth quarter worth approximately $36,000. Reston Wealth Management LLC bought a new position in DocuSign during the third quarter valued at approximately $47,000. Finally, nVerses Capital LLC purchased a new position in shares of DocuSign during the second quarter worth approximately $48,000. Institutional investors own 77.64% of the company’s stock.

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.