Docusign (NASDAQ:DOCU) Insider James Shaughnessy Sells 12,000 Shares of Company Stock

Docusign Inc. (NASDAQ:DOCU) insider James Shaughnessy sold 12,000 shares of Docusign stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $68.80, for a total transaction of $825,600.00. Following the transaction, the insider owned 50,591 shares of the company’s stock, valued at $3,480,660.80. This represents a 19.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Docusign Price Performance

Shares of NASDAQ:DOCU traded down $0.73 during midday trading on Friday, hitting $69.01. 1,848,041 shares of the company’s stock were exchanged, compared to its average volume of 3,319,626. Docusign Inc. has a 12 month low of $40.16 and a 12 month high of $75.00. The company has a market cap of $12.90 billion, a PE ratio of 42.08, a price-to-earnings-growth ratio of 2.58 and a beta of 0.86. The stock has a 50 day moving average price of $63.52 and a 200-day moving average price of $52.98.

Docusign (NASDAQ:DOCU) last announced its quarterly 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 net margin of 9.82% and a return on equity of 18.29%. The business had revenue of $875.75 million for the quarter, compared to analysts’ expectations of $867.22 million. During the same quarter last year, the firm earned $0.30 EPS. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. On average, analysts anticipate that Docusign Inc. will post 2.13 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on DOCU shares. Morgan Stanley raised their target price on Docusign from $69.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, September 4th. Royal Bank Of Canada upped their price target on Docusign from $55.00 to $70.00 and gave the stock a “sector perform” rating in a report on Friday, September 4th. Piper Sandler increased their price target on Docusign from $52.00 to $75.00 and gave the company a “neutral” rating in a research report on Friday, September 4th. Jefferies Financial Group raised their price objective on Docusign from $45.00 to $50.00 and gave the company a “hold” rating in a research note on Friday, June 5th. Finally, Wells Fargo & Company lifted their price objective on shares of Docusign from $55.00 to $60.00 and gave the stock an “equal weight” rating in a report 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 assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $67.33.

Institutional Trading of Docusign

A number of hedge funds have recently bought and sold shares of DOCU. Versant Capital Management Inc lifted its holdings in Docusign by 4.9% during the third quarter. Versant Capital Management Inc now owns 7,179 shares of the company’s stock worth $482,000 after acquiring an additional 335 shares during the period. Greenwich Wealth Management LLC grew its stake in Docusign by 30.0% in the 2nd quarter. Greenwich Wealth Management LLC now owns 120,835 shares of the company’s stock valued at $5,367,000 after purchasing an additional 27,855 shares during the period. QRG Capital Management Inc. increased its position in shares of Docusign by 31.2% during the 2nd quarter. QRG Capital Management Inc. now owns 11,132 shares of the company’s stock valued at $495,000 after purchasing an additional 2,645 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its position in shares of Docusign by 3.1% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 11,867 shares of the company’s stock valued at $527,000 after purchasing an additional 356 shares during the last quarter. Finally, Integrated Wealth Concepts LLC increased its position in shares of Docusign by 2.0% during the 2nd 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 during the last quarter. 77.64% of the stock is currently owned by institutional investors.

Docusign Company Profile

DocuSign, Inc (NASDAQ:DOCU) provides cloud-based software for electronically signing, managing and automating agreements. Its platform enables individuals and organizations to prepare, send, sign, track and store documents digitally, helping replace paper-based contracting processes.

The company’s offerings include electronic signature tools, contract lifecycle management, identity verification and authentication services, document generation, agreement analytics and related workflow automation capabilities.