Teresa Briggs Sells 534 Shares of DocuSign, Inc. (NASDAQ:DOCU) Stock

DocuSign, Inc. (NASDAQ:DOCU) Director Teresa Briggs sold 534 shares of the firm’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $87.41, for a total value of $46,676.94. Following the completion of the sale, the director now directly owns 8,270 shares of the company’s stock, valued at approximately $722,880.70. This trade represents a 6.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

DocuSign Price Performance

NASDAQ:DOCU opened at $83.43 on Tuesday. The firm has a market cap of $16.85 billion, a PE ratio of 17.20, a P/E/G ratio of 6.94 and a beta of 1.02. The firm has a 50 day simple moving average of $87.82 and a 200-day simple moving average of $79.69. DocuSign, Inc. has a 1-year low of $48.70 and a 1-year high of $107.86.

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

Institutional Trading of DocuSign

Hedge funds have recently added to or reduced their stakes in the business. FMR LLC lifted its holdings in shares of DocuSign by 178.2% during the 4th quarter. FMR LLC now owns 6,101,024 shares of the company’s stock worth $548,726,000 after acquiring an additional 3,908,139 shares during the period. State Street Corp boosted its holdings in shares of DocuSign by 2.3% in the 3rd quarter. State Street Corp now owns 5,372,939 shares of the company’s stock valued at $333,604,000 after purchasing an additional 120,743 shares during the last quarter. American Century Companies Inc. grew its stake in shares of DocuSign by 18.5% during the 4th quarter. American Century Companies Inc. now owns 5,315,459 shares of the company’s stock valued at $478,072,000 after buying an additional 831,611 shares during the period. Jericho Capital Asset Management L.P. increased its holdings in shares of DocuSign by 34.0% during the 4th quarter. Jericho Capital Asset Management L.P. now owns 4,754,753 shares of the company’s stock worth $427,642,000 after buying an additional 1,205,500 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of DocuSign by 4.9% in the 4th quarter. Renaissance Technologies LLC now owns 4,363,292 shares of the company’s stock worth $392,434,000 after buying an additional 205,304 shares during the period. 77.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DOCU has been the subject of several recent analyst reports. Bank of America reduced their price objective on shares of DocuSign from $112.00 to $98.00 and set a “neutral” rating for the company in a research note on Friday. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a report on Friday. Robert W. Baird lifted their price objective on DocuSign from $59.00 to $100.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Wedbush reiterated a “neutral” rating and set a $100.00 target price on shares of DocuSign in a research report on Friday. Finally, JMP Securities restated a “market outperform” rating and issued a $124.00 price target on shares of DocuSign in a research report on Tuesday, January 7th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $95.58.

About DocuSign

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.