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

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

DocuSign Trading Up 1.6 %

DOCU stock opened at $94.15 on Friday. The business’s 50 day simple moving average is $80.33 and its 200 day simple moving average is $64.43. DocuSign, Inc. has a 1-year low of $48.70 and a 1-year high of $107.86. The firm has a market capitalization of $19.02 billion, a PE ratio of 19.41, a PEG ratio of 8.72 and a beta of 0.92.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. acquired a new position in DocuSign in the 3rd quarter valued at $28,000. Brooklyn Investment Group acquired a new position in DocuSign in the 3rd quarter valued at $33,000. Reston Wealth Management LLC acquired a new position in DocuSign in the 3rd quarter valued at $47,000. Wilmington Savings Fund Society FSB acquired a new position in DocuSign in the 3rd quarter valued at $51,000. Finally, nVerses Capital LLC acquired a new position in DocuSign in the 2nd quarter valued at $48,000. 77.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on DOCU. JPMorgan Chase & Co. increased their price target on DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a research report on Tuesday, December 3rd. Royal Bank of Canada reiterated a “sector perform” rating and set a $90.00 price objective (up previously from $57.00) on shares of DocuSign in a research note on Friday, December 6th. HSBC reiterated a “reduce” rating on shares of DocuSign in a research note on Friday, December 6th. Morgan Stanley upped their price objective on DocuSign from $62.00 to $97.00 and gave the stock an “equal weight” rating in a research note on Friday, December 6th. Finally, Citigroup upped their price objective on DocuSign from $87.00 to $113.00 and gave the stock a “buy” rating in a research note 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 company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average 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.