Teresa Briggs Sells 534 Shares of DocuSign, Inc. (NASDAQ:DOCU) Stock

DocuSign, Inc. (NASDAQ:DOCU) Director Teresa Briggs sold 534 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $94.60, for a total value of $50,516.40. Following the completion of the sale, the director now directly owns 7,736 shares of the company’s stock, valued at $731,825.60. This represents a 6.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

DocuSign Stock Down 5.6 %

Shares of NASDAQ:DOCU opened at $92.71 on Thursday. The company has a market capitalization of $18.73 billion, a P/E ratio of 19.12, a P/E/G ratio of 8.72 and a beta of 0.92. The stock’s fifty day simple moving average is $79.83 and its 200-day simple moving average is $64.22. DocuSign, Inc. has a 52-week low of $48.70 and a 52-week high of $107.86.

Analyst Ratings Changes

A number of equities research analysts have commented on DOCU shares. Wells Fargo & Company raised their target price on DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a report on Friday, December 6th. Piper Sandler increased their price target on shares of DocuSign from $60.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a report on Friday, December 6th. Citigroup increased their target price on shares of DocuSign from $87.00 to $113.00 and gave the company a “buy” rating in a report on Friday, December 6th. Finally, Jefferies Financial Group boosted their price target on DocuSign from $80.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, DocuSign has an average rating of “Hold” and a consensus target price of $92.45.

Institutional Investors Weigh In On DocuSign

Several hedge funds have recently modified their holdings of the company. Itau Unibanco Holding S.A. purchased a new position in shares of DocuSign during the third quarter valued at approximately $28,000. Brooklyn Investment Group purchased a new position in shares of DocuSign during the 3rd quarter worth $33,000. Reston Wealth Management LLC purchased a new position in shares of DocuSign during the 3rd quarter worth $47,000. nVerses Capital LLC acquired a new stake in shares of DocuSign during the second quarter worth $48,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of DocuSign in the third quarter valued at $51,000. 77.64% of the stock is owned by institutional investors and hedge funds.

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.