Insider Selling: Docusign (NASDAQ:DOCU) Director Sells $3,001,040.00 in Stock

Docusign Inc. (NASDAQ:DOCU) Director Peter Solvik sold 46,000 shares of the firm’s stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $65.24, for a total value of $3,001,040.00. Following the sale, the director directly owned 49,558 shares in the company, valued at approximately $3,233,163.92. This trade represents a 48.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Docusign Price Performance

DOCU stock traded down $0.15 during trading on Friday, hitting $65.65. 2,192,850 shares of the company traded hands, 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 company has a market cap of $12.27 billion, a PE ratio of 40.03, a P/E/G ratio of 2.48 and a beta of 0.90. The stock’s 50-day simple moving average is $57.75 and its 200 day simple moving average is $50.61.

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

Analysts Set New Price Targets

Several analysts recently commented on DOCU shares. BTIG Research raised their price target on shares of Docusign from $60.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, September 2nd. Wall Street Zen cut Docusign from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 2nd. Citizens Jmp reiterated a “market outperform” rating and set a $86.00 price target on shares of Docusign in a research report on Friday, September 4th. Bank of America boosted their price objective on Docusign from $58.00 to $64.00 and gave the company an “underperform” rating in a research report on Friday, September 4th. Finally, Wells Fargo & Company increased their target price on Docusign from $55.00 to $60.00 and gave the company an “equal weight” rating in a research report on Friday, September 4th. Three research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $67.33.

Hedge Funds Weigh In On Docusign

Hedge funds have recently made changes to their positions in the company. Integrated Wealth Concepts LLC lifted its position in shares of Docusign by 2.0% in the second quarter. Integrated Wealth Concepts LLC now owns 14,359 shares of the company’s stock valued at $638,000 after acquiring an additional 277 shares in the last quarter. NewEdge Advisors LLC increased its position in shares of Docusign by 29.8% during the second quarter. NewEdge Advisors LLC now owns 14,311 shares of the company’s stock worth $636,000 after purchasing an additional 3,287 shares in the last quarter. IFP Advisors Inc raised its stake in Docusign by 38.9% in the 2nd quarter. IFP Advisors Inc now owns 3,923 shares of the company’s stock valued at $174,000 after purchasing an additional 1,098 shares during the last quarter. Baird Financial Group Inc. raised its stake in Docusign by 3.0% in the 2nd quarter. Baird Financial Group Inc. now owns 119,634 shares of the company’s stock valued at $5,314,000 after purchasing an additional 3,538 shares during the last quarter. Finally, Waverly Advisors LLC lifted its holdings in Docusign by 99.7% in the 2nd quarter. Waverly Advisors LLC now owns 8,528 shares of the company’s stock valued at $379,000 after purchasing an additional 4,257 shares in the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.

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.