Docusign (NASDAQ:DOCU) Releases Earnings Results, Misses Estimates By $0.13 EPS

Docusign (NASDAQ:DOCU) announced its earnings results on Thursday. The company reported $0.79 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.13), FiscalAI reports. The company had revenue of $818.35 million for the quarter, compared to analyst estimates of $807.20 million. Docusign had a return on equity of 14.01% and a net margin of 9.08%.

Docusign Price Performance

Docusign stock traded up $0.48 during mid-day trading on Thursday, reaching $71.10. The stock had a trading volume of 5,679,786 shares, compared to its average volume of 2,698,032. The company has a market capitalization of $14.30 billion, a price-to-earnings ratio of 53.46, a PEG ratio of 3.42 and a beta of 0.98. Docusign has a one year low of $63.50 and a one year high of $107.86. The company has a 50-day moving average price of $70.01 and a two-hundred day moving average price of $75.48.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on DOCU. Citigroup increased their target price on Docusign from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, September 4th. Evercore ISI raised their target price on Docusign from $90.00 to $92.00 and gave the company an “in-line” rating in a research report on Friday, September 5th. Needham & Company LLC reissued a “hold” rating on shares of Docusign in a report on Friday, September 5th. Morgan Stanley boosted their price target on shares of Docusign from $86.00 to $90.00 and gave the company an “equal weight” rating in a research report on Monday, September 8th. Finally, Wells Fargo & Company lifted their target price on Docusign from $80.00 to $85.00 and gave the company an “equal weight” rating in a report on Friday, September 5th. Four investment analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $94.14.

Insider Buying and Selling at Docusign

In other news, CFO Blake Jeffrey Grayson sold 9,509 shares of Docusign stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $83.10, for a total value of $790,197.90. Following the sale, the chief financial officer directly owned 112,160 shares of the company’s stock, valued at approximately $9,320,496. The trade was a 7.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Peter Solvik sold 15,000 shares of the business’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $81.48, for a total transaction of $1,222,200.00. Following the completion of the sale, the director owned 135,253 shares in the company, valued at approximately $11,020,414.44. This trade represents a 9.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 103,713 shares of company stock worth $7,791,047. 1.01% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in DOCU. Rakuten Securities Inc. raised its holdings in Docusign by 1,637.5% in the 2nd quarter. Rakuten Securities Inc. now owns 973 shares of the company’s stock worth $76,000 after purchasing an additional 917 shares during the period. Canada Pension Plan Investment Board acquired a new position in Docusign during the second quarter worth about $125,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Docusign by 76.6% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,105 shares of the company’s stock valued at $164,000 after purchasing an additional 913 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Docusign by 8.2% during the 2nd quarter. Smartleaf Asset Management LLC now owns 2,169 shares of the company’s stock worth $166,000 after acquiring an additional 165 shares during the period. Finally, Geneos Wealth Management Inc. raised its stake in Docusign by 28.5% during the second quarter. Geneos Wealth Management Inc. now owns 2,415 shares of the company’s stock worth $188,000 after purchasing an additional 536 shares during the period. 77.64% of the stock is currently owned by institutional investors.

About Docusign

DocuSign, Inc provides electronic signature solution in the United States and internationally. The company provides e-signature solution that enables sending and signing of agreements on various devices; Contract Lifecycle Management (CLM), which automates workflows across the entire agreement process; Document Generation streamlines the process of generating new, custom agreements; and Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce.