Insider Selling: Docusign (NASDAQ:DOCU) Insider Sells $1,018,661.16 in Stock

Docusign Inc. (NASDAQ:DOCU) insider Robert Chatwani sold 14,676 shares of Docusign stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $69.41, for a total transaction of $1,018,661.16. Following the completion of the transaction, the insider owned 75,928 shares in the company, valued at approximately $5,270,162.48. The trade was a 16.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Docusign Trading Up 4.1%

DOCU opened at $69.49 on Thursday. Docusign Inc. has a 12 month low of $40.16 and a 12 month high of $85.84. The business’s 50-day moving average price is $61.09 and its 200-day moving average price is $52.02. The company has a market cap of $12.99 billion, a P/E ratio of 42.37, a P/E/G ratio of 2.51 and a beta of 0.90.

Docusign (NASDAQ:DOCU) last issued its earnings results on Thursday, September 3rd. The company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.07. Docusign had a return on equity of 18.29% and a net margin of 9.82%.The company had revenue of $875.75 million during the quarter, compared to analysts’ expectations of $867.22 million. During the same period in the prior year, the business posted $0.30 EPS. Docusign’s quarterly revenue was up 9.4% compared to the same quarter last year. Equities research analysts forecast that Docusign Inc. will post 2.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Docusign

Institutional investors and hedge funds have recently modified their holdings of the stock. Tred Avon Family Wealth LLC grew its position in shares of Docusign by 3.6% during the 1st quarter. Tred Avon Family Wealth LLC now owns 6,176 shares of the company’s stock valued at $293,000 after acquiring an additional 215 shares during the period. First Citizens Bank & Trust Co. raised its holdings in Docusign by 2.1% in the 1st quarter. First Citizens Bank & Trust Co. now owns 11,745 shares of the company’s stock worth $557,000 after purchasing an additional 239 shares during the period. PNC Financial Services Group Inc. lifted its position in Docusign by 4.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 6,789 shares of the company’s stock valued at $464,000 after purchasing an additional 267 shares in the last quarter. Integrated Wealth Concepts LLC lifted its position in Docusign by 2.0% during the second quarter. Integrated Wealth Concepts LLC now owns 14,359 shares of the company’s stock valued at $638,000 after purchasing an additional 277 shares in the last quarter. Finally, Harbour Investments Inc. grew its holdings in Docusign by 56.6% during the fourth quarter. Harbour Investments Inc. now owns 797 shares of the company’s stock valued at $55,000 after purchasing an additional 288 shares during the period. 77.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on DOCU shares. Bank of America raised their target price on shares of Docusign from $58.00 to $64.00 and gave the stock an “underperform” rating in a report on Friday, September 4th. Weiss Ratings raised shares of Docusign from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 25th. Wall Street Zen lowered shares of Docusign from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 2nd. Morgan Stanley boosted their price objective on shares of Docusign from $69.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday, September 4th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Docusign in a research note on Friday, September 4th. Three equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Docusign currently has a consensus rating of “Hold” and an average price target of $67.33.

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.