Insider Selling: Docusign (NASDAQ:DOCU) Insider Sells 13,818 Shares of Stock

Docusign Inc. (NASDAQ:DOCU) insider Robert Chatwani sold 13,818 shares of the stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $68.33, for a total value of $944,183.94. Following the sale, the insider directly owned 70,197 shares in the company, valued at $4,796,561.01. This represents a 16.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Robert Chatwani also recently made the following trade(s):

• On Monday, December 15th, Robert Chatwani sold 1,683 shares of Docusign stock. The shares were sold at an average price of $70.87, for a total value of $119,274.21.
• On Thursday, December 11th, Robert Chatwani sold 983 shares of Docusign stock. The shares were sold at an average price of $68.62, for a total transaction of $67,453.46.

Docusign Trading Up 0.3%

Shares of Docusign stock traded up $0.21 during trading hours on Wednesday, reaching $67.79. The stock had a trading volume of 2,888,432 shares, compared to its average volume of 2,759,651. The firm has a market capitalization of $13.58 billion, a PE ratio of 47.41, a PEG ratio of 3.42 and a beta of 0.98. Docusign Inc. has a twelve month low of $63.41 and a twelve month high of $99.71. The stock’s 50 day moving average is $68.97 and its 200 day moving average is $74.21.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Wells Fargo & Company decreased their target price on Docusign from $85.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Friday, December 5th. Cantor Fitzgerald reissued an “outperform” rating on shares of Docusign in a research note on Wednesday. UBS Group dropped their price target on shares of Docusign from $85.00 to $75.00 and set a “neutral” rating for the company in a research note on Friday, December 5th. Needham & Company LLC reaffirmed a “hold” rating on shares of Docusign in a research report on Wednesday. Finally, Piper Sandler lowered their price target on Docusign from $90.00 to $75.00 and set a “neutral” rating for the company in a research report on Friday, December 5th. Six research analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the stock. According to data from MarketBeat, Docusign currently has an average rating of “Hold” and an average target price of $86.80.

Institutional Investors Weigh In On Docusign

Institutional investors have recently added to or reduced their stakes in the business. HighTower Advisors LLC boosted its holdings in shares of Docusign by 15.2% in the 1st quarter. HighTower Advisors LLC now owns 45,690 shares of the company’s stock valued at $3,719,000 after buying an additional 6,013 shares in the last quarter. Aberdeen Group plc raised its position in Docusign by 130.0% during the 1st quarter. Aberdeen Group plc now owns 108,969 shares of the company’s stock worth $8,870,000 after buying an additional 61,598 shares during the last quarter. Ethic Inc. increased its position in Docusign by 281.8% during the 1st quarter. Ethic Inc. now owns 14,485 shares of the company’s stock worth $1,198,000 after purchasing an additional 10,691 shares during the period. Raymond James Financial Inc. increased its holdings in shares of Docusign by 5.1% in the 1st quarter. Raymond James Financial Inc. now owns 449,139 shares of the company’s stock valued at $36,560,000 after purchasing an additional 21,640 shares in the last quarter. Finally, Corient IA LLC acquired a new position in Docusign during the first quarter worth $204,000. Hedge funds and other 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.