DocuSign, Inc. (NASDAQ:DOCU) CFO Sells $778,576.92 in Stock

DocuSign, Inc. (NASDAQ:DOCU) CFO Blake Jeffrey Grayson sold 14,036 shares of the business’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $55.47, for a total transaction of $778,576.92. Following the completion of the sale, the chief financial officer now owns 87,611 shares in the company, valued at approximately $4,859,782.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Thursday, June 20th, Blake Jeffrey Grayson sold 49,123 shares of DocuSign stock. The stock was sold at an average price of $51.15, for a total transaction of $2,512,641.45.

DocuSign Stock Up 1.7 %

Shares of NASDAQ DOCU traded up $0.95 during midday trading on Wednesday, reaching $56.64. 2,379,565 shares of the company’s stock traded hands, compared to its average volume of 2,684,469. DocuSign, Inc. has a one year low of $38.11 and a one year high of $64.76. The stock’s 50 day simple moving average is $55.76 and its 200-day simple moving average is $56.13. The company has a market cap of $11.60 billion, a price-to-earnings ratio of 108.92, a P/E/G ratio of 5.99 and a beta of 0.93.

DocuSign (NASDAQ:DOCU) last posted its earnings results on Thursday, September 5th. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.17. DocuSign had a net margin of 34.56% and a return on equity of 16.18%. The company had revenue of $736.03 million during the quarter, compared to analysts’ expectations of $727.20 million. During the same quarter in the prior year, the company posted $0.09 earnings per share. DocuSign’s revenue for the quarter was up 7.0% compared to the same quarter last year. Equities analysts predict that DocuSign, Inc. will post 0.99 EPS for the current fiscal year.

Hedge Funds Weigh In On DocuSign

Several hedge funds have recently modified their holdings of DOCU. Comerica Bank grew its holdings in shares of DocuSign by 228.8% during the first quarter. Comerica Bank now owns 28,901 shares of the company’s stock valued at $1,721,000 after buying an additional 20,110 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of DocuSign by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 21,399,739 shares of the company’s stock valued at $1,272,214,000 after purchasing an additional 417,352 shares during the period. KBC Group NV raised its stake in shares of DocuSign by 119.3% in the fourth quarter. KBC Group NV now owns 739,196 shares of the company’s stock worth $43,945,000 after purchasing an additional 402,084 shares during the last quarter. Retirement Systems of Alabama acquired a new stake in shares of DocuSign during the first quarter worth about $8,700,000. Finally, PGGM Investments boosted its position in DocuSign by 36.7% in the second quarter. PGGM Investments now owns 49,812 shares of the company’s stock valued at $2,665,000 after buying an additional 13,379 shares during the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.

Analysts Set New Price Targets

DOCU has been the topic of several analyst reports. Robert W. Baird boosted their price objective on DocuSign from $55.00 to $59.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Citigroup upped their price target on shares of DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Royal Bank of Canada raised their price target on shares of DocuSign from $52.00 to $57.00 and gave the stock a “sector perform” rating in a research note on Friday, September 6th. Bank of America boosted their price objective on shares of DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. Finally, Piper Sandler reduced their target price on shares of DocuSign from $65.00 to $60.00 and set a “neutral” rating on the stock in a research report on Friday, June 7th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus 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.