Insider Selling: DocuSign, Inc. (NASDAQ:DOCU) Insider Sells $508,725.00 in Stock

DocuSign, Inc. (NASDAQ:DOCU) insider James P. Shaughnessy sold 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $67.83, for a total value of $508,725.00. Following the completion of the transaction, the insider now owns 43,301 shares of the company’s stock, valued at $2,937,106.83. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

DocuSign Trading Down 0.5 %

DOCU opened at $68.89 on Friday. DocuSign, Inc. has a 1-year low of $38.11 and a 1-year high of $69.78. The stock’s fifty day simple moving average is $58.30 and its 200 day simple moving average is $56.83. The stock has a market cap of $13.98 billion, a PE ratio of 14.53, a price-to-earnings-growth ratio of 7.33 and a beta of 0.92.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings results on Thursday, September 5th. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.17. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. The business had revenue of $736.03 million for the quarter, compared to analysts’ expectations of $727.20 million. During the same quarter in the prior year, the business earned $0.09 EPS. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. Equities analysts forecast that DocuSign, Inc. will post 1.01 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Bank of America upped their price target on DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. JMP Securities reaffirmed a “market outperform” rating and set a $84.00 price target on shares of DocuSign in a research report on Thursday, September 5th. Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a research report on Friday, September 6th. Wells Fargo & Company upped their price target on DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a research report on Friday, September 6th. Finally, Citigroup upped their price target on DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, DocuSign currently has an average rating of “Hold” and a consensus price target of $63.40.

Institutional Investors Weigh In On DocuSign

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in DocuSign by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 21,399,739 shares of the company’s stock valued at $1,272,214,000 after acquiring an additional 417,352 shares during the period. Coatue Management LLC bought a new position in DocuSign during the 4th quarter worth $288,274,000. American Century Companies Inc. increased its position in DocuSign by 1.9% during the 2nd quarter. American Century Companies Inc. now owns 4,099,400 shares of the company’s stock worth $219,318,000 after buying an additional 75,026 shares during the period. Renaissance Technologies LLC increased its position in DocuSign by 18.3% during the 2nd quarter. Renaissance Technologies LLC now owns 3,729,314 shares of the company’s stock worth $199,518,000 after buying an additional 576,414 shares during the period. Finally, Pacer Advisors Inc. increased its position in DocuSign by 77.9% during the 2nd quarter. Pacer Advisors Inc. now owns 3,519,969 shares of the company’s stock worth $188,318,000 after buying an additional 1,541,816 shares during the period. Institutional investors own 77.64% of the company’s stock.

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.