Insider Selling: Docusign (NASDAQ:DOCU) Insider Sells $546,480.00 in Stock

Docusign Inc. (NASDAQ:DOCU) insider James Shaughnessy sold 12,000 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $45.54, for a total transaction of $546,480.00. Following the sale, the insider owned 52,815 shares in the company, valued at approximately $2,405,195.10. The trade was a 18.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Docusign Price Performance

Shares of NASDAQ DOCU opened at $45.77 on Friday. Docusign Inc. has a twelve month low of $40.16 and a twelve month high of $86.65. The firm has a market cap of $8.74 billion, a P/E ratio of 29.72, a PEG ratio of 1.35 and a beta of 0.90. The company has a 50 day moving average of $46.86 and a 200 day moving average of $50.89.

Docusign (NASDAQ:DOCU) last issued its earnings results on Thursday, June 4th. The company reported $1.09 EPS for the quarter, beating the consensus estimate of $0.99 by $0.10. The business had revenue of $830.24 million for the quarter, compared to the consensus estimate of $824.71 million. Docusign had a return on equity of 17.48% and a net margin of 9.59%.The company’s revenue was up 8.7% compared to the same quarter last year. During the same period last year, the business posted $0.90 EPS. As a group, equities analysts expect that Docusign Inc. will post 2.03 earnings per share for the current fiscal year.

Docusign declared that its Board of Directors has initiated a share repurchase plan on Tuesday, March 17th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 21% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

DOCU has been the subject of several research analyst reports. Jefferies Financial Group lifted their price objective on Docusign from $45.00 to $50.00 and gave the stock a “hold” rating in a report on Friday, June 5th. Piper Sandler lowered their target price on shares of Docusign from $75.00 to $52.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 18th. Royal Bank Of Canada dropped their price target on shares of Docusign from $70.00 to $55.00 and set a “sector perform” rating on the stock in a report on Wednesday, March 18th. UBS Group set a $60.00 price target on shares of Docusign in a research note on Friday, June 5th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Docusign from $78.00 to $65.00 and set a “neutral” rating for the company in a report on Wednesday, March 18th. Three research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Docusign has a consensus rating of “Hold” and a consensus price target of $60.27.

Institutional Trading of Docusign

A number of hedge funds have recently bought and sold shares of DOCU. NewEdge Advisors LLC boosted its position in Docusign by 36.4% in the first quarter. NewEdge Advisors LLC now owns 9,202 shares of the company’s stock worth $749,000 after purchasing an additional 2,457 shares during the last quarter. Guggenheim Capital LLC increased its position in shares of Docusign by 6.7% during the 2nd quarter. Guggenheim Capital LLC now owns 11,543 shares of the company’s stock valued at $899,000 after purchasing an additional 729 shares during the last quarter. State Street Corp increased its position in shares of Docusign by 3.0% during the 2nd quarter. State Street Corp now owns 8,074,976 shares of the company’s stock valued at $628,960,000 after purchasing an additional 236,494 shares during the last quarter. Sei Investments Co. lifted its stake in shares of Docusign by 60.7% in the 2nd quarter. Sei Investments Co. now owns 40,386 shares of the company’s stock worth $3,146,000 after purchasing an additional 15,247 shares during the period. Finally, Treasurer of the State of North Carolina lifted its stake in shares of Docusign by 51.0% in the 2nd quarter. Treasurer of the State of North Carolina now owns 189,178 shares of the company’s stock worth $14,735,000 after purchasing an additional 63,911 shares during the period. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Docusign Company Profile

DocuSign, Inc (NASDAQ: DOCU) is a leading provider of electronic signature and digital transaction management solutions. The company’s flagship offering, DocuSign eSignature, enables organizations to send, sign and manage legally binding electronic agreements securely in the cloud. Beyond eSignature, DocuSign’s Agreement Cloud combines contract lifecycle management, document generation, and workflow automation to streamline agreement processes from initiation through execution and storage.

DocuSign’s platform serves a diverse customer base spanning industries such as finance, real estate, healthcare, technology, and government.