Docusign (NASDAQ:DOCU) Insider Sells 12,000 Shares of Company Stock

Docusign Inc. (NASDAQ:DOCU) insider James Shaughnessy sold 12,000 shares of the firm’s stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $68.80, for a total transaction of $825,600.00. Following the sale, the insider owned 50,591 shares of the company’s stock, valued at $3,480,660.80. This trade represents a 19.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Docusign Stock Performance

DOCU traded down $0.73 during midday trading on Friday, reaching $69.01. The company had a trading volume of 1,848,041 shares, compared to its average volume of 3,319,626. The stock has a market cap of $12.90 billion, a PE ratio of 42.08, a P/E/G ratio of 2.58 and a beta of 0.86. Docusign Inc. has a 12-month low of $40.16 and a 12-month high of $75.00. The business has a 50-day moving average price of $63.52 and a two-hundred day moving average price of $52.98.

Docusign (NASDAQ:DOCU) last released its earnings results on Thursday, September 3rd. The company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.07. Docusign had a net margin of 9.82% and a return on equity of 18.29%. The firm had revenue of $875.75 million during the quarter, compared to the consensus estimate of $867.22 million. During the same period in the prior year, the firm earned $0.30 EPS. The company’s revenue was up 9.4% compared to the same quarter last year. On average, research analysts anticipate that Docusign Inc. will post 2.13 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of DOCU. Modus Advisors LLC bought a new stake in Docusign during the 4th quarter valued at $27,000. WealthCollab LLC boosted its holdings in shares of Docusign by 372.4% in the first quarter. WealthCollab LLC now owns 855 shares of the company’s stock worth $41,000 after acquiring an additional 674 shares during the period. Virtus Advisers LLC purchased a new position in shares of Docusign in the second quarter valued at $47,000. Rakuten Securities Inc. purchased a new position in shares of Docusign in the second quarter valued at $49,000. Finally, Harbour Investments Inc. grew its position in shares of Docusign by 56.6% in the fourth quarter. Harbour Investments Inc. now owns 797 shares of the company’s stock valued at $55,000 after purchasing an additional 288 shares in the last quarter. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

DOCU has been the subject of a number of recent research reports. Wells Fargo & Company raised their target price on Docusign from $55.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Friday, September 4th. Citizens Jmp reaffirmed a “market outperform” rating and set a $86.00 price target on shares of Docusign in a research report on Friday, September 4th. Wall Street Zen downgraded Docusign from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 2nd. Piper Sandler increased their price target on Docusign from $52.00 to $75.00 and gave the stock a “neutral” rating in a research note on Friday, September 4th. Finally, Citigroup lifted their price objective on Docusign from $54.00 to $72.00 and gave the stock a “neutral” rating in a report on Friday, September 4th. Three analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $67.33.

Docusign Company Profile

DocuSign, Inc (NASDAQ:DOCU) provides cloud-based software for electronically signing, managing and automating agreements. Its platform enables individuals and organizations to prepare, send, sign, track and store documents digitally, helping replace paper-based contracting processes.

The company’s offerings include electronic signature tools, contract lifecycle management, identity verification and authentication services, document generation, agreement analytics and related workflow automation capabilities.