Stephen Shute Sells 35,300 Shares of DocuSign, Inc. (NASDAQ:DOCU) Stock

DocuSign, Inc. (NASDAQ:DOCU) insider Stephen Shute sold 35,300 shares of the firm’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $52.87, for a total transaction of $1,866,311.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

DocuSign Stock Down 3.6 %

DocuSign stock traded down $1.92 during trading hours on Tuesday, hitting $51.91. 2,142,781 shares of the company traded hands, compared to its average volume of 2,949,321. The firm has a market cap of $10.63 billion, a P/E ratio of 99.83, a P/E/G ratio of 4.53 and a beta of 0.94. The firm’s 50-day simple moving average is $55.25 and its two-hundred day simple moving average is $56.45. DocuSign, Inc. has a 1-year low of $38.11 and a 1-year high of $64.76.

DocuSign (NASDAQ:DOCU) last released its earnings results on Thursday, June 6th. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.20 by $0.09. DocuSign had a net margin of 3.81% and a return on equity of 15.44%. The firm had revenue of $709.64 million for the quarter, compared to analysts’ expectations of $706.07 million. On average, equities research analysts predict that DocuSign, Inc. will post 0.88 earnings per share for the current year.

Hedge Funds Weigh In On DocuSign

Several large investors have recently made changes to their positions in DOCU. Massmutual Trust Co. FSB ADV boosted its position in shares of DocuSign by 5,000.0% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company’s stock valued at $27,000 after purchasing an additional 500 shares in the last quarter. Capital Analysts LLC boosted its holdings in shares of DocuSign by 781.7% in the fourth quarter. Capital Analysts LLC now owns 529 shares of the company’s stock worth $31,000 after buying an additional 469 shares during the period. Mather Group LLC. boosted its holdings in shares of DocuSign by 4,338.5% in the second quarter. Mather Group LLC. now owns 577 shares of the company’s stock worth $31,000 after buying an additional 564 shares during the period. McGlone Suttner Wealth Management Inc. acquired a new position in shares of DocuSign in the fourth quarter worth about $32,000. Finally, Register Financial Advisors LLC acquired a new position in shares of DocuSign in the first quarter worth about $37,000. Institutional investors own 77.64% of the company’s stock.

Wall Street Analysts Forecast Growth

DOCU has been the topic of a number of recent research reports. Piper Sandler reduced their price target on shares of DocuSign from $65.00 to $60.00 and set a “neutral” rating on the stock in a research report on Friday, June 7th. JMP Securities reaffirmed a “market outperform” rating and issued a $84.00 price objective on shares of DocuSign in a report on Friday, June 7th. Royal Bank of Canada dropped their price objective on shares of DocuSign from $59.00 to $52.00 and set a “sector perform” rating on the stock in a report on Friday, June 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a report on Friday, June 7th. Finally, Citigroup dropped their price objective on shares of DocuSign from $93.00 to $86.00 and set a “buy” rating on the stock in a report on Wednesday, June 5th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, DocuSign presently has a consensus rating of “Hold” and an average target price of $59.36.

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.