Robert Chatwani Sells 14,799 Shares of DocuSign, Inc. (NASDAQ:DOCU) Stock

DocuSign, Inc. (NASDAQ:DOCU) insider Robert Chatwani sold 14,799 shares of the business’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $52.17, for a total value of $772,063.83. Following the completion of the sale, the insider now directly owns 68,083 shares of the company’s stock, valued at approximately $3,551,890.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

DocuSign Stock Performance

NASDAQ DOCU opened at $51.54 on Wednesday. DocuSign, Inc. has a twelve month low of $38.11 and a twelve month high of $64.76. The stock has a market cap of $10.55 billion, a PE ratio of 99.12, a PEG ratio of 4.41 and a beta of 0.89. The firm has a 50-day simple moving average of $55.91 and a 200 day simple moving average of $56.83.

Institutional Trading of DocuSign

A number of hedge funds have recently modified their holdings of the company. Capital Analysts LLC lifted its position in DocuSign by 781.7% in the fourth quarter. Capital Analysts LLC now owns 529 shares of the company’s stock worth $31,000 after purchasing an additional 469 shares during the period. McGlone Suttner Wealth Management Inc. acquired a new position in shares of DocuSign in the 4th quarter valued at $32,000. Register Financial Advisors LLC bought a new position in shares of DocuSign during the 1st quarter worth about $37,000. ICA Group Wealth Management LLC acquired a new stake in shares of DocuSign during the 4th quarter valued at about $39,000. Finally, Whittier Trust Co. increased its stake in DocuSign by 28.8% in the fourth quarter. Whittier Trust Co. now owns 935 shares of the company’s stock valued at $56,000 after acquiring an additional 209 shares during the period. Institutional investors own 77.64% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on DOCU. Robert W. Baird reduced their target price on DocuSign from $65.00 to $55.00 and set a “neutral” rating for the company in a report on Friday, June 7th. Bank of America decreased their price objective on shares of DocuSign from $72.00 to $60.00 and set a “neutral” rating for the company in a report on Friday, June 7th. Citigroup dropped their target price on shares of DocuSign from $93.00 to $86.00 and set a “buy” rating on the stock in a report on Wednesday, June 5th. Morgan Stanley decreased their price target on shares of DocuSign from $65.00 to $62.00 and set an “equal weight” rating for the company in a report on Friday, June 7th. Finally, UBS Group upgraded DocuSign from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $48.00 to $62.00 in a research note on Friday, April 12th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, DocuSign presently has an average rating of “Hold” and a consensus price target of $59.36.

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.