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

DocuSign, Inc. (NASDAQ:DOCU) Director Peter Solvik sold 10,000 shares of the stock in a transaction 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 completion of the sale, the director now owns 150,253 shares of the company’s stock, valued at $13,712,088.78. The trade was a 6.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

DocuSign Stock Up 1.4 %

Shares of NASDAQ:DOCU opened at $91.34 on Thursday. DocuSign, Inc. has a twelve month low of $48.70 and a twelve month high of $107.86. The stock’s 50 day moving average is $87.95 and its 200-day moving average is $69.61. The firm has a market capitalization of $18.45 billion, a price-to-earnings ratio of 18.83, a PEG ratio of 8.70 and a beta of 0.88.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of DOCU. State Street Corp increased its position in shares of DocuSign by 2.3% during the third quarter. State Street Corp now owns 5,372,939 shares of the company’s stock worth $333,604,000 after acquiring an additional 120,743 shares in the last quarter. Renaissance Technologies LLC raised its position in DocuSign by 18.3% in the 2nd quarter. Renaissance Technologies LLC now owns 3,729,314 shares of the company’s stock valued at $199,518,000 after buying an additional 576,414 shares during the last quarter. Pacer Advisors Inc. raised its holdings in shares of DocuSign by 77.9% in the second quarter. Pacer Advisors Inc. now owns 3,519,969 shares of the company’s stock valued at $188,318,000 after purchasing an additional 1,541,816 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of DocuSign by 1.6% during the third quarter. Geode Capital Management LLC now owns 3,483,184 shares of the company’s stock valued at $215,789,000 after purchasing an additional 53,554 shares in the last quarter. Finally, Clearbridge Investments LLC boosted its holdings in DocuSign by 4.1% during the second quarter. Clearbridge Investments LLC now owns 2,920,842 shares of the company’s stock worth $156,265,000 after purchasing an additional 115,616 shares during the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a research note on Friday, December 6th. Citigroup upped their price objective on shares of DocuSign from $87.00 to $113.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Hsbc Global Res raised shares of DocuSign to a “moderate sell” rating in a research note on Friday, December 6th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $90.00 price target (up previously from $57.00) on shares of DocuSign in a research report on Friday, December 6th. Finally, Morgan Stanley lifted their price objective on DocuSign from $62.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Friday, December 6th. Three 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus 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.