Insider Selling: DocuSign, Inc. (NASDAQ:DOCU) Director Sells 534 Shares of Stock

DocuSign, Inc. (NASDAQ:DOCU) Director Teresa Briggs sold 534 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $56.56, for a total transaction of $30,203.04. Following the sale, the director now owns 7,202 shares of the company’s stock, valued at $407,345.12. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

DocuSign Trading Down 1.9 %

DocuSign stock traded down $1.07 during trading on Tuesday, reaching $55.69. The company had a trading volume of 1,838,181 shares, compared to its average volume of 2,686,174. The firm’s 50-day simple moving average is $55.63 and its 200 day simple moving average is $56.11. DocuSign, Inc. has a 52 week low of $38.11 and a 52 week high of $64.76. The firm has a market capitalization of $11.40 billion, a price-to-earnings ratio of 107.21, a price-to-earnings-growth ratio of 5.99 and a beta of 0.93.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings data on Thursday, September 5th. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.17. The firm had revenue of $736.03 million for the quarter, compared to analysts’ expectations of $727.20 million. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. The business’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.09 EPS. On average, analysts predict that DocuSign, Inc. will post 0.99 earnings per share for the current year.

Hedge Funds Weigh In On DocuSign

A number of hedge funds have recently modified their holdings of the company. Massmutual Trust Co. FSB ADV lifted its stake in shares of DocuSign by 5,000.0% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company’s stock valued at $27,000 after buying an additional 500 shares in the last quarter. Mather Group LLC. lifted its position in shares of DocuSign by 4,338.5% in the second quarter. Mather Group LLC. now owns 577 shares of the company’s stock valued at $31,000 after acquiring an additional 564 shares in the last quarter. Register Financial Advisors LLC bought a new position in shares of DocuSign in the first quarter worth about $37,000. ICA Group Wealth Management LLC purchased a new stake in shares of DocuSign during the fourth quarter worth about $39,000. Finally, nVerses Capital LLC bought a new stake in DocuSign during the 2nd quarter valued at approximately $48,000. 77.64% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on DOCU. Robert W. Baird boosted their price objective on shares of DocuSign from $55.00 to $59.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Bank of America boosted their target price on DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Wells Fargo & Company raised their price target on shares of DocuSign from $48.00 to $50.00 and gave the company an “underweight” rating in a report on Friday, September 6th. Royal Bank of Canada boosted their price objective on shares of DocuSign from $52.00 to $57.00 and gave the company a “sector perform” rating in a report on Friday, September 6th. Finally, Citigroup raised their target price on shares of DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $61.45.

DocuSign Company Profile

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.