Insider Selling: DocuSign, Inc. (NASDAQ:DOCU) CFO Sells 8,000 Shares of Stock

DocuSign, Inc. (NASDAQ:DOCU) CFO Blake Jeffrey Grayson sold 8,000 shares of the stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $76.09, for a total value of $608,720.00. Following the completion of the sale, the chief financial officer now directly owns 86,156 shares of the company’s stock, valued at approximately $6,555,610.04. The trade was a 8.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

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

• On Wednesday, March 19th, Blake Jeffrey Grayson sold 16,111 shares of DocuSign stock. The shares were sold at an average price of $83.20, for a total transaction of $1,340,435.20.
• On Friday, February 14th, Blake Jeffrey Grayson sold 8,000 shares of DocuSign stock. The stock was sold at an average price of $86.90, for a total transaction of $695,200.00.

DocuSign Trading Down 1.4 %

DocuSign stock opened at $76.39 on Thursday. The firm has a market capitalization of $15.47 billion, a price-to-earnings ratio of 15.75, a price-to-earnings-growth ratio of 6.94 and a beta of 1.20. The firm’s fifty day moving average price is $81.91 and its two-hundred day moving average price is $82.91. DocuSign, Inc. has a 1-year low of $48.70 and a 1-year high of $107.86.

DocuSign (NASDAQ:DOCU) last released its quarterly earnings results on Thursday, March 13th. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.02. The business had revenue of $776.25 million during the quarter, compared to the consensus estimate of $760.94 million. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The company’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.76 EPS. On average, research analysts forecast that DocuSign, Inc. will post 1.17 EPS for the current year.

Hedge Funds Weigh In On DocuSign

Several large investors have recently bought and sold shares of the stock. Rhumbline Advisers lifted its position in shares of DocuSign by 118.8% during the fourth quarter. Rhumbline Advisers now owns 608,123 shares of the company’s stock valued at $54,695,000 after purchasing an additional 330,136 shares in the last quarter. KBC Group NV boosted its stake in shares of DocuSign by 32.7% in the 4th quarter. KBC Group NV now owns 1,535,107 shares of the company’s stock worth $138,067,000 after buying an additional 378,233 shares during the last quarter. Jennison Associates LLC bought a new position in shares of DocuSign in the fourth quarter valued at approximately $12,897,000. Everence Capital Management Inc. purchased a new stake in shares of DocuSign during the fourth quarter valued at approximately $720,000. Finally, Principal Financial Group Inc. lifted its holdings in DocuSign by 3,026.7% during the fourth quarter. Principal Financial Group Inc. now owns 546,796 shares of the company’s stock worth $49,179,000 after acquiring an additional 529,308 shares during the period. 77.64% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Bank of America decreased their price objective on shares of DocuSign from $112.00 to $98.00 and set a “neutral” rating for the company in a research report on Friday, March 14th. Robert W. Baird set a $93.00 price objective on DocuSign in a research report on Friday, March 14th. Citigroup upped their target price on DocuSign from $113.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, March 14th. JPMorgan Chase & Co. upgraded DocuSign from an “underweight” rating to a “neutral” rating and lifted their target price for the stock from $70.00 to $75.00 in a report on Monday, March 10th. Finally, Jefferies Financial Group dropped their price target on DocuSign from $115.00 to $105.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $93.46.

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.