Docusign (NASDAQ:DOCU) Insider Sells $561,960.00 in Stock

Docusign Inc. (NASDAQ:DOCU) insider James Shaughnessy sold 12,000 shares of Docusign stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $46.83, for a total value of $561,960.00. Following the sale, the insider directly owned 53,631 shares in the company, valued at $2,511,539.73. The trade was a 18.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Docusign Stock Performance

Shares of DOCU stock traded up $0.20 during trading hours on Thursday, hitting $48.37. The company had a trading volume of 3,274,561 shares, compared to its average volume of 5,001,379. Docusign Inc. has a 12 month low of $40.16 and a 12 month high of $94.67. The firm’s fifty day moving average is $47.77 and its 200 day moving average is $62.17. The firm has a market capitalization of $9.40 billion, a price-to-earnings ratio of 32.68, a PEG ratio of 1.93 and a beta of 1.03.

Docusign (NASDAQ:DOCU) last posted its earnings results on Tuesday, March 17th. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.95 by $0.06. The business had revenue of $836.86 million during the quarter, compared to the consensus estimate of $828.23 million. Docusign had a return on equity of 16.86% and a net margin of 9.60%.Docusign’s revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the company earned $0.86 EPS. On average, sell-side analysts expect that Docusign Inc. will post 1.17 EPS for the current fiscal year.

Docusign declared that its board has initiated a stock repurchase program on Tuesday, March 17th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 21% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

DOCU has been the topic of several analyst reports. Wells Fargo & Company lowered their target price on shares of Docusign from $75.00 to $60.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 18th. BTIG Research reissued a “buy” rating and set a $70.00 price target on shares of Docusign in a report on Wednesday, March 18th. Royal Bank Of Canada reduced their price target on shares of Docusign from $70.00 to $55.00 and set a “sector perform” rating on the stock in a research report on Wednesday, March 18th. HSBC set a $53.00 price objective on shares of Docusign in a research note on Friday, February 13th. Finally, UBS Group cut their target price on shares of Docusign from $75.00 to $54.00 and set a “neutral” rating for the company in a research note on Wednesday, March 18th. Five research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $64.67.

Institutional Trading of Docusign

Hedge funds and other institutional investors have recently modified their holdings of the stock. Central Pacific Bank Trust Division bought a new position in Docusign in the 4th quarter worth approximately $25,000. Modus Advisors LLC bought a new position in Docusign in the 4th quarter valued at $27,000. Torren Management LLC bought a new position in Docusign in the 4th quarter valued at $28,000. Aventura Private Wealth LLC acquired a new stake in shares of Docusign in the 4th quarter valued at $30,000. Finally, True Wealth Design LLC increased its stake in shares of Docusign by 105.2% in the 4th quarter. True Wealth Design LLC now owns 433 shares of the company’s stock valued at $30,000 after buying an additional 222 shares during the period. Institutional investors and hedge funds 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.