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

Docusign Inc. (NASDAQ:DOCU - Get Free Report) insider Robert Chatwani sold 22,875 shares of the business's stock in a transaction that occurred on 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 approximately $5,394,303.54. The trade was a 24.08% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Docusign Stock Performance

Shares of DOCU traded down $0.12 during mid-day trading on Friday, hitting $75.13. The company's stock had a trading volume of 4,871,439 shares, compared to its average volume of 2,859,510. Docusign Inc. has a one year low of $48.80 and a one year high of $107.86. The firm has a market capitalization of $15.18 billion, a PE ratio of 14.20, a price-to-earnings-growth ratio of 28.49 and a beta of 1.14. The stock's 50-day moving average is $82.23 and its two-hundred day moving average is $85.85.

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

Docusign declared that its Board of Directors has approved a share repurchase plan on Thursday, June 5th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to purchase up to 6.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on DOCU shares. Morgan Stanley decreased their target price on Docusign from $92.00 to $86.00 and set an "equal weight" rating for the company in a research report on Friday, June 6th. Hsbc Global Res raised Docusign from a "moderate sell" rating to a "hold" rating in a research report on Friday, April 11th. Bank of America decreased their target price on Docusign from $88.00 to $85.00 and set a "neutral" rating for the company in a research report on Friday, June 6th. Wedbush decreased their target price on Docusign from $100.00 to $85.00 and set a "neutral" rating for the company in a research report on Thursday, June 12th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Docusign in a research report on Friday, June 6th. Twelve research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $89.77.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of DOCU. FMR LLC raised its stake in shares of Docusign by 178.2% in the fourth quarter. FMR LLC now owns 6,101,024 shares of the company's stock valued at $548,726,000 after purchasing an additional 3,908,139 shares in the last quarter. Invesco Ltd. raised its stake in shares of Docusign by 283.9% in the fourth quarter. Invesco Ltd. now owns 3,447,275 shares of the company's stock valued at $310,048,000 after purchasing an additional 2,549,310 shares in the last quarter. Norges Bank acquired a new position in shares of Docusign in the fourth quarter valued at $223,196,000. Arrowstreet Capital Limited Partnership raised its stake in shares of Docusign by 201.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,158,311 shares of the company's stock valued at $194,118,000 after purchasing an additional 1,442,639 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of Docusign by 372.5% in the first quarter. Wellington Management Group LLP now owns 1,826,949 shares of the company's stock valued at $148,714,000 after purchasing an additional 1,440,269 shares in the last quarter. 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.