Insider Selling: Docusign (NASDAQ:DOCU) CRO Sells 6,000 Shares of Stock

Docusign Inc. (NASDAQ:DOCU) CRO Paula Hansen sold 6,000 shares of the business’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $46.84, for a total transaction of $281,040.00. Following the completion of the sale, the executive owned 79,233 shares of the company’s stock, valued at approximately $3,711,273.72. This represents a 7.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Paula Hansen also recently made the following trade(s):

• On Friday, January 2nd, Paula Hansen sold 6,000 shares of Docusign stock. The shares were sold at an average price of $67.05, for a total transaction of $402,300.00.

Docusign Stock Up 0.4%

DOCU stock traded up $0.20 during trading on Thursday, hitting $48.37. 3,274,561 shares of the company’s stock traded hands, compared to its average volume of 5,001,379. The firm has a market capitalization of $9.40 billion, a P/E ratio of 32.68, a PEG ratio of 1.93 and a beta of 1.03. The business has a fifty day simple moving average of $47.77 and a two-hundred day simple moving average of $62.17. Docusign Inc. has a 1 year low of $40.16 and a 1 year high of $94.67.

Docusign (NASDAQ:DOCU) last issued its quarterly earnings data on Tuesday, March 17th. The company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.06. The company had revenue of $836.86 million during the quarter, compared to the consensus estimate of $828.23 million. Docusign had a net margin of 9.60% and a return on equity of 16.86%. Docusign’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.86 earnings per share. On average, equities research analysts predict that Docusign Inc. will post 1.17 EPS for the current fiscal year.

Docusign declared that its board has approved a stock buyback program on Tuesday, March 17th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 21% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in DOCU. Centaurus Financial Inc. increased its position in Docusign by 2.6% during the 2nd quarter. Centaurus Financial Inc. now owns 5,398 shares of the company’s stock valued at $420,000 after buying an additional 136 shares in the last quarter. Mitchell & Pahl Private Wealth LLC boosted its holdings in Docusign by 0.7% in the third quarter. Mitchell & Pahl Private Wealth LLC now owns 21,422 shares of the company’s stock worth $1,544,000 after acquiring an additional 149 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Docusign by 15.1% in the third quarter. EverSource Wealth Advisors LLC now owns 1,229 shares of the company’s stock worth $89,000 after acquiring an additional 161 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in shares of Docusign by 8.2% during the second quarter. Smartleaf Asset Management LLC now owns 2,169 shares of the company’s stock worth $166,000 after acquiring an additional 165 shares during the last quarter. Finally, Americana Partners LLC grew its stake in shares of Docusign by 3.3% during the third quarter. Americana Partners LLC now owns 5,467 shares of the company’s stock worth $394,000 after acquiring an additional 176 shares during the last quarter. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Docusign in a research report on Tuesday, March 10th. HSBC set a $53.00 target price on shares of Docusign in a report on Friday, February 13th. Citizens Jmp lowered their price target on shares of Docusign from $124.00 to $86.00 and set a “market outperform” rating on the stock in a report on Wednesday, March 18th. Robert W. Baird cut their price objective on shares of Docusign from $75.00 to $55.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 18th. Finally, Wells Fargo & Company reduced their price objective on shares of Docusign from $75.00 to $60.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 18th. Five research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $64.67.

About Docusign

DocuSign, Inc (NASDAQ: DOCU) is a leading provider of electronic signature and digital transaction management solutions. The company’s flagship offering, DocuSign eSignature, enables organizations to send, sign and manage legally binding electronic agreements securely in the cloud. Beyond eSignature, DocuSign’s Agreement Cloud combines contract lifecycle management, document generation, and workflow automation to streamline agreement processes from initiation through execution and storage.

DocuSign’s platform serves a diverse customer base spanning industries such as finance, real estate, healthcare, technology, and government.