Insider Selling: Docusign (NASDAQ:DOCU) CFO Sells $900,000.00 in Stock

Docusign Inc. (NASDAQ:DOCU) CFO Blake Jeffrey Grayson sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $60.00, for a total value of $900,000.00. Following the completion of the transaction, the chief financial officer owned 126,429 shares in the company, valued at $7,585,740. This represents a 10.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Blake Jeffrey Grayson also recently made the following trade(s):

• On Wednesday, July 1st, Blake Jeffrey Grayson sold 15,000 shares of Docusign stock. The stock was sold at an average price of $45.55, for a total value of $683,250.00.

Docusign Price Performance

Shares of DOCU stock opened at $64.09 on Friday. Docusign Inc. has a 1-year low of $40.16 and a 1-year high of $86.65. The company has a 50-day moving average of $49.69 and a two-hundred day moving average of $48.33. The firm has a market cap of $12.24 billion, a PE ratio of 41.62, a price-to-earnings-growth ratio of 1.71 and a beta of 0.87.

Docusign (NASDAQ:DOCU) last released its quarterly earnings results on Thursday, June 4th. The company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.10. The company had revenue of $830.24 million for the quarter, compared to analysts’ expectations of $824.71 million. Docusign had a return on equity of 17.48% and a net margin of 9.59%.The firm’s revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.90 earnings per share. Sell-side analysts anticipate that Docusign Inc. will post 2.03 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on DOCU shares. Needham & Company LLC reiterated a “hold” rating on shares of Docusign in a research note on Friday, June 5th. UBS Group set a $60.00 target price on Docusign in a research report on Friday, June 5th. BTIG Research decreased their price target on shares of Docusign from $70.00 to $60.00 and set a “buy” rating for the company in a research note on Friday, June 5th. Wall Street Zen lowered Docusign from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 2nd. Finally, Weiss Ratings raised shares of Docusign from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, July 14th. Three analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $60.27.

Institutional Trading of Docusign

Institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. acquired a new stake in Docusign during the 2nd quarter valued at $927,059,000. State Street Corp increased its position in Docusign by 0.9% during the fourth quarter. State Street Corp now owns 8,193,805 shares of the company’s stock worth $560,456,000 after purchasing an additional 77,008 shares during the last quarter. Capital World Investors raised its position in shares of Docusign by 38.1% in the 4th quarter. Capital World Investors now owns 5,815,804 shares of the company’s stock worth $397,801,000 after buying an additional 1,603,900 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in shares of Docusign by 76.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 5,285,128 shares of the company’s stock valued at $250,568,000 after purchasing an additional 2,283,996 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Docusign by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 4,084,463 shares of the company’s stock valued at $278,665,000 after buying an additional 18,873 shares in the last quarter. 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.