DocuSign, Inc. (NASDAQ:DOCU) Insider Sells $1,306,582.14 in Stock

DocuSign, Inc. (NASDAQ:DOCU) insider Robert Chatwani sold 15,706 shares of the firm’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $83.19, for a total transaction of $1,306,582.14. Following the completion of the transaction, the insider now directly owns 76,842 shares of the company’s stock, valued at approximately $6,392,485.98. This trade represents a 16.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

DocuSign Stock Performance

Shares of NASDAQ:DOCU opened at $88.06 on Friday. DocuSign, Inc. has a 52-week low of $48.70 and a 52-week high of $107.86. The firm has a fifty day moving average of $87.54 and a 200 day moving average of $80.15. The firm has a market capitalization of $17.79 billion, a PE ratio of 18.16, a price-to-earnings-growth ratio of 6.94 and a beta of 1.02.

DocuSign (NASDAQ:DOCU) last announced its earnings results on Thursday, March 13th. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.02. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. The company had revenue of $776.25 million during the quarter, compared to analyst estimates of $760.94 million. During the same period in the previous year, the business earned $0.76 earnings per share. The firm’s quarterly revenue was up 9.0% compared to the same quarter last year. On average, sell-side analysts forecast that DocuSign, Inc. will post 1.17 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on DOCU. Robert W. Baird set a $93.00 price objective on shares of DocuSign in a report on Friday, March 14th. Wedbush reaffirmed a “neutral” rating and issued a $100.00 price objective on shares of DocuSign in a report on Friday, March 14th. Bank of America cut their price target on shares of DocuSign from $112.00 to $98.00 and set a “neutral” rating for the company in a report on Friday, March 14th. Citigroup raised their price target on shares of DocuSign from $113.00 to $115.00 and gave the company a “buy” rating in a report on Friday, March 14th. Finally, JMP Securities reissued a “market outperform” rating and issued a $124.00 price target on shares of DocuSign in a report on Tuesday, January 7th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $95.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Kestra Investment Management LLC bought a new stake in DocuSign in the fourth quarter worth $30,000. First Horizon Advisors Inc. lifted its stake in DocuSign by 102.6% in the fourth quarter. First Horizon Advisors Inc. now owns 397 shares of the company’s stock worth $36,000 after purchasing an additional 201 shares during the last quarter. Modus Advisors LLC bought a new stake in DocuSign in the fourth quarter worth $36,000. Wood Tarver Financial Group LLC bought a new stake in DocuSign in the fourth quarter worth $37,000. Finally, McIlrath & Eck LLC lifted its stake in DocuSign by 476.0% in the fourth quarter. McIlrath & Eck LLC now owns 432 shares of the company’s stock worth $39,000 after purchasing an additional 357 shares during the last quarter. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

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.