Insider Selling: DocuSign, Inc. (NASDAQ:DOCU) Director Sells $46,676.94 in Stock

DocuSign, Inc. (NASDAQ:DOCU) Director Teresa Briggs sold 534 shares of DocuSign stock in a transaction on Monday, March 17th. The stock was sold at an average price of $87.41, for a total transaction of $46,676.94. Following the completion of the sale, the director now owns 8,270 shares of the company’s stock, valued at approximately $722,880.70. This trade represents a 6.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

DocuSign Stock Performance

Shares of DOCU opened at $85.61 on Thursday. DocuSign, Inc. has a 1 year low of $48.70 and a 1 year high of $107.86. The company has a market cap of $17.30 billion, a price-to-earnings ratio of 17.65, a price-to-earnings-growth ratio of 6.94 and a beta of 1.02. The firm has a fifty day moving average of $87.67 and a 200-day moving average of $79.91.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings data on Thursday, March 13th. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.02. The business had revenue of $776.25 million during the quarter, compared to the consensus estimate of $760.94 million. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.76 earnings per share. Analysts predict that DocuSign, Inc. will post 1.17 EPS for the current year.

Institutional Investors Weigh In On DocuSign

Several institutional investors have recently bought and sold shares of the stock. FMR LLC lifted its holdings in DocuSign by 178.2% in the fourth quarter. FMR LLC now owns 6,101,024 shares of the company’s stock worth $548,726,000 after purchasing an additional 3,908,139 shares during the period. State Street Corp lifted its holdings in DocuSign by 2.3% in the third quarter. State Street Corp now owns 5,372,939 shares of the company’s stock worth $333,604,000 after purchasing an additional 120,743 shares during the period. American Century Companies Inc. lifted its holdings in DocuSign by 18.5% in the fourth quarter. American Century Companies Inc. now owns 5,315,459 shares of the company’s stock worth $478,072,000 after purchasing an additional 831,611 shares during the period. Jericho Capital Asset Management L.P. lifted its holdings in DocuSign by 34.0% in the fourth quarter. Jericho Capital Asset Management L.P. now owns 4,754,753 shares of the company’s stock worth $427,642,000 after purchasing an additional 1,205,500 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in DocuSign by 4.9% in the 4th quarter. Renaissance Technologies LLC now owns 4,363,292 shares of the company’s stock valued at $392,434,000 after acquiring an additional 205,304 shares during the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.

Analyst Upgrades and Downgrades

DOCU has been the subject of a number of research analyst reports. Citigroup lifted their price target on shares of DocuSign from $113.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, March 14th. Piper Sandler boosted their target price on shares of DocuSign from $60.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. JPMorgan Chase & Co. upgraded shares of DocuSign from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $70.00 to $75.00 in a research note on Monday, March 10th. Wedbush reiterated a “neutral” rating and set a $100.00 target price on shares of DocuSign in a research note on Friday, March 14th. Finally, Jefferies Financial Group boosted their target price on shares of DocuSign from $80.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $95.00.

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.