Paula Hansen, Chief Revenue Officer of Docusign Inc. (NASDAQ:DOCU), sold 6,000 shares of the company’s stock on January 2, 2023, in a transaction valued at approximately $402,300. The shares were sold at an average price of $67.05, resulting in an 8% decrease in Hansen’s ownership, leaving her with 68,970 shares worth around $4,624,438.50.
Following the sale, Docusign’s stock price experienced a slight increase. On the subsequent trading day, shares of Docusign rose by 1.3%, closing at $65.19. The trading volume reached 3,173,913 shares, slightly below the average of 3,258,453 shares. Docusign’s market capitalization currently stands at $13.06 billion, with a price-to-earnings (PE) ratio of 45.59.
Analyst Ratings and Market Trends
Recent assessments from various research firms indicate differing outlooks for Docusign. JMP Securities reaffirmed a “market outperform” rating with a target price of $124.00 as of October 3, 2023. Conversely, Evercore ISI lowered its target price from $92.00 to $80.00, maintaining an “in-line” rating on December 5, 2023. Other notable updates include BTIG Research initiating coverage with a “buy” rating and a target price of $88.00.
In a shift, Zacks Research downgraded Docusign from a “strong-buy” to a “hold” rating on November 24, 2023. Wedbush also revised its target price downward from $85.00 to $75.00, issuing a “neutral” rating. Overall, six analysts have assigned a “buy” rating, while sixteen have opted for a “hold” rating, leading to a consensus target price of $85.13.
Institutional Investment Activity
Changes in institutional holdings reflect ongoing investor interest in Docusign. Twin Peaks Wealth Advisors LLC acquired a new stake valued at approximately $43,000 in the second quarter. Notably, SJS Investment Consulting Inc. significantly increased its position by 5,318.2% during the third quarter, now holding 596 shares worth $43,000.
Similarly, CX Institutional expanded its holdings by 5,860.0%, while MassMutual Private Wealth & Trust FSB enhanced its stake by 31.3% in the second quarter. First Horizon Advisors Inc. also boosted its holdings by 48.6% during the same period. Currently, institutional investors own approximately 77.64% of Docusign’s stock.
Docusign Inc. remains a prominent player in the electronic signature and digital transaction management sector. Its flagship product, DocuSign eSignature, facilitates secure electronic agreements, while the broader Agreement Cloud encompasses contract lifecycle management and workflow automation to optimize agreement processes across various industries, including finance, healthcare, and technology.
