Insider Selling: DocuSign, Inc. (NASDAQ:DOCU) Insider Sells 7,500 Shares of Stock

DocuSign, Inc. (NASDAQ:DOCU) insider James P. Shaughnessy sold 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $81.31, for a total transaction of $609,825.00. Following the transaction, the insider now owns 45,875 shares in the company, valued at approximately $3,730,096.25. This trade represents a 14.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

DocuSign Trading Up 0.9 %

Shares of NASDAQ:DOCU traded up $0.71 during midday trading on Wednesday, hitting $83.40. 1,657,630 shares of the stock were exchanged, compared to its average volume of 2,687,199. The stock has a market cap of $16.89 billion, a P/E ratio of 17.20, a PEG ratio of 6.94 and a beta of 1.02. DocuSign, Inc. has a twelve month low of $48.70 and a twelve month high of $107.86. The company has a 50 day moving average price of $86.84 and a 200-day moving average price of $81.90.

DocuSign (NASDAQ:DOCU) last issued its quarterly earnings data on Thursday, March 13th. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.02. The firm 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%. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.76 EPS. On average, equities research analysts expect that DocuSign, Inc. will post 1.17 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have commented on DOCU shares. Citigroup lifted their price objective on shares of DocuSign from $113.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, March 14th. Wedbush reaffirmed a “neutral” rating and set a $100.00 price objective on shares of DocuSign in a research report on Friday, March 14th. Royal Bank of Canada reissued a “sector perform” rating and issued a $90.00 target price on shares of DocuSign in a report on Friday, March 14th. Robert W. Baird set a $93.00 price target on DocuSign in a report on Friday, March 14th. Finally, JPMorgan Chase & Co. raised shares of DocuSign from an “underweight” rating to a “neutral” rating and boosted their price objective for the company from $70.00 to $75.00 in a research note on Monday, March 10th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $95.83.

Institutional Trading of DocuSign

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DOCU. Kestra Investment Management LLC purchased a new stake in shares of DocuSign during the fourth quarter worth about $30,000. First Horizon Advisors Inc. grew its stake in DocuSign by 102.6% in the 4th quarter. First Horizon Advisors Inc. now owns 397 shares of the company’s stock worth $36,000 after acquiring an additional 201 shares during the period. Modus Advisors LLC acquired a new position in DocuSign in the 4th quarter valued at $36,000. Wood Tarver Financial Group LLC purchased a new position in shares of DocuSign during the 4th quarter worth $37,000. Finally, McIlrath & Eck LLC grew its position in shares of DocuSign by 476.0% in the fourth quarter. McIlrath & Eck LLC now owns 432 shares of the company’s stock valued at $39,000 after purchasing an additional 357 shares during the period. Hedge funds and other institutional investors own 77.64% of the company’s stock.

DocuSign Company Profile

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.