James P. Shaughnessy Sells 7,500 Shares of DocuSign, Inc. (NASDAQ:DOCU) Stock

DocuSign, Inc. (NASDAQ:DOCU) insider James P. Shaughnessy sold 7,500 shares of DocuSign stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $90.17, for a total value of $676,275.00. Following the sale, the insider now directly owns 43,781 shares in the company, valued at $3,947,732.77. The trade was a 14.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

DocuSign Price Performance

Shares of DOCU opened at $90.21 on Friday. DocuSign, Inc. has a one year low of $48.70 and a one year high of $107.86. The stock has a 50-day moving average of $85.19 and a 200-day moving average of $67.53. The company has a market cap of $18.22 billion, a PE ratio of 18.60, a P/E/G ratio of 8.72 and a beta of 0.92.

Wall Street Analyst Weigh In

Several research firms recently commented on DOCU. Hsbc Global Res upgraded shares of DocuSign to a “moderate sell” rating in a research report on Friday, December 6th. Wells Fargo & Company boosted their price objective on shares of DocuSign from $50.00 to $70.00 and gave the stock an “underweight” rating in a research note on Friday, December 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a research report on Friday, December 6th. Bank of America upped their price target on DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. Finally, Piper Sandler raised their price objective on DocuSign from $60.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $92.45.

Institutional Trading of DocuSign

A number of hedge funds and other institutional investors have recently bought and sold shares of DOCU. nVerses Capital LLC bought a new position in DocuSign during the 2nd quarter valued at $48,000. CIBC Asset Management Inc increased its holdings in DocuSign by 5.8% during the second quarter. CIBC Asset Management Inc now owns 6,921 shares of the company’s stock worth $370,000 after buying an additional 380 shares during the last quarter. Rhumbline Advisers boosted its stake in DocuSign by 1.0% in the second quarter. Rhumbline Advisers now owns 276,815 shares of the company’s stock valued at $14,810,000 after acquiring an additional 2,747 shares during the last quarter. Pzena Investment Management LLC grew its position in shares of DocuSign by 45.6% during the 2nd quarter. Pzena Investment Management LLC now owns 8,114 shares of the company’s stock valued at $434,000 after acquiring an additional 2,541 shares during the period. Finally, Cannon Global Investment Management LLC purchased a new stake in shares of DocuSign during the 2nd quarter worth approximately $765,000. 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.