Teresa Briggs Sells 548 Shares of Docusign (NASDAQ:DOCU) Stock

Docusign Inc. (NASDAQ:DOCU) Director Teresa Briggs sold 548 shares of Docusign stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $64.60, for a total transaction of $35,400.80. Following the transaction, the director directly owned 10,811 shares in the company, valued at approximately $698,390.60. This trade represents a 4.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Docusign Trading Down 0.2%

DOCU traded down $0.15 during trading on Friday, hitting $65.65. 2,192,850 shares of the company’s stock were exchanged, compared to its average volume of 3,265,542. Docusign Inc. has a 1 year low of $40.16 and a 1 year high of $86.65. The stock has a 50 day moving average price of $57.75 and a 200 day moving average price of $50.61. The firm has a market cap of $12.27 billion, a P/E ratio of 40.03, a price-to-earnings-growth ratio of 2.48 and a beta of 0.90.

Docusign (NASDAQ:DOCU) last issued its earnings results on Thursday, September 3rd. The company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.07. The business had revenue of $875.75 million for the quarter, compared to the consensus estimate of $867.22 million. Docusign had a net margin of 9.82% and a return on equity of 18.29%. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.30 EPS. Analysts forecast that Docusign Inc. will post 2.1 earnings per share for the current fiscal year.

Institutional Trading of Docusign

Large investors have recently modified their holdings of the business. BlackRock Inc. purchased a new stake in shares of Docusign during the second quarter worth about $927,059,000. California State Teachers Retirement System boosted its holdings in Docusign by 4,016.6% in the second quarter. California State Teachers Retirement System now owns 9,960,652 shares of the company’s stock valued at $442,452,000 after purchasing an additional 9,718,686 shares during the last quarter. Norges Bank acquired a new stake in Docusign during the 4th quarter valued at approximately $186,795,000. Arrowstreet Capital Limited Partnership grew its stake in Docusign by 76.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 5,285,128 shares of the company’s stock valued at $250,568,000 after purchasing an additional 2,283,996 shares in the last quarter. Finally, Capital World Investors increased its holdings in Docusign by 38.1% during the 4th quarter. Capital World Investors now owns 5,815,804 shares of the company’s stock worth $397,801,000 after purchasing an additional 1,603,900 shares during the last quarter. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DOCU has been the topic of a number of recent research reports. Citigroup boosted their price objective on Docusign from $54.00 to $72.00 and gave the stock a “neutral” rating in a research note on Friday, September 4th. Royal Bank Of Canada increased their target price on Docusign from $55.00 to $70.00 and gave the company a “sector perform” rating in a research note on Friday, September 4th. Wall Street Zen downgraded Docusign from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 2nd. BTIG Research boosted their price target on Docusign from $60.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, September 2nd. Finally, Morgan Stanley upped their price target on Docusign from $69.00 to $75.00 and gave the stock an “equal weight” rating in a 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’s stock. According to MarketBeat, Docusign presently has a consensus rating of “Hold” and an average price target of $67.33.

About Docusign

DocuSign, Inc is a provider of digital agreement management and electronic signature solutions. Its platform enables individuals and organizations to prepare, send, sign, manage and store agreements electronically, helping businesses replace paper-based contracting processes with digital workflows.

The company’s products and services include DocuSign eSignature, which supports electronic signing and authentication, as well as tools for contract lifecycle management, agreement preparation, identity verification, notarial services and workflow automation.