Teresa Briggs Sells 534 Shares of DocuSign, Inc. (NASDAQ:DOCU) Stock

DocuSign, Inc. (NASDAQ:DOCU) Director Teresa Briggs sold 534 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $56.56, for a total transaction of $30,203.04. Following the completion of the transaction, the director now directly owns 7,202 shares of the company’s stock, valued at $407,345.12. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

DocuSign Stock Up 1.7 %

Shares of NASDAQ:DOCU opened at $56.64 on Thursday. The company has a market cap of $11.60 billion, a PE ratio of 108.92, a P/E/G ratio of 5.99 and a beta of 0.93. DocuSign, Inc. has a fifty-two week low of $38.11 and a fifty-two week high of $64.76. The firm has a 50-day simple moving average of $55.76 and a 200 day simple moving average of $56.13.

DocuSign (NASDAQ:DOCU) last announced its quarterly earnings results on Thursday, September 5th. The company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.17. The business 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% on a year-over-year basis. During the same period in the prior year, the firm earned $0.09 EPS. As a group, research analysts forecast that DocuSign, Inc. will post 0.99 EPS for the current fiscal year.

Analyst Ratings Changes

DOCU has been the subject of a number of analyst reports. Morgan Stanley reduced their price target on DocuSign from $65.00 to $62.00 and set an “equal weight” rating for the company in a report on Friday, June 7th. Bank of America raised their price target on shares of DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Wells Fargo & Company upped their price target on shares of DocuSign from $48.00 to $50.00 and gave the company an “underweight” rating in a report on Friday, September 6th. Citigroup increased their price objective on shares of DocuSign from $86.00 to $87.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Finally, Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a research report on Friday, September 6th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $61.45.

Institutional Investors Weigh In On DocuSign

Hedge funds have recently added to or reduced their stakes in the stock. Massmutual Trust Co. FSB ADV grew its position in shares of DocuSign by 5,000.0% during the second 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 last quarter. Mather Group LLC. grew its position in DocuSign by 4,338.5% in the 2nd quarter. Mather Group LLC. now owns 577 shares of the company’s stock worth $31,000 after purchasing an additional 564 shares during the last quarter. Register Financial Advisors LLC acquired a new stake in shares of DocuSign in the first quarter valued at approximately $37,000. ICA Group Wealth Management LLC acquired a new stake in shares of DocuSign in the fourth quarter valued at approximately $39,000. Finally, nVerses Capital LLC bought a new stake in shares of DocuSign during the second quarter valued at approximately $48,000. 77.64% of the stock is currently owned by institutional investors.

DocuSign Company Profile

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.