Daniel D. Springer Sells 581,588 Shares of DocuSign, Inc. (NASDAQ:DOCU) Stock

DocuSign, Inc. (NASDAQ:DOCU) Director Daniel D. Springer sold 581,588 shares of the business’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $97.04, for a total value of $56,437,299.52. Following the completion of the transaction, the director now directly owns 906,430 shares of the company’s stock, valued at approximately $87,959,967.20. This trade represents a 39.08 % 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 Stock Down 0.0 %

Shares of DOCU opened at $94.48 on Friday. The firm has a market cap of $19.09 billion, a price-to-earnings ratio of 19.48, a PEG ratio of 8.72 and a beta of 0.92. The business’s 50 day moving average is $77.43 and its two-hundred day moving average is $63.08. DocuSign, Inc. has a 52-week low of $48.70 and a 52-week high of $107.86.

Wall Street Analysts Forecast Growth

DOCU has been the topic of several analyst reports. JMP Securities raised their price target on shares of DocuSign from $108.00 to $124.00 and gave the stock a “market outperform” rating in a research note on Friday, December 6th. HSBC reissued a “reduce” rating on shares of DocuSign in a research note on Friday, December 6th. Morgan Stanley raised their price target on DocuSign from $62.00 to $97.00 and gave the stock an “equal weight” rating in a research note on Friday, December 6th. Robert W. Baird raised their target price on shares of DocuSign from $59.00 to $100.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Finally, Piper Sandler upped their price objective on DocuSign from $60.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $92.45.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Itau Unibanco Holding S.A. bought a new position in shares of DocuSign during the third quarter worth about $28,000. Brooklyn Investment Group acquired a new position in shares of DocuSign in the 3rd quarter worth approximately $33,000. Reston Wealth Management LLC bought a new stake in shares of DocuSign in the 3rd quarter valued at approximately $47,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of DocuSign during the 3rd quarter valued at approximately $51,000. Finally, nVerses Capital LLC bought a new position in DocuSign during the second quarter worth $48,000. 77.64% of the stock is currently owned by institutional investors.

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.