Insider Selling: DocuSign, Inc. (NASDAQ:DOCU) Director Sells 581,588 Shares of Stock

DocuSign, Inc. (NASDAQ:DOCU) Director Daniel D. Springer sold 581,588 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $97.04, for a total transaction of $56,437,299.52. Following the completion of the transaction, the director now directly owns 906,430 shares in the company, valued at $87,959,967.20. This represents a 39.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

DocuSign Stock Down 1.1 %

DocuSign stock traded down $1.10 during mid-day trading on Wednesday, hitting $94.75. The company’s stock had a trading volume of 4,025,055 shares, compared to its average volume of 2,988,853. The stock has a market capitalization of $19.23 billion, a P/E ratio of 19.54, a P/E/G ratio of 11.08 and a beta of 0.92. DocuSign, Inc. has a twelve month low of $48.70 and a twelve month high of $107.86. The stock’s fifty day moving average price is $76.80 and its two-hundred day moving average price is $62.86.

Hedge Funds Weigh In On DocuSign

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Inspire Investing LLC purchased a new position in DocuSign during the 3rd quarter worth approximately $911,000. Charles Schwab Investment Management Inc. grew its position in DocuSign by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,328,355 shares of the company’s stock worth $82,478,000 after purchasing an additional 16,014 shares in the last quarter. International Assets Investment Management LLC grew its position in DocuSign by 5,660.8% during the 3rd quarter. International Assets Investment Management LLC now owns 438,914 shares of the company’s stock worth $27,252,000 after purchasing an additional 431,295 shares in the last quarter. Quantinno Capital Management LP grew its position in DocuSign by 39.5% during the 3rd quarter. Quantinno Capital Management LP now owns 201,546 shares of the company’s stock worth $12,514,000 after purchasing an additional 57,104 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its position in DocuSign by 7.1% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,296,517 shares of the company’s stock worth $80,501,000 after purchasing an additional 85,987 shares in the last quarter. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DOCU has been the topic of a number of recent analyst reports. Hsbc Global Res raised DocuSign to a “moderate sell” rating in a report on Friday, December 6th. Robert W. Baird lifted their price target on DocuSign from $59.00 to $100.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Wells Fargo & Company lifted their price target on DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a report on Friday, December 6th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $90.00 price target (up previously from $57.00) on shares of DocuSign in a report on Friday, December 6th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign 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 issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $92.45.

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.