Docusign (NASDAQ:DOCU) Hits New 12-Month Low on Insider Selling

Docusign Inc. (NASDAQ:DOCUGet Free Report)’s share price reached a new 52-week low during trading on Wednesday following insider selling activity. The stock traded as low as $63.25 and last traded at $62.8860, with a volume of 576483 shares. The stock had previously closed at $64.51.

Specifically, CEO Allan C. Thygesen sold 26,250 shares of the firm’s stock in a transaction dated Friday, January 9th. The shares were sold at an average price of $69.60, for a total value of $1,827,000.00. Following the completion of the sale, the chief executive officer owned 142,261 shares in the company, valued at approximately $9,901,365.60. This trade represents a 15.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Blake Jeffrey Grayson sold 6,500 shares of the company’s stock in a transaction dated Friday, January 9th. The stock was sold at an average price of $70.00, for a total transaction of $455,000.00. Following the completion of the transaction, the chief financial officer owned 111,713 shares in the company, valued at $7,819,910. This represents a 5.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Piper Sandler reduced their price objective on shares of Docusign from $90.00 to $75.00 and set a “neutral” rating for the company in a research note on Friday, December 5th. Evercore ISI lowered their price target on Docusign from $92.00 to $80.00 and set an “in-line” rating for the company in a research report on Friday, December 5th. Needham & Company LLC reaffirmed a “hold” rating on shares of Docusign in a report on Wednesday, December 17th. Wedbush lowered their target price on Docusign from $85.00 to $75.00 and set a “neutral” rating on the stock in a research note on Friday, December 5th. Finally, JMP Securities restated a “market outperform” rating and set a $124.00 price target on shares of Docusign in a research report on Friday, October 3rd. Six investment analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Docusign currently has a consensus rating of “Hold” and a consensus target price of $85.13.

View Our Latest Research Report on DOCU

Key Docusign News

Here are the key news stories impacting Docusign this week:

Docusign Price Performance

The company has a market capitalization of $11.95 billion, a PE ratio of 41.74, a P/E/G ratio of 3.05 and a beta of 0.99. The business’s 50 day simple moving average is $67.83 and its 200 day simple moving average is $72.60.

Institutional Investors Weigh In On Docusign

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DOCU. Central Pacific Bank Trust Division purchased a new stake in Docusign during the fourth quarter worth about $25,000. True Wealth Design LLC lifted its stake in Docusign by 105.2% during the fourth quarter. True Wealth Design LLC now owns 433 shares of the company’s stock worth $30,000 after purchasing an additional 222 shares during the last quarter. Aventura Private Wealth LLC purchased a new stake in shares of Docusign during the 4th quarter worth approximately $30,000. Twin Peaks Wealth Advisors LLC acquired a new position in Docusign in the second quarter valued at $43,000. Finally, First Horizon Advisors Inc. boosted its position in shares of Docusign by 48.6% in the 2nd quarter. First Horizon Advisors Inc. now owns 590 shares of the company’s stock valued at $46,000 after purchasing an additional 193 shares during the period. Hedge funds and other institutional investors own 77.64% of the company’s stock.

About Docusign

(Get Free Report)

DocuSign, Inc (NASDAQ: DOCU) is a leading provider of electronic signature and digital transaction management solutions. The company’s flagship offering, DocuSign eSignature, enables organizations to send, sign and manage legally binding electronic agreements securely in the cloud. Beyond eSignature, DocuSign’s Agreement Cloud combines contract lifecycle management, document generation, and workflow automation to streamline agreement processes from initiation through execution and storage.

DocuSign’s platform serves a diverse customer base spanning industries such as finance, real estate, healthcare, technology, and government.

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