DocuSign, Inc. (NASDAQ:DOCU) CFO Sells $695,200.00 in Stock

DocuSign, Inc. (NASDAQ:DOCU) CFO Blake Jeffrey Grayson sold 8,000 shares of the stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $86.90, for a total transaction of $695,200.00. Following the completion of the sale, the chief financial officer now directly owns 77,851 shares in the company, valued at $6,765,251.90. This trade represents a 9.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Blake Jeffrey Grayson also recently made the following trade(s):

• On Wednesday, December 18th, Blake Jeffrey Grayson sold 15,588 shares of DocuSign stock. The stock was sold at an average price of $97.78, for a total transaction of $1,524,194.64.
• On Monday, December 16th, Blake Jeffrey Grayson sold 8,000 shares of DocuSign stock. The stock was sold at an average price of $94.77, for a total transaction of $758,160.00.

DocuSign Stock Performance

Shares of NASDAQ DOCU remained flat at $87.34 during midday trading on Tuesday. 1,824,960 shares of the stock were exchanged, compared to its average volume of 2,053,986. The stock’s 50 day moving average is $92.44 and its 200 day moving average is $75.87. DocuSign, Inc. has a 1 year low of $48.70 and a 1 year high of $107.86. The stock has a market cap of $17.64 billion, a P/E ratio of 18.01, a price-to-earnings-growth ratio of 7.56 and a beta of 0.89.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on DOCU. Wells Fargo & Company increased their price objective on shares of DocuSign from $50.00 to $70.00 and gave the stock an “underweight” rating in a research report on Friday, December 6th. Robert W. Baird raised their target price on shares of DocuSign from $59.00 to $100.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Morgan Stanley raised their target price on shares of DocuSign from $62.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Friday, December 6th. JMP Securities reaffirmed a “market outperform” rating and set a $124.00 target price on shares of DocuSign in a research report on Tuesday, January 7th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a research report on Tuesday, February 4th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $92.45.

Institutional Investors Weigh In On DocuSign

Several institutional investors have recently bought and sold shares of DOCU. FMR LLC boosted its stake in DocuSign by 178.2% in the fourth quarter. FMR LLC now owns 6,101,024 shares of the company’s stock valued at $548,726,000 after acquiring an additional 3,908,139 shares in the last quarter. Invesco Ltd. boosted its stake in DocuSign by 283.9% in the fourth quarter. Invesco Ltd. now owns 3,447,275 shares of the company’s stock valued at $310,048,000 after acquiring an additional 2,549,310 shares in the last quarter. Norges Bank acquired a new stake in DocuSign in the fourth quarter valued at approximately $223,196,000. Arrowstreet Capital Limited Partnership boosted its stake in DocuSign by 201.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,158,311 shares of the company’s stock valued at $194,118,000 after acquiring an additional 1,442,639 shares in the last quarter. Finally, Jericho Capital Asset Management L.P. boosted its stake in DocuSign by 34.0% in the fourth quarter. Jericho Capital Asset Management L.P. now owns 4,754,753 shares of the company’s stock valued at $427,642,000 after acquiring an additional 1,205,500 shares in the last quarter. 77.64% of the stock is currently owned by institutional investors and hedge funds.

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.