Insider Selling: DocuSign, Inc. (NASDAQ:DOCU) Insider Sells 14,799 Shares of Stock

DocuSign, Inc. (NASDAQ:DOCU) insider Robert Chatwani sold 14,799 shares of the stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $55.46, for a total transaction of $820,752.54. Following the completion of the sale, the insider now owns 70,748 shares of the company’s stock, valued at approximately $3,923,684.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Robert Chatwani also recently made the following trade(s):

• On Monday, June 24th, Robert Chatwani sold 14,799 shares of DocuSign stock. The stock was sold at an average price of $52.17, for a total value of $772,063.83.

DocuSign Stock Up 1.7 %

Shares of DOCU stock traded up $0.95 on Wednesday, reaching $56.64. The company had a trading volume of 2,379,565 shares, compared to its average volume of 2,684,469. The business’s 50-day moving average is $55.76 and its 200 day moving average is $56.13. The stock has a market capitalization of $11.60 billion, a PE ratio of 108.92, a price-to-earnings-growth ratio of 5.99 and a beta of 0.93. DocuSign, Inc. has a one year low of $38.11 and a one year high of $64.76.

DocuSign (NASDAQ:DOCU) last released its quarterly earnings results on Thursday, September 5th. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.17. The company had revenue of $736.03 million for the quarter, compared to analysts’ expectations of $727.20 million. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.09 earnings per share. On average, sell-side analysts forecast that DocuSign, Inc. will post 0.99 earnings per share for the current fiscal year.

Hedge Funds Weigh In On DocuSign

A number of hedge funds have recently made changes to their positions in DOCU. Massmutual Trust Co. FSB ADV grew its holdings in DocuSign by 5,000.0% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company’s stock worth $27,000 after acquiring an additional 500 shares during the period. Mather Group LLC. increased its position in DocuSign by 4,338.5% in the 2nd quarter. Mather Group LLC. now owns 577 shares of the company’s stock valued at $31,000 after buying an additional 564 shares in the last quarter. Register Financial Advisors LLC bought a new stake in DocuSign in the 1st quarter valued at about $37,000. ICA Group Wealth Management LLC bought a new position in DocuSign in the fourth quarter worth approximately $39,000. Finally, nVerses Capital LLC bought a new position in DocuSign in the second quarter worth approximately $48,000. 77.64% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

DOCU has been the subject of a number of research reports. Robert W. Baird raised their target price on shares of DocuSign from $55.00 to $59.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Wells Fargo & Company boosted their price objective on DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a report on Friday, September 6th. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a research note on Friday, September 6th. Morgan Stanley lowered their price objective on DocuSign from $65.00 to $62.00 and set an “equal weight” rating on the stock in a research note on Friday, June 7th. Finally, Citigroup increased their price objective on shares of DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $61.45.

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.