DocuSign (NASDAQ:DOCU) Trading Up 6.4% – What’s Next?

DocuSign, Inc. (NASDAQ:DOCU)’s stock price rose 6.4% on Tuesday . The company traded as high as $96.90 and last traded at $98.21. Approximately 455,777 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 1,968,344 shares. The stock had previously closed at $92.26.

Analyst Ratings Changes

A number of research analysts recently issued reports on DOCU shares. HSBC restated a “reduce” rating on shares of DocuSign in a research report on Friday, December 6th. Jefferies Financial Group upped their target price on DocuSign from $80.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Citigroup raised their target price on DocuSign from $87.00 to $113.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Piper Sandler boosted their price target on DocuSign from $60.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $124.00 price objective on shares of DocuSign in a research note on Tuesday, January 7th. 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $92.45.

DocuSign Price Performance

The company’s fifty day simple moving average is $90.04 and its 200-day simple moving average is $71.96. The firm has a market capitalization of $19.77 billion, a PE ratio of 20.17, a P/E/G ratio of 8.30 and a beta of 0.88.

Insider Activity at DocuSign

In related news, CEO Allan C. Thygesen sold 7,764 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $69.95, for a total value of $543,091.80. Following the completion of the transaction, the chief executive officer now directly owns 107,825 shares of the company’s stock, valued at approximately $7,542,358.75. This represents a 6.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert Chatwani sold 14,800 shares of DocuSign stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $97.76, for a total transaction of $1,446,848.00. Following the sale, the insider now directly owns 73,414 shares in the company, valued at approximately $7,176,952.64. This trade represents a 16.78 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 693,537 shares of company stock valued at $66,575,817. 1.66% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of DOCU. Avior Wealth Management LLC increased its holdings in shares of DocuSign by 36.5% in the fourth quarter. Avior Wealth Management LLC now owns 542 shares of the company’s stock valued at $49,000 after purchasing an additional 145 shares during the last quarter. Linden Thomas Advisory Services LLC grew its holdings in DocuSign by 1.1% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 13,540 shares of the company’s stock valued at $1,218,000 after buying an additional 149 shares in the last quarter. J.W. Cole Advisors Inc. increased its stake in shares of DocuSign by 2.0% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 7,946 shares of the company’s stock worth $493,000 after acquiring an additional 155 shares during the last quarter. Resonant Capital Advisors LLC raised its holdings in shares of DocuSign by 0.9% during the 3rd quarter. Resonant Capital Advisors LLC now owns 17,516 shares of the company’s stock worth $1,088,000 after acquiring an additional 157 shares during the period. Finally, Optimist Retirement Group LLC boosted its position in shares of DocuSign by 3.8% during the 3rd quarter. Optimist Retirement Group LLC now owns 4,416 shares of the company’s stock valued at $274,000 after acquiring an additional 161 shares during the last quarter. 77.64% of the stock is owned by hedge funds and other institutional investors.

DocuSign Company Profile

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.