Insider Selling: Docusign (NASDAQ:DOCU) Director Sells 450 Shares of Stock

Docusign Inc. (NASDAQ:DOCU) Director James Beer sold 450 shares of the stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $64.02, for a total transaction of $28,809.00. Following the completion of the transaction, the director owned 14,586 shares of the company’s stock, valued at $933,795.72. This represents a 2.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Docusign Stock Up 0.3%

Shares of NASDAQ DOCU traded up $0.20 during midday trading on Friday, hitting $64.00. The company had a trading volume of 3,771,389 shares, compared to its average volume of 4,112,477. Docusign Inc. has a twelve month low of $40.16 and a twelve month high of $86.65. The business has a 50-day simple moving average of $53.03 and a two-hundred day simple moving average of $49.04. The firm has a market capitalization of $12.22 billion, a price-to-earnings ratio of 41.56, a price-to-earnings-growth ratio of 1.72 and a beta of 0.87.

Docusign (NASDAQ:DOCU) last released its quarterly earnings data on Thursday, June 4th. The company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.10. Docusign had a net margin of 9.59% and a return on equity of 17.48%. The firm had revenue of $830.24 million for the quarter, compared to the consensus estimate of $824.71 million. During the same quarter in the previous year, the firm earned $0.90 earnings per share. The firm’s revenue was up 8.7% on a year-over-year basis. On average, equities analysts forecast that Docusign Inc. will post 2.06 EPS for the current year.

Institutional Trading of Docusign

Several large investors have recently modified their holdings of the business. NewEdge Advisors LLC lifted its stake in Docusign by 36.4% in the 1st quarter. NewEdge Advisors LLC now owns 9,202 shares of the company’s stock valued at $749,000 after buying an additional 2,457 shares in the last quarter. Guggenheim Capital LLC increased its position in Docusign by 6.7% during the second quarter. Guggenheim Capital LLC now owns 11,543 shares of the company’s stock worth $899,000 after buying an additional 729 shares in the last quarter. State Street Corp raised its holdings in shares of Docusign by 3.0% in the second quarter. State Street Corp now owns 8,074,976 shares of the company’s stock worth $628,960,000 after acquiring an additional 236,494 shares during the last quarter. Sei Investments Co. raised its holdings in shares of Docusign by 60.7% in the second quarter. Sei Investments Co. now owns 40,386 shares of the company’s stock worth $3,146,000 after acquiring an additional 15,247 shares during the last quarter. Finally, Treasurer of the State of North Carolina lifted its position in shares of Docusign by 51.0% in the second quarter. Treasurer of the State of North Carolina now owns 189,178 shares of the company’s stock valued at $14,735,000 after acquiring an additional 63,911 shares in the last quarter. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on DOCU shares. Wells Fargo & Company lowered their price target on Docusign from $60.00 to $55.00 and set an “equal weight” rating on the stock in a report on Friday, June 5th. Citizens Jmp reaffirmed a “market outperform” rating and set a $86.00 price objective on shares of Docusign in a report on Tuesday, August 18th. BTIG Research decreased their target price on Docusign from $70.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, June 5th. Needham & Company LLC reissued a “hold” rating on shares of Docusign in a report on Friday, June 5th. Finally, UBS Group set a $60.00 price target on Docusign in a research report on Friday, June 5th. Four equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $60.27.

Docusign Company Profile

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.