DocuSign, Inc. (NASDAQ:DOCU) Director Peter Solvik Sells 10,000 Shares

DocuSign, Inc. (NASDAQ:DOCU) Director Peter Solvik sold 10,000 shares of DocuSign stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $91.26, for a total transaction of $912,600.00. Following the transaction, the director now owns 150,253 shares in the company, valued at approximately $13,712,088.78. The trade was a 6.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

DocuSign Price Performance

NASDAQ:DOCU traded down $0.40 during mid-day trading on Monday, reaching $90.02. The stock had a trading volume of 2,368,259 shares, compared to its average volume of 2,269,386. The business’s 50 day moving average is $87.59 and its 200 day moving average is $69.36. DocuSign, Inc. has a fifty-two week low of $48.70 and a fifty-two week high of $107.86. The stock has a market cap of $18.19 billion, a P/E ratio of 18.56, a PEG ratio of 8.70 and a beta of 0.88.

Hedge Funds Weigh In On DocuSign

Hedge funds have recently added to or reduced their stakes in the company. Private Advisor Group LLC grew its holdings in DocuSign by 10.3% during the second quarter. Private Advisor Group LLC now owns 29,999 shares of the company’s stock valued at $1,605,000 after purchasing an additional 2,802 shares during the last quarter. Choreo LLC bought a new stake in shares of DocuSign in the second quarter valued at approximately $242,000. Daiwa Securities Group Inc. boosted its position in shares of DocuSign by 4.5% in the second quarter. Daiwa Securities Group Inc. now owns 16,372 shares of the company’s stock valued at $876,000 after acquiring an additional 700 shares during the period. Oppenheimer & Co. Inc. boosted its position in shares of DocuSign by 25.1% in the second quarter. Oppenheimer & Co. Inc. now owns 28,606 shares of the company’s stock valued at $1,530,000 after acquiring an additional 5,735 shares during the period. Finally, DekaBank Deutsche Girozentrale boosted its position in shares of DocuSign by 58.6% in the second quarter. DekaBank Deutsche Girozentrale now owns 48,675 shares of the company’s stock valued at $2,555,000 after acquiring an additional 17,984 shares during the period. Institutional investors and hedge funds own 77.64% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Morgan Stanley lifted their price target on DocuSign from $62.00 to $97.00 and gave the company an “equal weight” rating in a report on Friday, December 6th. HSBC reiterated a “reduce” rating on shares of DocuSign in a report on Friday, December 6th. Piper Sandler raised their price target on shares of DocuSign from $60.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. JPMorgan Chase & Co. boosted their price objective on shares of DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a research report on Tuesday, December 3rd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a research report on Friday, December 6th. Three 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, DocuSign has a consensus rating of “Hold” and a consensus target price of $92.45.

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.