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

Docusign Inc. (NASDAQ:DOCU) insider Robert Chatwani sold 13,818 shares of the business’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $68.33, for a total transaction of $944,183.94. Following the transaction, the insider directly owned 70,197 shares of the company’s stock, valued at approximately $4,796,561.01. This represents a 16.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 transaction of $67,453.46.

Docusign Trading Up 0.5%

NASDAQ DOCU opened at $68.10 on Thursday. Docusign Inc. has a 1-year low of $63.41 and a 1-year high of $99.30. The company has a market capitalization of $13.64 billion, a price-to-earnings ratio of 47.75, a PEG ratio of 3.39 and a beta of 0.98. The stock’s 50 day moving average is $68.97 and its two-hundred day moving average is $74.21.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on DOCU shares. Needham & Company LLC restated a “hold” rating on shares of Docusign in a research note on Wednesday. Evercore ISI reduced their price objective on Docusign from $92.00 to $80.00 and set an “in-line” rating on the stock in a report on Friday, December 5th. Morgan Stanley upped their price target on Docusign from $86.00 to $90.00 and gave the company an “equal weight” rating in a research note on Monday, September 8th. Wall Street Zen upgraded Docusign from a “hold” rating to a “buy” rating in a research report on Saturday, September 13th. Finally, UBS Group cut their target price on shares of Docusign from $85.00 to $75.00 and set a “neutral” rating on the stock in a research report on Friday, December 5th. Six analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $86.80.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. HighTower Advisors LLC boosted its position in shares of Docusign by 15.2% during the first quarter. HighTower Advisors LLC now owns 45,690 shares of the company’s stock worth $3,719,000 after purchasing an additional 6,013 shares in the last quarter. Aberdeen Group plc raised its position in shares of Docusign by 130.0% during the first quarter. Aberdeen Group plc now owns 108,969 shares of the company’s stock worth $8,870,000 after purchasing an additional 61,598 shares during the period. Ethic Inc. lifted its holdings in shares of Docusign by 281.8% during the 1st quarter. Ethic Inc. now owns 14,485 shares of the company’s stock valued at $1,198,000 after purchasing an additional 10,691 shares in the last quarter. Raymond James Financial Inc. lifted its holdings in shares of Docusign by 5.1% during the 1st quarter. Raymond James Financial Inc. now owns 449,139 shares of the company’s stock valued at $36,560,000 after purchasing an additional 21,640 shares in the last quarter. Finally, Corient IA LLC bought a new stake in Docusign during the 1st quarter worth approximately $204,000. Institutional investors and hedge funds own 77.64% of the company’s stock.

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.