DocuSign, Inc. (NASDAQ:DOCU) CFO Blake Jeffrey Grayson Sells 8,000 Shares of Stock

DocuSign, Inc. (NASDAQ:DOCU) CFO Blake Jeffrey Grayson sold 8,000 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $94.77, for a total value of $758,160.00. Following the transaction, the chief financial officer now directly owns 101,439 shares in the company, valued at $9,613,374.03. This trade represents a 7.31 % decrease in their position. The sale 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 Tuesday, October 15th, Blake Jeffrey Grayson sold 9,552 shares of DocuSign stock. The shares were sold at an average price of $68.80, for a total transaction of $657,177.60.
• On Wednesday, September 18th, Blake Jeffrey Grayson sold 14,036 shares of DocuSign stock. The stock was sold at an average price of $55.47, for a total value of $778,576.92.

DocuSign Stock Performance

DOCU stock opened at $98.17 on Wednesday. The company has a market capitalization of $19.83 billion, a PE ratio of 20.24, a price-to-earnings-growth ratio of 8.72 and a beta of 0.92. DocuSign, Inc. has a 52 week low of $48.70 and a 52 week high of $107.86. The company’s 50-day simple moving average is $79.37 and its 200 day simple moving average is $64.02.

Institutional Investors Weigh In On DocuSign

Large investors have recently added to or reduced their stakes in the stock. Thrivent Financial for Lutherans acquired a new position in DocuSign during the second quarter worth about $115,795,000. Pacer Advisors Inc. grew its holdings in DocuSign by 77.9% during the 2nd quarter. Pacer Advisors Inc. now owns 3,519,969 shares of the company’s stock worth $188,318,000 after acquiring an additional 1,541,816 shares during the period. KBC Group NV boosted its stake in DocuSign by 209.8% during the third quarter. KBC Group NV now owns 1,156,874 shares of the company’s stock worth $71,830,000 after acquiring an additional 783,419 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of 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 period. Finally, Skandinaviska Enskilda Banken AB publ lifted its position in DocuSign by 151.3% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 865,872 shares of the company’s stock valued at $46,324,000 after acquiring an additional 521,292 shares in the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.

Analyst Upgrades and Downgrades

DOCU has been the subject of several research analyst reports. JPMorgan Chase & Co. boosted their price target on shares of DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a report on Tuesday, December 3rd. Hsbc Global Res upgraded shares of DocuSign to a “moderate sell” rating in a report on Friday, December 6th. Wells Fargo & Company increased their target price on DocuSign from $50.00 to $70.00 and gave the stock an “underweight” rating in a report on Friday, December 6th. Robert W. Baird boosted their target price on DocuSign from $59.00 to $100.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Finally, HSBC reaffirmed a “reduce” rating on shares of DocuSign in a research note on Friday, December 6th. Three equities 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 company. According to data from MarketBeat.com, DocuSign has an average rating of “Hold” and an average 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.