Insider Selling: DocuSign, Inc. (NASDAQ:DOCU) Insider Sells 14,800 Shares of Stock

DocuSign, Inc. (NASDAQ:DOCU) insider Robert Chatwani sold 14,800 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $97.76, for a total value of $1,446,848.00. Following the completion of the sale, the insider now owns 73,414 shares in the company, valued at approximately $7,176,952.64. The trade was a 16.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

DocuSign Stock Down 5.6 %

Shares of NASDAQ DOCU traded down $5.46 during mid-day trading on Wednesday, reaching $92.71. 5,850,144 shares of the company were exchanged, compared to its average volume of 3,008,476. The firm has a 50-day moving average of $79.37 and a 200 day moving average of $64.02. DocuSign, Inc. has a 1 year low of $48.70 and a 1 year high of $107.86. The stock has a market cap of $18.73 billion, a price-to-earnings ratio of 19.12, a P/E/G ratio of 8.72 and a beta of 0.92.

Institutional Trading of DocuSign

A number of institutional investors have recently modified their holdings of the company. J.W. Cole Advisors Inc. raised its stake in shares of DocuSign by 2.0% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 7,946 shares of the company’s stock worth $493,000 after acquiring an additional 155 shares in the last quarter. Resonant Capital Advisors LLC increased its position in shares of DocuSign by 0.9% during the third quarter. Resonant Capital Advisors LLC now owns 17,516 shares of the company’s stock worth $1,088,000 after purchasing an additional 157 shares in the last quarter. Optimist Retirement Group LLC boosted its position in shares of DocuSign by 3.8% in the 3rd quarter. Optimist Retirement Group LLC now owns 4,416 shares of the company’s stock worth $274,000 after purchasing an additional 161 shares in the last quarter. V Square Quantitative Management LLC boosted its position in shares of DocuSign by 6.0% in the 3rd quarter. V Square Quantitative Management LLC now owns 3,019 shares of the company’s stock worth $187,000 after purchasing an additional 172 shares in the last quarter. Finally, Covestor Ltd grew its stake in DocuSign by 5.8% during the 3rd quarter. Covestor Ltd now owns 3,306 shares of the company’s stock worth $205,000 after buying an additional 182 shares during the last quarter. 77.64% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on DOCU. Hsbc Global Res upgraded DocuSign to a “moderate sell” rating in a research note on Friday, December 6th. Piper Sandler lifted their price objective on shares of DocuSign from $60.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a research note on Friday, December 6th. UBS Group lifted their price target on shares of DocuSign from $60.00 to $100.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Finally, Wells Fargo & Company increased their price objective on DocuSign from $50.00 to $70.00 and gave the stock an “underweight” rating in a research note on Friday, December 6th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $92.45.

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.