DocuSign Inc. (NASDAQ:DOCU) Chief Revenue Officer Paula Hansen recently sold 6,000 shares of the company’s stock for a total of $402,300. The transaction took place on January 2, 2024, with shares sold at an average price of $67.05. Following this sale, Hansen’s remaining ownership in DocuSign stands at 68,970 shares, valued at approximately $4,624,438.50. This sale reflects an 8% reduction in her stake in the company.
The details of this transaction were disclosed in a filing with the Securities & Exchange Commission. Investors can find this information through the official SEC channels.
Stock Performance and Market Analysis
On the same day as Hansen’s sale, shares of DocuSign traded up by 1.3%, increasing by $0.85 to reach $65.19. The trading volume amounted to 3,173,913 shares, slightly below the average of 3,258,453. DocuSign currently holds a market capitalization of $13.06 billion, with a price-to-earnings (PE) ratio of 45.59 and a price-to-earnings-growth (PEG) ratio of 3.20. The stock’s beta stands at 0.99, indicating it is relatively stable compared to the market.
Over the past year, DocuSign’s stock has experienced fluctuations, with a low of $63.41 and a high of $99.30. Its 50-day simple moving average is $68.54, while the two-hundred day simple moving average is at $73.02.
Analyst Ratings and Investor Sentiment
Recent assessments from various research firms have influenced market sentiment regarding DocuSign’s stock. JMP Securities has reaffirmed a “market outperform” rating with a target price of $124.00, as noted in a report dated October 3, 2023. Conversely, Evercore ISI lowered its price target from $92.00 to $80.00 while maintaining an “in-line” rating in a report dated December 5, 2023.
Additionally, BTIG Research initiated coverage with a “buy” rating and a target price of $88.00 on December 16, 2023. In contrast, Zacks Research downgraded DocuSign from a “strong-buy” to a “hold” rating on November 24, 2023. Overall, six analysts have issued a Buy rating, while sixteen have provided a Hold rating, resulting in an average rating of “Hold” with a consensus target price of $85.13, according to data from MarketBeat.com.
Institutional investors have also been active in adjusting their positions in DocuSign. During the second quarter, Twin Peaks Wealth Advisors LLC acquired a new stake valued around $43,000. SJS Investment Consulting Inc. significantly increased its stake by over 5,318%, now holding 596 shares after acquiring an additional 585 shares. Similarly, CX Institutional raised its stake by 5,860%, acquiring an additional 586 shares to reach the same total.
Other institutional changes include MassMutual Private Wealth & Trust FSB, which grew its stake by 31.3%, and First Horizon Advisors Inc., which increased its holdings by 48.6%. Overall, approximately 77.64% of DocuSign’s stock is held by hedge funds and other institutional investors.
About DocuSign
DocuSign, Inc. is recognized as a leading provider of electronic signature and digital transaction management solutions. Its flagship product, DocuSign eSignature, allows organizations to securely send, sign, and manage legally binding electronic agreements in the cloud. Beyond eSignature, DocuSign’s Agreement Cloud encompasses contract lifecycle management, document generation, and workflow automation, streamlining the entire agreement process from initiation through execution and storage. The company’s platform serves a diverse range of industries, including finance, real estate, healthcare, technology, and government.
As the market continues to evolve, the actions of executives like Paula Hansen and the insights from analysts will remain pivotal in shaping investor sentiment and the future trajectory of DocuSign’s stock.
