Docusign (NASDAQ:DOCU) CRO Sells $273,240.00 in Stock

Docusign Inc. (NASDAQ:DOCU) CRO Paula Hansen sold 6,000 shares of the company’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $45.54, for a total transaction of $273,240.00. Following the completion of the sale, the executive directly owned 89,972 shares of the company’s stock, valued at $4,097,324.88. The trade was a 6.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Docusign Price Performance

NASDAQ DOCU opened at $45.77 on Friday. Docusign Inc. has a 52-week low of $40.16 and a 52-week high of $86.65. The business’s 50-day moving average price is $46.86 and its 200 day moving average price is $50.89. The firm has a market cap of $8.74 billion, a P/E ratio of 29.72, a P/E/G ratio of 1.35 and a beta of 0.90.

Docusign (NASDAQ:DOCU) last posted its quarterly earnings data on Thursday, June 4th. The company reported $1.09 EPS for the quarter, beating the consensus estimate of $0.99 by $0.10. Docusign had a return on equity of 17.48% and a net margin of 9.59%.The firm had revenue of $830.24 million during the quarter, compared to the consensus estimate of $824.71 million. During the same period in the prior year, the business earned $0.90 EPS. The firm’s revenue was up 8.7% compared to the same quarter last year. As a group, analysts anticipate that Docusign Inc. will post 2.03 earnings per share for the current year.

Docusign announced that its board has approved a stock buyback program on Tuesday, March 17th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the company to reacquire 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 shares are undervalued.

Analyst Upgrades and Downgrades

DOCU has been the topic of a number of analyst reports. Bank of America began coverage on shares of Docusign in a research report on Tuesday, March 31st. They issued an “underperform” rating and a $52.00 price objective on the stock. Needham & Company LLC restated a “hold” rating on shares of Docusign in a research report on Friday, June 5th. Wedbush reduced their target price on shares of Docusign from $60.00 to $58.00 and set a “neutral” rating for the company in a research note on Friday, June 5th. Jefferies Financial Group lifted their target price on shares of Docusign from $45.00 to $50.00 and gave the company a “hold” rating in a report on Friday, June 5th. Finally, Citigroup boosted their price target on shares of Docusign from $50.00 to $54.00 and gave the stock a “neutral” rating in a research note on Friday, June 5th. Three research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $60.27.

Institutional Trading of Docusign

Institutional investors have recently modified their holdings of the business. State Street Corp grew its holdings in Docusign by 0.9% during the fourth quarter. State Street Corp now owns 8,193,805 shares of the company’s stock worth $560,456,000 after acquiring an additional 77,008 shares during the period. Capital World Investors lifted its holdings in Docusign by 38.1% in the fourth quarter. Capital World Investors now owns 5,815,804 shares of the company’s stock valued at $397,801,000 after acquiring an additional 1,603,900 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in shares of Docusign by 76.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 5,285,128 shares of the company’s stock worth $250,568,000 after purchasing an additional 2,283,996 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Docusign by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 4,084,463 shares of the company’s stock worth $278,665,000 after purchasing an additional 18,873 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Docusign by 8.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,343,613 shares of the company’s stock valued at $228,703,000 after purchasing an additional 251,639 shares in the last quarter. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

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.