James Shaughnessy Sells 12,000 Shares of Docusign (NASDAQ:DOCU) Stock

Docusign Inc. (NASDAQ:DOCU) insider James Shaughnessy sold 12,000 shares of Docusign stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $46.83, for a total value of $561,960.00. Following the completion of the transaction, the insider owned 53,631 shares in the company, valued at $2,511,539.73. The trade was a 18.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Docusign Price Performance

Shares of NASDAQ DOCU traded up $0.20 during trading hours on Thursday, hitting $48.37. 3,274,561 shares of the company’s stock were exchanged, compared to its average volume of 5,001,379. The company’s 50-day moving average price is $47.77 and its 200-day moving average price is $62.17. Docusign Inc. has a 1-year low of $40.16 and a 1-year high of $94.67. The stock has a market capitalization of $9.40 billion, a price-to-earnings ratio of 32.68, a PEG ratio of 1.93 and a beta of 1.03.

Docusign (NASDAQ:DOCU) last released its earnings results on Tuesday, March 17th. The company reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.06. The firm had revenue of $836.86 million for the quarter, compared to analyst estimates of $828.23 million. Docusign had a return on equity of 16.86% and a net margin of 9.60%.The company’s revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.86 EPS. On average, research analysts expect that Docusign Inc. will post 1.17 earnings per share for the current year.

Docusign announced that its board has authorized a stock repurchase plan on Tuesday, March 17th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the company to repurchase up to 21% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On Docusign

A number of institutional investors have recently bought and sold shares of the business. Norges Bank acquired a new position in shares of Docusign in the 4th quarter valued at $186,795,000. Capital World Investors lifted its holdings in shares of Docusign by 38.1% during the 4th quarter. Capital World Investors now owns 5,815,804 shares of the company’s stock worth $397,801,000 after acquiring an additional 1,603,900 shares during the period. Woodline Partners LP boosted its position in shares of Docusign by 24,412.7% during the 3rd quarter. Woodline Partners LP now owns 958,938 shares of the company’s stock valued at $69,130,000 after acquiring an additional 955,026 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Docusign by 46.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,001,132 shares of the company’s stock valued at $205,277,000 after acquiring an additional 946,512 shares during the period. Finally, Marshall Wace LLP increased its stake in Docusign by 1,575.5% in the fourth quarter. Marshall Wace LLP now owns 888,411 shares of the company’s stock valued at $60,767,000 after acquiring an additional 835,388 shares during the period. Institutional investors and hedge funds own 77.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Robert W. Baird dropped their target price 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. Piper Sandler decreased their price target on shares of Docusign from $75.00 to $52.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 18th. Cantor Fitzgerald restated an “outperform” rating on shares of Docusign in a report on Wednesday, December 17th. Needham & Company LLC restated a “hold” rating on shares of Docusign in a report on Tuesday, March 10th. Finally, Morgan Stanley cut their price objective on shares of Docusign from $90.00 to $69.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 18th. Five investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Docusign has an average rating of “Hold” and a consensus price target 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.