Docusign (NASDAQ:DOCU) Director James Beer Sells 450 Shares

Docusign Inc. (NASDAQ:DOCU) Director James Beer sold 450 shares of the firm’s stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $64.02, for a total transaction of $28,809.00. Following the completion of the transaction, the director directly owned 14,586 shares of the company’s stock, valued at $933,795.72. This represents a 2.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Docusign Stock Up 0.3%

NASDAQ:DOCU opened at $64.00 on Friday. The company has a fifty day simple moving average of $53.44 and a two-hundred day simple moving average of $49.15. The company has a market cap of $12.22 billion, a price-to-earnings ratio of 41.56, a price-to-earnings-growth ratio of 1.85 and a beta of 0.87. Docusign Inc. has a 52 week low of $40.16 and a 52 week high of $86.65.

Docusign (NASDAQ:DOCU) last released its earnings results on Thursday, June 4th. The company reported $1.09 EPS for the quarter, topping the consensus estimate of $0.99 by $0.10. Docusign had a return on equity of 17.48% and a net margin of 9.59%.The firm had revenue of $830.24 million during the quarter, compared to analysts’ expectations of $824.71 million. During the same period in the previous year, the firm posted $0.90 EPS. Docusign’s revenue for the quarter was up 8.7% on a year-over-year basis. On average, analysts expect that Docusign Inc. will post 2.06 EPS for the current year.

Hedge Funds Weigh In On Docusign

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

Docusign News Summary

Here are the key news stories impacting Docusign this week:

• Positive Sentiment: Analysts at Zacks said DocuSign’s upcoming earnings report could benefit from factors supporting a potential earnings beat. The articles encourage investors to monitor earnings expectations ahead of the scheduled quarterly announcement. DocuSign Earnings Expected to Grow
• Positive Sentiment: Recent trading strength across several software stocks, including DocuSign, provided a favorable sector backdrop and helped support investor sentiment toward DOCU. Software Stocks Trade Up
• Neutral Sentiment: DocuSign’s ARR guidance is expected to receive increased attention from Bank of America. Investors will likely scrutinize recurring-revenue growth and management’s outlook because ARR is a key indicator of future subscription performance. DocuSign ARR Guidance
• Neutral Sentiment: Comparisons with Autodesk (NASDAQ: ADSK) frame DocuSign as a potential value opportunity within internet software, but the analysis does not represent a new company catalyst. DOCU Versus ADSK
• Negative Sentiment: Director James A. Beer sold 450 shares worth approximately $28,809. The transaction reduced his holdings by 2.99%, but it was made under a pre-arranged Rule 10b5-1 trading plan and represents only a small portion of his remaining stake, limiting its significance as a bearish signal. DocuSign Director Stock Sale Filing

Wall Street Analyst Weigh In

DOCU has been the subject of a number of recent analyst reports. Weiss Ratings raised Docusign from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday. Citigroup reissued a “market outperform” rating on shares of Docusign in a research report on Tuesday, August 18th. Needham & Company LLC restated a “hold” rating on shares of Docusign in a research note on Friday, June 5th. Wedbush lowered their price target on Docusign from $60.00 to $58.00 and set a “neutral” rating for the company in a report on Friday, June 5th. Finally, BTIG Research dropped their price target on shares of Docusign from $70.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday, June 5th. Four investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $60.27.

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.