Docusign (NASDAQ:DOCU) Insider Sells 14,676 Shares

Key Points

• DocuSign insider Robert Chatwani sold 14,676 shares for approximately $1.02 million under a pre-arranged Rule 10b5-1 trading plan, reducing his ownership by 16.2% to 75,928 shares.
• DOCU shares fell 0.7% to $68.57, while the company reported quarterly earnings of $1.16 per share and revenue of $875.75 million, exceeding analyst expectations.
• Institutional investors own 77.64% of DocuSign, and analysts maintain a consensus “Hold” rating with an average price target of $67.33.

Docusign Inc. (NASDAQ:DOCU - Get Free Report) insider Robert Chatwani sold 14,676 shares of the company's stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $69.41, for a total value of $1,018,661.16. Following the completion of the transaction, the insider owned 75,928 shares of the company's stock, valued at $5,270,162.48. The trade was a 16.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Docusign Stock Down 0.7%

Shares of NASDAQ DOCU traded down $0.50 during trading hours on Monday, reaching $68.57. 3,267,441 shares of the stock traded hands, compared to its average volume of 3,664,308. The company has a market capitalization of $12.82 billion, a P/E ratio of 41.81, a price-to-earnings-growth ratio of 2.60 and a beta of 0.90. Docusign Inc. has a 52-week low of $40.16 and a 52-week high of $86.27. The company's 50-day simple moving average is $60.37 and its two-hundred day simple moving average is $51.73.

Docusign (NASDAQ:DOCU - Get Free Report) last released its earnings results on Thursday, September 3rd. The company reported $1.16 earnings per share for the quarter, topping analysts' consensus estimates of $1.09 by $0.07. Docusign had a return on equity of 18.29% and a net margin of 9.82%.The company had revenue of $875.75 million during the quarter, compared to the consensus estimate of $867.22 million. During the same quarter in the previous year, the company posted $0.30 EPS. Docusign's quarterly revenue was up 9.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Docusign Inc. will post 2.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in Docusign during the 2nd quarter valued at $927,059,000. Capital World Investors increased its position in shares of Docusign by 38.1% in the fourth quarter. Capital World Investors now owns 5,815,804 shares of the company's stock valued at $397,801,000 after acquiring an additional 1,603,900 shares during the period. Arrowstreet Capital Limited Partnership increased its position in shares of Docusign by 76.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 5,285,128 shares of the company's stock valued at $250,568,000 after acquiring an additional 2,283,996 shares during the period. Geode Capital Management LLC raised its stake in shares of Docusign by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 4,084,463 shares of the company's stock valued at $278,665,000 after acquiring an additional 18,873 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of Docusign by 4.0% during the first quarter. Renaissance Technologies LLC now owns 3,170,061 shares of the company's stock valued at $150,293,000 after acquiring an additional 123,100 shares during the last quarter. Institutional investors own 77.64% of the company's stock.

Analyst Upgrades and Downgrades

DOCU has been the subject of a number of research reports. BTIG Research upped 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. Robert W. Baird boosted their price target on shares of Docusign from $55.00 to $72.00 and gave the stock a "neutral" rating in a research note on Friday, September 4th. Weiss Ratings upgraded shares of Docusign from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, August 25th. Piper Sandler upped their price target on shares of Docusign from $52.00 to $75.00 and gave the company a "neutral" rating in a research report on Friday, September 4th. Finally, 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. Three investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Docusign presently has an average rating of "Hold" and an average price target of $67.33.

Docusign Company Profile

DocuSign, Inc is a provider of digital agreement management and electronic signature solutions. Its platform enables individuals and organizations to prepare, send, sign, manage and store agreements electronically, helping businesses replace paper-based contracting processes with digital workflows.

The company's products and services include DocuSign eSignature, which supports electronic signing and authentication, as well as tools for contract lifecycle management, agreement preparation, identity verification, notarial services and workflow automation.

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