Paula Hansen Sells 6,000 Shares of Docusign (NASDAQ:DOCU) Stock

Docusign Inc. (NASDAQ:DOCU) CRO Paula Hansen sold 6,000 shares of Docusign stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $46.84, for a total transaction of $281,040.00. Following the completion of the sale, the executive owned 79,233 shares of the company’s stock, valued at $3,711,273.72. This trade represents a 7.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Paula Hansen also recently made the following trade(s):

• On Friday, January 2nd, Paula Hansen sold 6,000 shares of Docusign stock. The stock was sold at an average price of $67.05, for a total transaction of $402,300.00.

Docusign Price Performance

Docusign stock traded up $0.20 during mid-day trading on Thursday, reaching $48.37. 3,274,561 shares of the company traded hands, compared to its average volume of 5,001,379. The firm’s fifty day moving average is $47.77 and its two-hundred day moving average is $62.17. The company has a market capitalization of $9.40 billion, a price-to-earnings ratio of 32.68, a price-to-earnings-growth ratio of 1.93 and a beta of 1.03. Docusign Inc. has a fifty-two week low of $40.16 and a fifty-two week high of $94.67.

Docusign (NASDAQ:DOCU) last announced its quarterly earnings data on Tuesday, March 17th. The company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.06. Docusign had a net margin of 9.60% and a return on equity of 16.86%. The firm had revenue of $836.86 million for the quarter, compared to analyst estimates of $828.23 million. During the same period in the previous year, the company earned $0.86 earnings per share. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. As a group, equities research analysts predict that Docusign Inc. will post 1.17 earnings per share for the current year.

Docusign announced that its Board of Directors has approved a share buyback program on Tuesday, March 17th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the company to reacquire up to 21% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

Several brokerages have recently issued reports on DOCU. Robert W. Baird reduced their price objective on Docusign from $75.00 to $55.00 and set a “neutral” rating for the company in a research note on Wednesday, March 18th. Citigroup dropped their target price on Docusign from $120.00 to $99.00 and set a “buy” rating on the stock in a research report on Wednesday, March 18th. Wedbush cut their price target on shares of Docusign from $85.00 to $75.00 and set a “neutral” rating on the stock in a report on Friday, December 5th. Needham & Company LLC restated a “hold” rating on shares of Docusign in a research note on Tuesday, March 10th. Finally, Citizens Jmp dropped their price objective on shares of Docusign from $124.00 to $86.00 and set a “market outperform” rating on the stock in a report on Wednesday, March 18th. Five equities research analysts have rated the stock with a Buy rating, fifteen have issued 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 an average price target of $64.67.

Hedge Funds Weigh In On Docusign

Several institutional investors and hedge funds have recently modified their holdings of DOCU. Central Pacific Bank Trust Division purchased a new stake in shares of Docusign in the fourth quarter worth about $25,000. Modus Advisors LLC purchased a new position in Docusign during the fourth quarter valued at approximately $27,000. Torren Management LLC acquired a new position in Docusign in the fourth quarter valued at approximately $28,000. Aventura Private Wealth LLC acquired a new position in Docusign in the fourth quarter valued at approximately $30,000. Finally, True Wealth Design LLC boosted its position in Docusign by 105.2% in the 4th quarter. True Wealth Design LLC now owns 433 shares of the company’s stock worth $30,000 after purchasing an additional 222 shares in the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.

About Docusign

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.