Docusign (NASDAQ:DOCU) Director Sells $77,377.60 in Stock

Docusign Inc. (NASDAQ:DOCU) Director Mary Wilderotter sold 1,096 shares of the stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $70.60, for a total transaction of $77,377.60. Following the completion of the sale, the director directly owned 3,199 shares in the company, valued at approximately $225,849.40. This represents a 25.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Docusign Trading Down 2.2%

DOCU stock opened at $69.07 on Friday. Docusign Inc. has a 12 month low of $40.16 and a 12 month high of $86.27. The company has a 50-day moving average price of $60.00 and a 200 day moving average price of $51.54. The stock has a market cap of $12.91 billion, a PE ratio of 42.12, a P/E/G ratio of 2.66 and a beta of 0.90.

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

Analysts Set New Price Targets

A number of brokerages have recently issued reports on DOCU. Needham & Company LLC reissued a “hold” rating on shares of Docusign in a research note on Friday, September 4th. UBS Group raised their target price on shares of Docusign from $54.00 to $70.00 and gave the stock a “neutral” rating in a research report on Friday, September 4th. Jefferies Financial Group lifted their target price on Docusign from $45.00 to $50.00 and gave the company a “hold” rating in a research report on Friday, June 5th. BTIG Research raised their price target on Docusign from $60.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, September 2nd. Finally, Royal Bank Of Canada upped their price objective on shares of Docusign from $55.00 to $70.00 and gave the stock a “sector perform” rating in a research note on Friday, September 4th. Three research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $67.33.

Institutional Investors Weigh In On Docusign

Several institutional investors have recently added to or reduced their stakes in DOCU. BlackRock Inc. acquired a new position in Docusign during the 2nd quarter valued at approximately $927,059,000. Norges Bank purchased a new stake in shares of Docusign during the fourth quarter valued at $186,795,000. Arrowstreet Capital Limited Partnership grew its holdings in shares of Docusign by 76.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 5,285,128 shares of the company’s stock valued at $250,568,000 after buying an additional 2,283,996 shares during the last quarter. Capital World Investors increased its position in shares of Docusign by 38.1% in the 4th 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. Finally, Bank of New York Mellon Corp acquired a new position in shares of Docusign in the 2nd quarter valued at $56,219,000. Institutional investors and hedge funds own 77.64% of the company’s stock.

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.