Insider Selling: DocuSign, Inc. (NASDAQ:DOCU) CFO Sells $1,340,435.20 in Stock

DocuSign, Inc. (NASDAQ:DOCU) CFO Blake Jeffrey Grayson sold 16,111 shares of the business’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $83.20, for a total transaction of $1,340,435.20. Following the sale, the chief financial officer now owns 93,960 shares in the company, valued at $7,817,472. This trade represents a 14.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Friday, February 14th, Blake Jeffrey Grayson sold 8,000 shares of DocuSign stock. The shares were sold at an average price of $86.90, for a total transaction of $695,200.00.

DocuSign Trading Up 3.5 %

DOCU stock opened at $88.06 on Friday. The stock has a market cap of $17.79 billion, a P/E ratio of 18.16, 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’s 50 day moving average is $87.54 and its two-hundred day moving average is $80.31.

DocuSign (NASDAQ:DOCU) last announced its quarterly earnings results on Thursday, March 13th. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.84 by $0.02. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. The firm had revenue of $776.25 million for the quarter, compared to analyst estimates of $760.94 million. During the same period last year, the business earned $0.76 EPS. DocuSign’s revenue for the quarter was up 9.0% compared to the same quarter last year. On average, equities research analysts predict that DocuSign, Inc. will post 1.17 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have commented on DOCU shares. Piper Sandler raised their price target on shares of DocuSign from $60.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Robert W. Baird set a $93.00 target price on DocuSign in a report on Friday, March 14th. Jefferies Financial Group upped their price target on DocuSign from $80.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Hsbc Global Res upgraded DocuSign to a “moderate sell” rating in a research note on Friday, December 6th. Finally, Wedbush reissued a “neutral” rating and set a $100.00 price objective on shares of DocuSign in a research report on Friday, March 14th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $95.00.

Institutional Trading of DocuSign

Institutional investors and hedge funds have recently made changes to their positions in the company. Itau Unibanco Holding S.A. acquired a new position in DocuSign during the third quarter worth approximately $28,000. Kestra Investment Management LLC acquired a new stake in shares of DocuSign in the fourth quarter valued at approximately $30,000. Brooklyn Investment Group purchased a new position in shares of DocuSign during the third quarter worth approximately $33,000. Modus Advisors LLC acquired a new position in shares of DocuSign in the 4th quarter valued at $36,000. Finally, First Horizon Advisors Inc. raised its position in DocuSign by 102.6% in the 4th quarter. First Horizon Advisors Inc. now owns 397 shares of the company’s stock valued at $36,000 after purchasing an additional 201 shares during the last quarter. 77.64% of the stock is owned by hedge funds and other institutional investors.

About DocuSign

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.