Blake Jeffrey Grayson Sells 8,000 Shares of DocuSign, Inc. (NASDAQ:DOCU) Stock

DocuSign, Inc. (NASDAQ:DOCU) CFO Blake Jeffrey Grayson sold 8,000 shares of the company’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $86.90, for a total value of $695,200.00. Following the completion of the transaction, the chief financial officer now directly owns 77,851 shares in the company, valued at $6,765,251.90. This represents a 9.32 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Blake Jeffrey Grayson also recently made the following trade(s):

• On Wednesday, December 18th, Blake Jeffrey Grayson sold 15,588 shares of DocuSign stock. The stock was sold at an average price of $97.78, for a total value of $1,524,194.64.
• On Monday, December 16th, Blake Jeffrey Grayson sold 8,000 shares of DocuSign stock. The stock was sold at an average price of $94.77, for a total transaction of $758,160.00.

DocuSign Stock Performance

Shares of DOCU stock opened at $86.73 on Thursday. DocuSign, Inc. has a twelve month low of $48.70 and a twelve month high of $107.86. The company has a market capitalization of $17.52 billion, a price-to-earnings ratio of 17.88, a PEG ratio of 7.03 and a beta of 0.89. The stock’s 50 day simple moving average is $92.27 and its 200 day simple moving average is $76.12.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Toronto Dominion Bank boosted its holdings in DocuSign by 1.3% during the fourth quarter. Toronto Dominion Bank now owns 26,508 shares of the company’s stock valued at $2,384,000 after acquiring an additional 349 shares during the period. Vega Investment Solutions bought a new stake in DocuSign during the 4th quarter valued at approximately $1,505,000. Vise Technologies Inc. acquired a new stake in DocuSign in the 4th quarter valued at approximately $221,000. McIlrath & Eck LLC increased its position in DocuSign by 476.0% in the 4th quarter. McIlrath & Eck LLC now owns 432 shares of the company’s stock worth $39,000 after buying an additional 357 shares during the period. Finally, Castleark Management LLC acquired a new position in shares of DocuSign during the fourth quarter worth approximately $17,669,000. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on DOCU shares. UBS Group lifted their price target on DocuSign from $60.00 to $100.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Piper Sandler upped their target price on DocuSign from $60.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, December 6th. JMP Securities reaffirmed a “market outperform” rating and set a $124.00 price objective on shares of DocuSign in a research report on Tuesday, January 7th. Royal Bank of Canada reissued a “sector perform” rating and set a $90.00 target price (up previously from $57.00) on shares of DocuSign in a research note on Friday, December 6th. Finally, Morgan Stanley lifted their price objective on DocuSign from $62.00 to $97.00 and gave the company an “equal weight” rating in a research report on Friday, December 6th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price 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.