Robert Chatwani Sells 13,818 Shares of Docusign (NASDAQ:DOCU) Stock

Docusign Inc. (NASDAQ:DOCU) insider Robert Chatwani sold 13,818 shares of Docusign stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $68.33, for a total transaction of $944,183.94. Following the completion of the sale, the insider directly owned 70,197 shares of the company’s stock, valued at approximately $4,796,561.01. This trade represents a 16.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Robert Chatwani also recently made the following trade(s):

• On Monday, December 15th, Robert Chatwani sold 1,683 shares of Docusign stock. The stock was sold at an average price of $70.87, for a total transaction of $119,274.21.
• On Thursday, December 11th, Robert Chatwani sold 983 shares of Docusign stock. The shares were sold at an average price of $68.62, for a total value of $67,453.46.

Docusign Stock Performance

DOCU stock opened at $69.40 on Friday. The stock’s 50 day simple moving average is $68.93 and its 200 day simple moving average is $74.18. The company has a market cap of $13.90 billion, a P/E ratio of 48.53, a price-to-earnings-growth ratio of 3.40 and a beta of 0.98. Docusign Inc. has a fifty-two week low of $63.41 and a fifty-two week high of $99.30.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Oak Family Advisors LLC boosted its position in Docusign by 37.2% during the second quarter. Oak Family Advisors LLC now owns 95,134 shares of the company’s stock worth $7,410,000 after purchasing an additional 25,795 shares during the period. Baird Financial Group Inc. raised its position in shares of Docusign by 927.2% in the second quarter. Baird Financial Group Inc. now owns 124,145 shares of the company’s stock valued at $9,670,000 after purchasing an additional 112,059 shares during the period. QRG Capital Management Inc. lifted its stake in shares of Docusign by 6.6% during the 2nd quarter. QRG Capital Management Inc. now owns 70,583 shares of the company’s stock valued at $5,498,000 after buying an additional 4,341 shares in the last quarter. Vise Technologies Inc. bought a new position in Docusign in the 2nd quarter worth approximately $436,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Docusign in the 2nd quarter valued at approximately $32,294,000. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on DOCU. BTIG Research assumed coverage on Docusign in a research report on Tuesday. They set a “buy” rating and a $88.00 target price on the stock. Wells Fargo & Company lowered their price objective on shares of Docusign from $85.00 to $75.00 and set an “equal weight” rating on the stock in a report on Friday, December 5th. Piper Sandler dropped their price objective on shares of Docusign from $90.00 to $75.00 and set a “neutral” rating on the stock in a research note on Friday, December 5th. UBS Group decreased their target price on shares of Docusign from $85.00 to $75.00 and set a “neutral” rating for the company in a research report on Friday, December 5th. Finally, JMP Securities restated a “market outperform” rating and issued a $124.00 target price on shares of Docusign in a 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. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $86.80.

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.