Peter Solvik Sells 46,000 Shares of Docusign (NASDAQ:DOCU) Stock

Docusign Inc. (NASDAQ:DOCU) Director Peter Solvik sold 46,000 shares of the stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $65.24, for a total value of $3,001,040.00. Following the sale, the director owned 49,558 shares of the company’s stock, valued at approximately $3,233,163.92. This represents a 48.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Docusign Stock Down 0.2%

Shares of Docusign stock traded down $0.15 during trading on Friday, reaching $65.65. The company’s stock had a trading volume of 2,192,850 shares, compared to its average volume of 3,265,542. Docusign Inc. has a 1-year low of $40.16 and a 1-year high of $86.65. The company has a 50-day simple moving average of $57.75 and a two-hundred day simple moving average of $50.61. The company has a market cap of $12.27 billion, a price-to-earnings ratio of 40.03, a P/E/G ratio of 2.48 and a beta of 0.90.

Docusign (NASDAQ:DOCU) last announced its earnings results on Thursday, September 3rd. The company reported $1.16 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $867.22 million. During the same period in the prior year, the company posted $0.30 EPS. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. As a group, analysts anticipate that Docusign Inc. will post 2.1 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Piper Sandler increased their price objective on shares of Docusign from $52.00 to $75.00 and gave the company a “neutral” rating in a research report on Friday, September 4th. Citigroup raised their price target on shares of Docusign from $54.00 to $72.00 and gave the stock a “neutral” rating in a report on Friday, September 4th. Royal Bank Of Canada boosted their price objective on shares of Docusign from $55.00 to $70.00 and gave the company a “sector perform” rating in a report on Friday, September 4th. Citizens Jmp reissued a “market outperform” rating and issued a $86.00 target price on shares of Docusign in a research report on Friday, September 4th. Finally, UBS Group lifted their price target on Docusign from $54.00 to $70.00 and gave the stock a “neutral” rating in a research report on Friday, September 4th. Three research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $67.33.

Institutional Trading of Docusign

A number of hedge funds and other institutional investors have recently made changes to their positions in DOCU. Integrated Wealth Concepts LLC raised its holdings in shares of Docusign by 2.0% during the second quarter. Integrated Wealth Concepts LLC now owns 14,359 shares of the company’s stock worth $638,000 after purchasing an additional 277 shares during the last quarter. NewEdge Advisors LLC lifted its position in Docusign by 29.8% during the second quarter. NewEdge Advisors LLC now owns 14,311 shares of the company’s stock valued at $636,000 after purchasing an additional 3,287 shares during the period. IFP Advisors Inc boosted its holdings in Docusign by 38.9% in the second quarter. IFP Advisors Inc now owns 3,923 shares of the company’s stock valued at $174,000 after purchasing an additional 1,098 shares during the last quarter. Baird Financial Group Inc. boosted its holdings in Docusign by 3.0% in the second quarter. Baird Financial Group Inc. now owns 119,634 shares of the company’s stock valued at $5,314,000 after purchasing an additional 3,538 shares during the last quarter. Finally, Waverly Advisors LLC grew its position in Docusign by 99.7% during the 2nd quarter. Waverly Advisors LLC now owns 8,528 shares of the company’s stock worth $379,000 after purchasing an additional 4,257 shares during the period. Institutional investors and hedge funds own 77.64% of the company’s stock.

About Docusign

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.