Insider Selling: Docusign (NASDAQ:DOCU) CFO Sells 15,000 Shares

Docusign Inc. (NASDAQ:DOCU) CFO Blake Jeffrey Grayson sold 15,000 shares of the stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $60.00, for a total value of $900,000.00. Following the transaction, the chief financial officer owned 126,429 shares in the company, valued at $7,585,740. This trade represents a 10.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, July 1st, Blake Jeffrey Grayson sold 15,000 shares of Docusign stock. The shares were sold at an average price of $45.55, for a total value of $683,250.00.

Docusign Stock Performance

NASDAQ:DOCU traded down $0.30 during mid-day trading on Tuesday, reaching $59.34. The stock had a trading volume of 1,764,578 shares, compared to its average volume of 4,205,418. The firm has a 50 day moving average price of $49.23 and a two-hundred day moving average price of $48.26. The stock has a market capitalization of $11.33 billion, a P/E ratio of 38.53, a P/E/G ratio of 1.78 and a beta of 0.87. Docusign Inc. has a one year low of $40.16 and a one year high of $86.65.

Docusign (NASDAQ:DOCU) last issued its quarterly earnings results on Thursday, June 4th. The company reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.10. The business had revenue of $830.24 million for the quarter, compared to analysts’ expectations of $824.71 million. Docusign had a net margin of 9.59% and a return on equity of 17.48%. The business’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period last year, the business earned $0.90 earnings per share. Research analysts forecast that Docusign Inc. will post 2.03 earnings per share for the current year.

Analyst Upgrades and Downgrades

DOCU has been the topic of several recent research reports. Wall Street Zen lowered shares of Docusign from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 2nd. Jefferies Financial Group boosted their price target on shares of Docusign from $45.00 to $50.00 and gave the stock a “hold” rating in a research note on Friday, June 5th. UBS Group set a $60.00 price objective on Docusign in a research note on Friday, June 5th. Citigroup lifted their price objective on Docusign from $50.00 to $54.00 and gave the stock a “neutral” rating in a report on Friday, June 5th. Finally, Wedbush lowered their target price on Docusign from $60.00 to $58.00 and set a “neutral” rating for the company in a research note on Friday, June 5th. Three equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $60.27.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Green Alpha Advisors LLC purchased a new stake in Docusign during the 2nd quarter valued at $431,000. Allworth Financial LP purchased a new position in shares of Docusign in the second quarter valued at about $462,000. Virtus Advisers LLC purchased a new position in shares of Docusign in the second quarter valued at about $47,000. Vise Technologies Inc. bought a new position in shares of Docusign during the second quarter valued at about $443,000. Finally, BOK Financial Private Wealth Inc. bought a new position in shares of Docusign during the second quarter valued at about $72,000. Institutional investors 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.