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

DocuSign, Inc. (NASDAQ:DOCU) CFO Blake Jeffrey Grayson sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $86.90, for a total transaction of $695,200.00. Following the transaction, the chief financial officer now directly owns 77,851 shares of the company’s stock, valued at $6,765,251.90. This represents a 9.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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 shares were 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 shares were sold at an average price of $94.77, for a total transaction of $758,160.00.

DocuSign Price Performance

Shares of DocuSign stock opened at $86.20 on Friday. DocuSign, Inc. has a 1 year low of $48.70 and a 1 year high of $107.86. The company has a market capitalization of $17.41 billion, a price-to-earnings ratio of 17.77, a P/E/G ratio of 7.03 and a beta of 0.89. The business has a fifty day simple moving average of $92.10 and a two-hundred day simple moving average of $76.20.

Institutional Investors Weigh In On DocuSign

A number of hedge funds and other institutional investors have recently modified their holdings of DOCU. FMR LLC lifted its holdings in shares of DocuSign by 178.2% during the fourth quarter. FMR LLC now owns 6,101,024 shares of the company’s stock worth $548,726,000 after buying an additional 3,908,139 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of DocuSign by 283.9% during the fourth quarter. Invesco Ltd. now owns 3,447,275 shares of the company’s stock worth $310,048,000 after buying an additional 2,549,310 shares in the last quarter. Norges Bank acquired a new stake in shares of DocuSign during the fourth quarter worth $223,196,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of DocuSign by 201.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,158,311 shares of the company’s stock worth $194,118,000 after buying an additional 1,442,639 shares in the last quarter. Finally, Jericho Capital Asset Management L.P. lifted its holdings in shares of DocuSign by 34.0% during the fourth quarter. Jericho Capital Asset Management L.P. now owns 4,754,753 shares of the company’s stock worth $427,642,000 after buying an additional 1,205,500 shares in the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.

Analysts Set New Price Targets

DOCU has been the subject of several analyst reports. Jefferies Financial Group raised their target price on shares of DocuSign from $80.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. JMP Securities reissued a “market outperform” rating and issued a $124.00 target price on shares of DocuSign in a research note on Tuesday, January 7th. HSBC reissued a “reduce” rating on shares of DocuSign in a research note on Friday, December 6th. Morgan Stanley raised their target price on shares of DocuSign from $62.00 to $97.00 and gave the company an “equal weight” rating in a research note on Friday, December 6th. Finally, Wells Fargo & Company raised their target price on shares of DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating 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 issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target 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.