Blake Jeffrey Grayson Sells 15,000 Shares of Docusign (NASDAQ:DOCU) Stock

Key Points

• Docusign CFO Blake Grayson sold 15,000 shares at an average price of $65.57, generating $983,550. The transaction, made under a pre-arranged Rule 10b5-1 plan, reduced his holdings by 15.56% to 81,429 shares.
• Docusign shares fell 4.9% to $65.08 during Tuesday trading, despite the company recently exceeding quarterly earnings and revenue expectations. Quarterly revenue rose 9.4% year over year, while EPS came in at $1.16 versus the $1.09 consensus estimate.
• Analysts maintain a broadly cautious outlook, with a consensus “Hold” rating and an average price target of $67.33. Institutional investors own 77.64% of Docusign’s outstanding shares.

Docusign Inc. (NASDAQ:DOCU - Get Free Report) CFO Blake Grayson sold 15,000 shares of the stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $65.57, for a total transaction of $983,550.00. Following the transaction, the chief financial officer owned 81,429 shares of the company's stock, valued at $5,339,299.53. This trade represents a 15.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Friday, September 4th, Blake Grayson sold 30,000 shares of Docusign stock. The stock was sold at an average price of $70.00, for a total transaction of $2,100,000.00.
• On Friday, August 7th, Blake Grayson sold 15,000 shares of Docusign stock. The shares were sold at an average price of $60.00, for a total transaction of $900,000.00.
• On Wednesday, July 1st, Blake Grayson sold 15,000 shares of Docusign stock. The shares were sold at an average price of $45.55, for a total transaction of $683,250.00.

Docusign Trading Down 4.9%

Shares of NASDAQ:DOCU traded down $3.33 during trading on Tuesday, reaching $65.08. The company's stock had a trading volume of 4,133,500 shares, compared to its average volume of 3,220,546. The stock has a market capitalization of $12.43 billion, a PE ratio of 39.68, a price-to-earnings-growth ratio of 2.43 and a beta of 0.90. Docusign Inc. has a 12 month low of $40.16 and a 12 month high of $86.65. The firm's 50 day simple moving average is $56.58 and its two-hundred day simple moving average is $50.21.

Docusign (NASDAQ:DOCU - Get Free Report) last issued its quarterly earnings data on Thursday, September 3rd. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.09 by $0.07. The business had revenue of $875.75 million for the quarter, compared to the consensus estimate of $867.22 million. Docusign had a return on equity of 18.29% and a net margin of 9.82%.The company's quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.30 earnings per share. Research analysts anticipate that Docusign Inc. will post 2.03 EPS for the current fiscal year.

Hedge Funds Weigh In On Docusign

Several hedge funds have recently bought and sold shares of DOCU. Modus Advisors LLC purchased a new stake in shares of Docusign during the fourth quarter valued at $27,000. Cary Street Partners Investment Advisory LLC grew its stake in Docusign by 309.5% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 561 shares of the company's stock worth $38,000 after acquiring an additional 424 shares in the last quarter. Basepoint Wealth LLC bought a new position in Docusign in the 4th quarter worth about $39,000. Harbour Investments Inc. increased its position in shares of Docusign by 56.6% during the fourth quarter. Harbour Investments Inc. now owns 797 shares of the company's stock worth $55,000 after acquiring an additional 288 shares during the period. Finally, CIBC Private Wealth Group LLC increased its position in shares of Docusign by 116.8% during the fourth quarter. CIBC Private Wealth Group LLC now owns 854 shares of the company's stock worth $58,000 after acquiring an additional 460 shares during the period. Institutional investors own 77.64% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on DOCU. Wall Street Zen lowered Docusign from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 2nd. Weiss Ratings upgraded shares of Docusign from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, August 25th. Morgan Stanley increased their target price on shares of Docusign from $69.00 to $75.00 and gave the company an "equal weight" rating in a research note on Friday. Wells Fargo & Company raised their target price on shares of Docusign from $55.00 to $60.00 and gave the stock an "equal weight" rating in a report on Friday. Finally, Piper Sandler lifted their price target on shares of Docusign from $52.00 to $75.00 and gave the stock a "neutral" rating in a research note on Friday. Three equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Docusign presently has an average rating of "Hold" and a consensus target price of $67.33.

About Docusign

Docusign, Inc NASDAQ: DOCU is a leading provider of electronic signature and digital transaction management solutions. The company’s flagship offering, Docusign eSignature, enables organizations to send, sign and manage legally binding electronic agreements securely in the cloud. Beyond eSignature, Docusign’s Agreement Cloud combines contract lifecycle management, document generation, and workflow automation to streamline agreement processes from initiation through execution and storage.

Docusign’s platform serves a diverse customer base spanning industries such as finance, real estate, healthcare, technology, and government.

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