Insider Selling: Docusign (NASDAQ:DOCU) Insider Sells $825,600.00 in Stock

Docusign Inc. (NASDAQ:DOCU) insider James Shaughnessy sold 12,000 shares of the stock in a transaction that occurred on 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 in the company, valued at $3,480,660.80. This represents a 19.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Docusign Price Performance

Shares of DOCU opened at $69.01 on Monday. The firm has a 50 day simple moving average of $63.52 and a two-hundred day simple moving average of $53.02. Docusign Inc. has a one year low of $40.16 and a one year high of $75.00. The company has a market cap of $12.90 billion, a P/E ratio of 42.08, a P/E/G ratio of 2.56 and a beta of 0.86.

Docusign (NASDAQ:DOCU) last issued 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 return on equity of 18.29% and a net margin of 9.82%.The firm had revenue of $875.75 million for the quarter, compared to the consensus estimate of $867.22 million. During the same quarter last year, the business posted $0.30 EPS. The company’s revenue was up 9.4% compared to the same quarter last year. On average, analysts expect that Docusign Inc. will post 2.13 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have issued reports on DOCU shares. Weiss Ratings upgraded Docusign from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 25th. Citizens Jmp reissued a “market outperform” rating and issued a $86.00 target price on shares of Docusign in a report on Friday, September 4th. Wells Fargo & Company raised their price target on shares of Docusign from $55.00 to $60.00 and gave the company an “equal weight” rating in a research note on Friday, September 4th. Citigroup lifted their price target on shares of Docusign from $54.00 to $72.00 and gave the company a “neutral” rating in a report on Friday, September 4th. Finally, UBS Group upped their price objective on shares of Docusign from $54.00 to $70.00 and gave the stock a “neutral” rating in a research report on Friday, September 4th. Three investment 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. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $67.33.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in DOCU. Modus Advisors LLC acquired a new position in Docusign in the 4th quarter valued at approximately $27,000. WealthCollab LLC grew its stake 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 purchasing an additional 674 shares during the last quarter. Virtus Advisers LLC bought a new stake in shares of Docusign in the second quarter worth $47,000. Rakuten Securities Inc. acquired a new stake in Docusign in the second quarter valued at $49,000. Finally, Harbour Investments Inc. increased its holdings in 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 during the period. Institutional investors own 77.64% of the company’s stock.

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.