Insider Selling: Docusign (NASDAQ:DOCU) Director Sells 548 Shares

Docusign Inc. (NASDAQ:DOCU) Director Teresa Briggs sold 548 shares of the firm’s stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $64.60, for a total transaction of $35,400.80. Following the sale, the director directly owned 10,811 shares in the company, valued at $698,390.60. This represents a 4.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Docusign Stock Down 0.2%

Shares of NASDAQ:DOCU traded down $0.15 during trading on Friday, reaching $65.65. The stock had a trading volume of 2,192,850 shares, compared to its average volume of 3,265,542. The business has a fifty day moving average price of $57.75 and a 200-day moving average price of $50.61. The stock has a market cap of $12.27 billion, a P/E ratio of 40.03, a PEG ratio of 2.48 and a beta of 0.90. Docusign Inc. has a fifty-two week low of $40.16 and a fifty-two week high of $86.65.

Docusign (NASDAQ:DOCU) last announced its earnings results on Thursday, September 3rd. The company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.07. The firm had revenue of $875.75 million for the quarter, compared to analyst estimates of $867.22 million. Docusign had a net margin of 9.82% and a return on equity of 18.29%. Docusign’s revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.30 earnings per share. As a group, equities analysts forecast that Docusign Inc. will post 2.1 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on DOCU shares. Wedbush lowered their price objective on Docusign from $60.00 to $58.00 and set a “neutral” rating for the company in a research report on Friday, June 5th. Wall Street Zen lowered Docusign from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 2nd. UBS Group lifted their price target on Docusign from $54.00 to $70.00 and gave the company a “neutral” rating in a report on Friday, September 4th. Wells Fargo & Company upped their price objective on shares of Docusign from $55.00 to $60.00 and gave the company an “equal weight” rating in a research note on Friday, September 4th. Finally, Citizens Jmp reiterated a “market outperform” rating and set a $86.00 price objective on shares of Docusign in a report on Friday, September 4th. Three research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $67.33.

Institutional Trading of Docusign

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Modus Advisors LLC purchased a new stake in Docusign during the fourth quarter valued at about $27,000. Cary Street Partners Investment Advisory LLC increased its stake 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 last quarter. Basepoint Wealth LLC purchased a new position in shares of Docusign in the 4th quarter worth about $39,000. Harbour Investments Inc. raised its holdings in shares of Docusign by 56.6% in the 4th quarter. Harbour Investments Inc. now owns 797 shares of the company’s stock worth $55,000 after purchasing an additional 288 shares during the period. Finally, CIBC Private Wealth Group LLC lifted its stake in shares of Docusign by 116.8% in the 4th quarter. CIBC Private Wealth Group LLC now owns 854 shares of the company’s stock valued at $58,000 after purchasing an additional 460 shares in the last quarter. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Docusign Company Profile

DocuSign, Inc is a provider of digital agreement management and electronic signature solutions. Its platform enables individuals and organizations to prepare, send, sign, manage and store agreements electronically, helping businesses replace paper-based contracting processes with digital workflows.

The company’s products and services include DocuSign eSignature, which supports electronic signing and authentication, as well as tools for contract lifecycle management, agreement preparation, identity verification, notarial services and workflow automation.