DocuSign (NASDAQ:DOCU) Trading 6.4% Higher - Here's What Happened

DocuSign, Inc. (NASDAQ:DOCU - Get Free Report) shares traded up 6.4% on Tuesday . The stock traded as high as $96.90 and last traded at $98.21. 455,777 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 1,968,344 shares. The stock had previously closed at $92.26.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on DOCU shares. HSBC restated a "reduce" rating on shares of DocuSign in a report on Friday, December 6th. Jefferies Financial Group upped their price objective 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. Royal Bank of Canada reissued a "sector perform" rating and issued a $90.00 target price (up from $57.00) on shares of DocuSign in a research report on Friday, December 6th. Needham & Company LLC reaffirmed a "hold" rating on shares of DocuSign in a research note on Friday, December 6th. Finally, Citigroup boosted their price objective on shares of DocuSign from $87.00 to $113.00 and gave the company a "buy" rating in a research note on Friday, December 6th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, DocuSign presently has an average rating of "Hold" and an average target price of $92.45.

DocuSign Price Performance

The stock has a market capitalization of $19.53 billion, a price-to-earnings ratio of 19.96, a price-to-earnings-growth ratio of 8.63 and a beta of 0.88. The company has a 50-day simple moving average of $91.05 and a two-hundred day simple moving average of $72.58.

Insider Buying and Selling at DocuSign

In other DocuSign news, CFO Blake Jeffrey Grayson sold 8,000 shares of the company's stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $94.77, for a total value of $758,160.00. Following the completion of the sale, the chief financial officer now directly owns 101,439 shares of the company's stock, valued at approximately $9,613,374.03. This represents a 7.31 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Allan C. Thygesen sold 7,763 shares of DocuSign stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $80.54, for a total transaction of $625,232.02. Following the completion of the transaction, the chief executive officer now directly owns 100,062 shares in the company, valued at $8,058,993.48. This represents a 7.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 685,773 shares of company stock valued at $66,032,726 in the last quarter. Corporate insiders own 1.66% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. State Street Corp grew its holdings in shares of DocuSign by 2.3% in the 3rd quarter. State Street Corp now owns 5,372,939 shares of the company's stock worth $333,604,000 after acquiring an additional 120,743 shares during the last quarter. Geode Capital Management LLC increased its stake in DocuSign by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 3,483,184 shares of the company's stock worth $215,789,000 after purchasing an additional 53,554 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in DocuSign by 5.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 2,277,312 shares of the company's stock worth $141,398,000 after buying an additional 112,919 shares during the period. FMR LLC lifted its stake in DocuSign by 16.8% during the third quarter. FMR LLC now owns 2,192,885 shares of the company's stock valued at $136,156,000 after buying an additional 315,073 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of DocuSign by 14.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,659,367 shares of the company's stock worth $103,030,000 after buying an additional 208,813 shares during the period. Institutional investors own 77.64% of the company's stock.

DocuSign Company Profile

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.