DocuSign, Inc. (NASDAQ:DOCU) Insider Sells 7,500 Shares of Stock

by · The Markets Daily

DocuSign, Inc. (NASDAQ:DOCU – Get Free Report) insider James P. Shaughnessy sold 7,500 shares of DocuSign stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $67.83, for a total value of $508,725.00. Following the transaction, the insider now owns 43,301 shares of the company’s stock, valued at $2,937,106.83. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

DocuSign Stock Performance

DOCU traded down $0.28 during mid-day trading on Thursday, reaching $68.97. 5,787,956 shares of the stock were exchanged, compared to its average volume of 2,771,588. DocuSign, Inc. has a 1 year low of $38.11 and a 1 year high of $69.53. The company has a 50 day moving average price of $57.65 and a two-hundred day moving average price of $56.68. The stock has a market capitalization of $14.12 billion, a PE ratio of 133.17, a price-to-earnings-growth ratio of 6.37 and a beta of 0.92.

DocuSign (NASDAQ:DOCU – Get Free Report) last announced its quarterly earnings data on Thursday, September 5th. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.80 by $0.17. DocuSign had a net margin of 34.56% and a return on equity of 16.18%. The business had revenue of $736.03 million for the quarter, compared to analyst estimates of $727.20 million. During the same quarter in the previous year, the firm posted $0.09 earnings per share. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. Sell-side analysts expect that DocuSign, Inc. will post 0.99 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of DocuSign by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 21,399,739 shares of the company’s stock valued at $1,272,214,000 after purchasing an additional 417,352 shares in the last quarter. Coatue Management LLC purchased a new position in DocuSign in the 4th quarter worth $288,274,000. American Century Companies Inc. lifted its stake in shares of DocuSign by 1.9% in the 2nd quarter. American Century Companies Inc. now owns 4,099,400 shares of the company’s stock valued at $219,318,000 after acquiring an additional 75,026 shares during the last quarter. Renaissance Technologies LLC grew its position in DocuSign by 18.3% during the 2nd quarter. Renaissance Technologies LLC now owns 3,729,314 shares of the company’s stock worth $199,518,000 after acquiring an additional 576,414 shares during the last quarter. Finally, Pacer Advisors Inc. increased its stake in shares of DocuSign by 77.9% in the second quarter. Pacer Advisors Inc. now owns 3,519,969 shares of the company’s stock worth $188,318,000 after buying an additional 1,541,816 shares during the period. Institutional investors own 77.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Royal Bank of Canada increased their price objective on shares of DocuSign from $52.00 to $57.00 and gave the company a “sector perform” rating in a research report on Friday, September 6th. Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a research note on Friday, September 6th. Bank of America increased their price objective on DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Wells Fargo & Company raised their target price on shares of DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a report on Friday, September 6th. Finally, Citigroup boosted their price target on DocuSign from $86.00 to $87.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, DocuSign currently has a consensus rating of “Hold” and a consensus target price of $63.40.

Check Out Our Latest Stock Analysis on DocuSign

About DocuSign

(Get Free Report)

DocuSign, Inc provides electronic signature solution in the United States and internationally. The company provides e-signature solution that enables sending and signing of agreements on various devices; Contract Lifecycle Management (CLM), which automates workflows across the entire agreement process; Document Generation streamlines the process of generating new, custom agreements; and Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce.

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