Docusign (NASDAQ:DOCU) CFO Blake Jeffrey Grayson Sells 15,000 Shares

Docusign Inc. (NASDAQ:DOCU) CFO Blake Grayson sold 15,000 shares of Docusign stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $65.57, for a total transaction of $983,550.00. Following the completion of the sale, the chief financial officer owned 81,429 shares of the company’s stock, valued at $5,339,299.53. This trade represents a 15.56% 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.

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

• On Friday, September 4th, Blake Grayson sold 30,000 shares of Docusign stock. The shares were sold at an average price of $70.00, for a total transaction of $2,100,000.00.
• On Friday, August 7th, Blake Grayson sold 15,000 shares of Docusign stock. The stock was sold at an average price of $60.00, for a total transaction of $900,000.00.
• On Wednesday, July 1st, Blake Grayson sold 15,000 shares of Docusign stock. The stock was sold at an average price of $45.55, for a total transaction of $683,250.00.

Docusign Trading Down 4.9%

NASDAQ:DOCU opened at $65.08 on Wednesday. The company has a market capitalization of $12.43 billion, a P/E ratio of 39.68, a PEG ratio of 2.43 and a beta of 0.90. Docusign Inc. has a 12 month low of $40.16 and a 12 month high of $86.65. The firm has a fifty day simple moving average of $56.58 and a 200-day simple moving average of $50.21.

Docusign (NASDAQ:DOCU) last released its earnings results on Thursday, September 3rd. The company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.07. The firm had revenue of $875.75 million for the quarter, compared to the consensus estimate of $867.22 million. Docusign had a return on equity of 18.29% and a net margin of 9.82%.The firm’s revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.30 EPS. Equities analysts forecast that Docusign Inc. will post 2.03 EPS for the current year.

Hedge Funds Weigh In On Docusign

A number of institutional investors have recently modified their holdings of DOCU. Modus Advisors LLC acquired a new position in shares of Docusign in the 4th quarter valued at about $27,000. Cary Street Partners Investment Advisory LLC grew its holdings in Docusign by 309.5% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 561 shares of the company’s stock worth $38,000 after acquiring an additional 424 shares during the period. Basepoint Wealth LLC purchased a new position in Docusign during the fourth quarter valued at approximately $39,000. WealthCollab LLC lifted its holdings in Docusign by 372.4% in the first quarter. WealthCollab LLC now owns 855 shares of the company’s stock valued at $41,000 after acquiring an additional 674 shares during the period. Finally, Virtus Advisers LLC acquired a new position in Docusign in the second quarter valued at approximately $47,000. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on DOCU shares. Evercore set a $65.00 price objective on Docusign in a report on Friday. Piper Sandler lifted their target price on Docusign from $52.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday. Citigroup upped their target price on Docusign from $54.00 to $72.00 and gave the company a “neutral” rating in a research report on Friday. Wedbush cut their price target on shares of Docusign from $60.00 to $58.00 and set a “neutral” rating on the stock in a report on Friday, June 5th. Finally, Weiss Ratings raised shares of Docusign from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 25th. Three research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $67.33.

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.