Robert Chatwani Sells 22,875 Shares of Docusign Inc. (NASDAQ:DOCU) Stock

Docusign Inc. (NASDAQ:DOCU - Get Free Report) insider Robert Chatwani sold 22,875 shares of the business's stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $74.79, for a total value of $1,710,821.25. Following the completion of the sale, the insider now directly owns 72,126 shares of the company's stock, valued at $5,394,303.54. The trade was a 24.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Docusign Stock Performance

Shares of DOCU traded up $0.44 during trading hours on Thursday, hitting $75.25. The stock had a trading volume of 3,736,684 shares, compared to its average volume of 2,866,307. The company's fifty day simple moving average is $82.18 and its 200 day simple moving average is $85.91. Docusign Inc. has a 12-month low of $48.80 and a 12-month high of $107.86. The firm has a market cap of $15.21 billion, a P/E ratio of 14.22, a P/E/G ratio of 28.54 and a beta of 1.14.

Docusign (NASDAQ:DOCU - Get Free Report) last released its quarterly earnings data on Thursday, June 5th. The company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.81 by $0.09. The company had revenue of $763.65 million for the quarter, compared to analyst estimates of $748.79 million. Docusign had a return on equity of 14.27% and a net margin of 36.50%. The firm's revenue was up 7.6% compared to the same quarter last year. During the same period last year, the company posted $0.82 earnings per share. As a group, sell-side analysts predict that Docusign Inc. will post 1.17 earnings per share for the current fiscal year.

Docusign announced that its Board of Directors has authorized a stock repurchase plan on Thursday, June 5th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to purchase up to 6.6% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several analysts have commented on DOCU shares. Citigroup reduced their price objective on Docusign from $115.00 to $110.00 and set a "buy" rating for the company in a research note on Monday, June 9th. Wedbush cut their target price on Docusign from $100.00 to $85.00 and set a "neutral" rating for the company in a research note on Thursday, June 12th. Royal Bank Of Canada reissued a "sector perform" rating and set a $90.00 target price on shares of Docusign in a research note on Friday, March 14th. William Blair restated an "outperform" rating on shares of Docusign in a report on Monday, April 21st. Finally, Morgan Stanley lowered their price target on Docusign from $92.00 to $86.00 and set an "equal weight" rating on the stock in a report on Friday, June 6th. Twelve research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $89.77.

Hedge Funds Weigh In On Docusign

Hedge funds have recently bought and sold shares of the company. Gilman Hill Asset Management LLC grew its stake in Docusign by 4.9% in the first quarter. Gilman Hill Asset Management LLC now owns 84,326 shares of the company's stock worth $6,864,000 after purchasing an additional 3,904 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Docusign by 3,026.7% in the fourth quarter. Principal Financial Group Inc. now owns 546,796 shares of the company's stock valued at $49,179,000 after acquiring an additional 529,308 shares during the period. Amundi boosted its stake in Docusign by 565.8% in the fourth quarter. Amundi now owns 1,379,575 shares of the company's stock valued at $123,486,000 after acquiring an additional 1,172,368 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of Docusign during the fourth quarter valued at approximately $882,000. Finally, Van ECK Associates Corp bought a new stake in shares of Docusign during the fourth quarter valued at approximately $4,664,000. 77.64% of the stock is currently owned by institutional investors and hedge funds.

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.