DocuSign, Inc. (NASDAQ:DOCU) Insider Sells $609,825.00 in Stock

DocuSign, Inc. (NASDAQ:DOCU) insider James P. Shaughnessy sold 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $81.31, for a total transaction of $609,825.00. Following the completion of the sale, the insider now owns 45,875 shares in the company, valued at $3,730,096.25. The trade was a 14.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

DocuSign Stock Down 6.7 %

DOCU stock opened at $72.21 on Friday. The company has a market capitalization of $14.62 billion, a price-to-earnings ratio of 14.89, a P/E/G ratio of 6.94 and a beta of 1.20. The firm has a 50 day moving average of $86.02 and a two-hundred day moving average of $81.98. DocuSign, Inc. has a 12 month low of $48.70 and a 12 month high of $107.86.

DocuSign (NASDAQ:DOCU) last announced its quarterly earnings results on Thursday, March 13th. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.02. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The company had revenue of $776.25 million during the quarter, compared to analysts’ expectations of $760.94 million. During the same quarter in the previous year, the firm earned $0.76 earnings per share. The business’s quarterly revenue was up 9.0% compared to the same quarter last year. On average, research analysts expect that DocuSign, Inc. will post 1.17 EPS for the current fiscal year.

Analyst Ratings Changes

DOCU has been the topic of several recent research reports. Piper Sandler lifted their price target on shares of DocuSign from $60.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. HSBC restated a “reduce” rating on shares of DocuSign in a report on Friday, December 6th. Morgan Stanley upped their target price on DocuSign from $62.00 to $97.00 and gave the company an “equal weight” rating in a report on Friday, December 6th. Jefferies Financial Group dropped their price target on DocuSign from $115.00 to $105.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. Finally, UBS Group reduced their price objective on shares of DocuSign from $100.00 to $90.00 and set a “neutral” rating for the company in a research note on Friday, March 14th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, DocuSign currently has a consensus rating of “Hold” and a consensus target price of $95.83.

Institutional Trading of DocuSign

Several large investors have recently modified their holdings of DOCU. Toronto Dominion Bank grew its position in shares of DocuSign by 30.3% in the third quarter. Toronto Dominion Bank now owns 26,159 shares of the company’s stock valued at $1,624,000 after purchasing an additional 6,081 shares during the last quarter. Quantinno Capital Management LP grew its position in DocuSign by 39.5% in the 3rd quarter. Quantinno Capital Management LP now owns 201,546 shares of the company’s stock worth $12,514,000 after purchasing an additional 57,104 shares during the last quarter. Rhumbline Advisers raised its position in shares of DocuSign by 118.8% during the fourth quarter. Rhumbline Advisers now owns 608,123 shares of the company’s stock valued at $54,695,000 after buying an additional 330,136 shares during the last quarter. KBC Group NV grew its position in DocuSign by 32.7% during the fourth quarter. KBC Group NV now owns 1,535,107 shares of the company’s stock worth $138,067,000 after buying an additional 378,233 shares in the last quarter. Finally, Jennison Associates LLC bought a new position in DocuSign during the fourth quarter valued at about $12,897,000. 77.64% of the stock is owned by institutional investors.

About DocuSign

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.