Docusign (NASDAQ:DOCU) CFO Sells $2,100,000.00 in Stock

Docusign Inc. (NASDAQ:DOCU) CFO Blake Grayson sold 30,000 shares of the business’s stock in a transaction on Friday, September 4th. The shares were sold at an average price of $70.00, for a total transaction of $2,100,000.00. Following the transaction, the chief financial officer owned 96,429 shares in the company, valued at $6,750,030. The trade was a 23.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 Tuesday, September 8th, Blake Grayson sold 15,000 shares of Docusign stock. The stock was sold at an average price of $65.57, for a total value of $983,550.00.
• On Friday, August 7th, Blake Grayson sold 15,000 shares of Docusign stock. The shares were sold at an average price of $60.00, for a total transaction of $900,000.00.
• On Wednesday, July 1st, Blake Grayson sold 15,000 shares of Docusign stock. The shares were sold at an average price of $45.55, for a total transaction of $683,250.00.

Docusign Trading Down 4.9%

Shares of NASDAQ:DOCU traded down $3.33 during mid-day trading on Tuesday, hitting $65.08. 4,133,500 shares of the company traded hands, compared to its average volume of 3,220,546. The stock has a 50-day moving average price of $56.58 and a two-hundred day moving average price of $50.21. Docusign Inc. has a 12-month low of $40.16 and a 12-month high of $86.65. The stock has a market cap of $12.43 billion, a P/E ratio of 39.68, a P/E/G ratio of 2.43 and a beta of 0.90.

Docusign (NASDAQ:DOCU) last announced its earnings results on Thursday, September 3rd. The company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.07. The firm had revenue of $875.75 million for the quarter, compared to the consensus estimate of $867.22 million. Docusign had a return on equity of 18.29% and a net margin of 9.82%.The company’s revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.30 EPS. As a group, analysts expect that Docusign Inc. will post 2.03 earnings per share for the current year.

Analysts Set New Price Targets

DOCU has been the topic of a number of recent research reports. BTIG Research increased their price objective on Docusign from $60.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, September 2nd. Wells Fargo & Company upped their price target on Docusign from $55.00 to $60.00 and gave the company an “equal weight” rating in a research report on Friday. Royal Bank Of Canada increased their price target on shares of Docusign from $55.00 to $70.00 and gave the stock a “sector perform” rating in a report on Friday. Bank of America raised their price objective on shares of Docusign from $58.00 to $64.00 and gave the company an “underperform” rating in a research report on Friday. Finally, Robert W. Baird boosted their price objective on shares of Docusign from $55.00 to $72.00 and gave the company a “neutral” rating in a research note on Friday. Three equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $67.33.

Hedge Funds Weigh In On Docusign

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Modus Advisors LLC bought a new stake in Docusign in the fourth quarter worth $27,000. Cary Street Partners Investment Advisory LLC increased its holdings in shares of Docusign by 309.5% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 561 shares of the company’s stock valued at $38,000 after acquiring an additional 424 shares in the last quarter. Basepoint Wealth LLC purchased a new position in shares of Docusign in the 4th quarter worth about $39,000. Harbour Investments Inc. boosted its stake in Docusign by 56.6% in the 4th quarter. Harbour Investments Inc. now owns 797 shares of the company’s stock worth $55,000 after purchasing an additional 288 shares in the last quarter. Finally, CIBC Private Wealth Group LLC boosted its stake in Docusign by 116.8% in the 4th quarter. CIBC Private Wealth Group LLC now owns 854 shares of the company’s stock worth $58,000 after purchasing an additional 460 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.