Insider Selling: Docusign (NASDAQ:DOCU) Insider Sells 14,676 Shares of Stock

Docusign Inc. (NASDAQ:DOCU) insider Robert Chatwani sold 14,676 shares of the business’s stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of $69.41, for a total value of $1,018,661.16. Following the transaction, the insider directly owned 75,928 shares in the company, valued at $5,270,162.48. This trade represents a 16.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Docusign Stock Performance

DOCU stock traded down $0.50 on Monday, reaching $68.57. The company’s stock had a trading volume of 3,267,441 shares, compared to its average volume of 3,664,308. The business has a fifty day simple moving average of $60.37 and a two-hundred day simple moving average of $51.73. Docusign Inc. has a 12-month low of $40.16 and a 12-month high of $86.27. The firm has a market cap of $12.82 billion, a PE ratio of 41.81, a PEG ratio of 2.60 and a beta of 0.90.

Docusign (NASDAQ:DOCU) last released its quarterly earnings results on Thursday, September 3rd. The company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.07. The business had revenue of $875.75 million for the quarter, compared to analysts’ expectations of $867.22 million. Docusign had a net margin of 9.82% and a return on equity of 18.29%. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.30 earnings per share. As a group, research analysts anticipate that Docusign Inc. will post 2.1 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on DOCU. Morgan Stanley increased their price target on shares of Docusign from $69.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, September 4th. Robert W. Baird lifted their price objective on Docusign from $55.00 to $72.00 and gave the company a “neutral” rating in a research report on Friday, September 4th. UBS Group upped their target price on Docusign from $54.00 to $70.00 and gave the stock a “neutral” rating in a report on Friday, September 4th. Bank of America increased their target price on Docusign from $58.00 to $64.00 and gave the stock an “underperform” rating in a research report on Friday, September 4th. Finally, Wall Street Zen cut Docusign from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 2nd. Three research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $67.33.

Hedge Funds Weigh In On Docusign

A number of institutional investors and hedge funds have recently made changes to their positions in DOCU. BlackRock Inc. purchased a new position in shares of Docusign during the second quarter valued at approximately $927,059,000. Capital World Investors grew its stake in shares of Docusign by 38.1% in the 4th quarter. Capital World Investors now owns 5,815,804 shares of the company’s stock worth $397,801,000 after buying an additional 1,603,900 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in Docusign by 76.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 5,285,128 shares of the company’s stock valued at $250,568,000 after buying an additional 2,283,996 shares in the last quarter. Geode Capital Management LLC increased its position in Docusign by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 4,084,463 shares of the company’s stock valued at $278,665,000 after buying an additional 18,873 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in Docusign by 4.0% during the first quarter. Renaissance Technologies LLC now owns 3,170,061 shares of the company’s stock valued at $150,293,000 after buying an additional 123,100 shares during the last quarter. Institutional investors own 77.64% of the company’s stock.

About Docusign

DocuSign, Inc is a provider of digital agreement management and electronic signature solutions. Its platform enables individuals and organizations to prepare, send, sign, manage and store agreements electronically, helping businesses replace paper-based contracting processes with digital workflows.

The company’s products and services include DocuSign eSignature, which supports electronic signing and authentication, as well as tools for contract lifecycle management, agreement preparation, identity verification, notarial services and workflow automation.