Docusign (NASDAQ:DOCU) CRO Paula Hansen Sells 3,300 Shares of Company Stock

Key Points

• DocuSign CRO Paula Hansen sold 3,300 shares at an average price of $68.81, totaling $227,073. The Rule 10b5-1 transaction reduced her direct ownership by 3% to 106,557 shares.
• DocuSign shares fell 1% to $69.01, while the stock remained near its 52-week high of $75.00. The company has a $12.9 billion market capitalization.
• DocuSign recently exceeded quarterly expectations, reporting $1.16 in EPS and $875.75 million in revenue, up 9.4% year over year. Analysts maintain an overall “Hold” rating with an average price target of $67.33.

Docusign Inc. (NASDAQ:DOCU - Get Free Report) CRO Paula Hansen sold 3,300 shares of Docusign stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $68.81, for a total value of $227,073.00. Following the completion of the sale, the executive directly owned 106,557 shares of the company's stock, valued at $7,332,187.17. This trade represents a 3.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Docusign Trading Down 1.0%

Shares of DOCU traded down $0.73 during trading hours on Friday, hitting $69.01. 1,848,041 shares of the stock traded hands, compared to its average volume of 3,319,626. Docusign Inc. has a 1-year low of $40.16 and a 1-year high of $75.00. The firm has a market capitalization of $12.90 billion, a PE ratio of 42.08, a price-to-earnings-growth ratio of 2.58 and a beta of 0.86. The business has a fifty day moving average of $63.52 and a 200-day moving average of $52.98.

Docusign (NASDAQ:DOCU - Get Free Report) last posted its quarterly earnings results on Thursday, September 3rd. The company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.07. The business had revenue of $875.75 million for the quarter, compared to analysts' expectations of $867.22 million. Docusign had a return on equity of 18.29% and a net margin of 9.82%.The firm's quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.30 earnings per share. As a group, equities research analysts expect that Docusign Inc. will post 2.13 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on DOCU shares. Wall Street Zen lowered shares of Docusign from a "strong-buy" rating to a "buy" rating in a research note on Sunday, August 2nd. Bank of America boosted their price target on shares of Docusign from $58.00 to $64.00 and gave the stock an "underperform" rating in a research note on Friday, September 4th. BTIG Research raised their price objective on shares of Docusign from $60.00 to $75.00 and gave the company a "buy" rating in a research note on Wednesday, September 2nd. Royal Bank Of Canada raised their price objective on shares of Docusign from $55.00 to $70.00 and gave the company a "sector perform" rating in a research note on Friday, September 4th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Docusign in a report on Friday, September 4th. Three research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Docusign has an average rating of "Hold" and an average target price of $67.33.

Hedge Funds Weigh In On Docusign

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DOCU. Tred Avon Family Wealth LLC grew its stake in shares of Docusign by 3.6% in the first quarter. Tred Avon Family Wealth LLC now owns 6,176 shares of the company's stock valued at $293,000 after buying an additional 215 shares in the last quarter. First Citizens Bank & Trust Co. raised its position in Docusign by 2.1% during the first quarter. First Citizens Bank & Trust Co. now owns 11,745 shares of the company's stock worth $557,000 after acquiring an additional 239 shares in the last quarter. Integrated Wealth Concepts LLC raised its position in Docusign by 2.0% during the second quarter. Integrated Wealth Concepts LLC now owns 14,359 shares of the company's stock worth $638,000 after acquiring an additional 277 shares in the last quarter. Harbour Investments Inc. raised its position in 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 in the last quarter. Finally, OMERS ADMINISTRATION Corp lifted its stake in Docusign by 3.4% in the first quarter. OMERS ADMINISTRATION Corp now owns 8,878 shares of the company's stock valued at $421,000 after acquiring an additional 296 shares during the last quarter. Institutional investors own 77.64% of the company's stock.

About Docusign

DocuSign, Inc NASDAQ: DOCU provides cloud-based software for electronically signing, managing and automating agreements. Its platform enables individuals and organizations to prepare, send, sign, track and store documents digitally, helping replace paper-based contracting processes.

The company's offerings include electronic signature tools, contract lifecycle management, identity verification and authentication services, document generation, agreement analytics and related workflow automation capabilities.

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