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

DocuSign, Inc. (NASDAQ:DOCU) Director Peter Solvik sold 10,000 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $91.26, for a total value of $912,600.00. Following the sale, the director now owns 150,253 shares of the company’s stock, valued at approximately $13,712,088.78. The trade was a 6.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

DocuSign Price Performance

DocuSign stock opened at $90.02 on Tuesday. The company has a market capitalization of $18.19 billion, a PE ratio of 18.56, a price-to-earnings-growth ratio of 8.70 and a beta of 0.88. DocuSign, Inc. has a one year low of $48.70 and a one year high of $107.86. The business has a 50 day simple moving average of $87.59 and a 200 day simple moving average of $69.36.

Hedge Funds Weigh In On DocuSign

Hedge funds and other institutional investors have recently modified their holdings of the stock. Toronto Dominion Bank lifted its position in shares of DocuSign by 30.3% during the 3rd quarter. Toronto Dominion Bank now owns 26,159 shares of the company’s stock worth $1,624,000 after buying an additional 6,081 shares during the period. Inspire Investing LLC bought a new position in shares of DocuSign during the 3rd quarter worth approximately $911,000. Charles Schwab Investment Management Inc. lifted its position in shares of 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 buying an additional 16,014 shares during the period. International Assets Investment Management LLC increased its holdings 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 valued at $27,252,000 after purchasing an additional 431,295 shares in the last quarter. Finally, Quantinno Capital Management LP increased its holdings in DocuSign by 39.5% during the 3rd quarter. Quantinno Capital Management LP now owns 201,546 shares of the company’s stock valued at $12,514,000 after purchasing an additional 57,104 shares in the last quarter. Institutional investors own 77.64% of the company’s stock.

Analyst Upgrades and Downgrades

DOCU has been the subject of several recent analyst reports. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a research note on Friday, December 6th. HSBC restated a “reduce” rating on shares of DocuSign in a research note on Friday, December 6th. JMP Securities restated a “market outperform” rating and set a $124.00 target price on shares of DocuSign in a research note on Tuesday, January 7th. Morgan Stanley increased their target price on DocuSign from $62.00 to $97.00 and gave the company an “equal weight” rating in a research note on Friday, December 6th. Finally, Hsbc Global Res upgraded DocuSign to a “moderate sell” rating in a research note on Friday, December 6th. Three 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. According to data from MarketBeat, 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.