Docusign (NASDAQ:DOCU) Insider James Shaughnessy Sells 12,000 Shares of Company Stock

Key Points

• Docusign insider James Shaughnessy sold 12,000 shares at an average price of $68.80, generating $825,600. The transaction, conducted under a Rule 10b5-1 plan, reduced his ownership by 19.17% to 50,591 shares.
• Docusign shares traded near $69, within a 12-month range of $40.16 to $75.00. The company recently exceeded quarterly earnings and revenue expectations, reporting $1.16 EPS and $875.75 million in revenue, up 9.4% year over year.
• Analysts maintain a broadly neutral view, with a consensus rating of “Hold” and an average price target of $67.33. Institutional investors own approximately 77.64% of the company.

Docusign Inc. (NASDAQ:DOCU - Get Free Report) insider James Shaughnessy sold 12,000 shares of Docusign stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $68.80, for a total transaction of $825,600.00. Following the transaction, the insider owned 50,591 shares of the company's stock, valued at $3,480,660.80. This represents a 19.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Docusign Price Performance

Shares of NASDAQ:DOCU traded down $0.73 during midday trading on Friday, hitting $69.01. 1,848,041 shares of the company's stock were exchanged, compared to its average volume of 3,319,626. Docusign Inc. has a 12 month low of $40.16 and a 12 month high of $75.00. The company has a market cap 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 stock has a 50 day moving average price of $63.52 and a 200-day moving average price of $52.98.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on DOCU shares. Morgan Stanley raised their target price on Docusign from $69.00 to $75.00 and gave the company an "equal weight" rating in a report on Friday, September 4th. Royal Bank Of Canada upped their price target on Docusign from $55.00 to $70.00 and gave the stock a "sector perform" rating in a report on Friday, September 4th. Piper Sandler increased their price target on Docusign from $52.00 to $75.00 and gave the company a "neutral" rating in a research report on Friday, September 4th. Jefferies Financial Group raised their price objective on Docusign from $45.00 to $50.00 and gave the company a "hold" rating in a research note on Friday, June 5th. Finally, Wells Fargo & Company lifted their price objective on shares of Docusign from $55.00 to $60.00 and gave the stock an "equal weight" rating in a report on Friday, September 4th. 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 stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $67.33.

Institutional Trading of Docusign

A number of hedge funds have recently bought and sold shares of DOCU. Versant Capital Management Inc lifted its holdings in Docusign by 4.9% during the third quarter. Versant Capital Management Inc now owns 7,179 shares of the company's stock worth $482,000 after acquiring an additional 335 shares during the period. Greenwich Wealth Management LLC grew its stake in Docusign by 30.0% in the 2nd quarter. Greenwich Wealth Management LLC now owns 120,835 shares of the company's stock valued at $5,367,000 after purchasing an additional 27,855 shares during the period. QRG Capital Management Inc. increased its position in shares of Docusign by 31.2% during the 2nd quarter. QRG Capital Management Inc. now owns 11,132 shares of the company's stock valued at $495,000 after purchasing an additional 2,645 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its position in shares of Docusign by 3.1% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 11,867 shares of the company's stock valued at $527,000 after purchasing an additional 356 shares during the last quarter. Finally, Integrated Wealth Concepts LLC increased its position in shares of Docusign by 2.0% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 14,359 shares of the company's stock valued at $638,000 after purchasing an additional 277 shares during the last quarter. 77.64% of the stock is currently owned by institutional investors.

Docusign Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.