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 company’s stock in a transaction that occurred 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 sale, the director now owns 906,430 shares of the company’s stock, valued at $87,959,967.20. This trade represents a 39.08 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

DocuSign Stock Down 0.2 %

DOCU stock opened at $94.52 on Friday. The business has a 50 day moving average price of $76.80 and a two-hundred day moving average price of $62.86. DocuSign, Inc. has a twelve month low of $48.70 and a twelve month high of $107.86. The company has a market cap of $19.19 billion, a price-to-earnings ratio of 19.53, a P/E/G ratio of 11.08 and a beta of 0.92.

Analyst Ratings Changes

DOCU has been the subject of several recent analyst reports. Wells Fargo & Company raised their price objective on shares of DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a research note on Friday, December 6th. Bank of America upped their target price on shares of DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Robert W. Baird upped their price objective on DocuSign from $59.00 to $100.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. HSBC reiterated a “reduce” rating on shares of DocuSign in a research report on Friday, December 6th. Finally, Citigroup raised their target price on shares of DocuSign from $87.00 to $113.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Three research 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. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $92.45.

Hedge Funds Weigh In On DocuSign

A number of institutional investors have recently modified their holdings of the business. State Street Corp increased its holdings in DocuSign by 2.3% in the third quarter. State Street Corp now owns 5,372,939 shares of the company’s stock worth $333,604,000 after purchasing an additional 120,743 shares in the last quarter. American Century Companies Inc. grew its stake in shares of DocuSign by 1.9% in the second quarter. American Century Companies Inc. now owns 4,099,400 shares of the company’s stock worth $219,318,000 after purchasing an additional 75,026 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of DocuSign by 18.3% in the 2nd quarter. Renaissance Technologies LLC now owns 3,729,314 shares of the company’s stock worth $199,518,000 after acquiring an additional 576,414 shares in the last quarter. Pacer Advisors Inc. boosted its stake in DocuSign by 77.9% in the 2nd quarter. Pacer Advisors Inc. now owns 3,519,969 shares of the company’s stock worth $188,318,000 after purchasing an additional 1,541,816 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of DocuSign by 1.6% in the third quarter. Geode Capital Management LLC now owns 3,483,184 shares of the company’s stock worth $215,789,000 after acquiring an additional 53,554 shares during the period. Institutional investors and hedge funds own 77.64% of the company’s stock.

DocuSign Company Profile

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.