Insider Selling: Docusign (NASDAQ:DOCU) CRO Sells $270,006.00 in Stock

Key Points

• DocuSign CRO Paula Hansen sold 3,300 shares for $270,006, at an average price of $81.82. The sale was made under a pre-arranged Rule 10b5-1 plan; Hansen retained 103,258 shares afterward.
• DocuSign’s latest reported quarter beat analyst estimates, with earnings of $1.16 per share versus $1.09 expected and revenue of $875.75 million, up 9.4% year over year.
• Analysts’ consensus rating was Hold, with an average price target of $67.62.

Docusign Inc. (NASDAQ:DOCU - Get Free Report) CRO Paula Hansen sold 3,300 shares of the firm's stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $81.82, for a total transaction of $270,006.00. Following the completion of the transaction, the executive directly owned 103,258 shares of the company's stock, valued at approximately $8,448,569.56. This trade represents a 3.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Paula Hansen also recently made the following trade(s):

• On Thursday, October 1st, Paula Hansen sold 3,300 shares of Docusign stock. The shares were sold at an average price of $68.81, for a total transaction of $227,073.00.

Docusign Stock Performance

DOCU stock traded down $1.29 during midday trading on Tuesday, reaching $80.36. 2,224,797 shares of the company's stock traded hands, compared to its average volume of 3,884,262. The company has a 50-day moving average price of $71.18 and a two-hundred day moving average price of $54.82. Docusign Inc. has a 52 week low of $40.16 and a 52 week high of $85.90. The firm has a market capitalization of $15.02 billion, a PE ratio of 49.00, a price-to-earnings-growth ratio of 3.08 and a beta of 0.86.

Docusign (NASDAQ:DOCU - Get Free Report) last posted its quarterly earnings results on Thursday, September 3rd. The company reported $1.16 EPS 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 firm had revenue of $875.75 million during the quarter, compared to analyst estimates of $867.22 million. During the same period last year, the company earned $0.30 earnings per share. The business's revenue for the quarter was up 9.4% on a year-over-year basis. As a group, analysts predict that Docusign Inc. will post 2.15 EPS for the current fiscal year.

Hedge Funds Weigh In On Docusign

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE boosted its position in Docusign by 23.3% during the first quarter. Bank of America Corp DE now owns 1,193,163 shares of the company's stock valued at $56,568,000 after buying an additional 225,801 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of Docusign by 247.5% during the second quarter. Assenagon Asset Management S.A. now owns 349,038 shares of the company's stock valued at $15,504,000 after buying an additional 248,597 shares during the last quarter. Jefferies Financial Group Inc. purchased a new position in shares of Docusign in the second quarter worth about $691,000. Two Sigma Securities LLC purchased a new position in shares of Docusign in the second quarter worth about $1,376,000. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Docusign by 7.9% in the first quarter. Dimensional Fund Advisors LP now owns 1,100,891 shares of the company's stock worth $52,177,000 after buying an additional 80,442 shares during the period. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

DOCU has been the subject of a number of recent analyst reports. Yorkville Ives initiated coverage on Docusign in a research report on Monday, October 5th. They set an "in-line" rating and a $72.00 price target on the stock. Wall Street Zen downgraded shares of Docusign from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 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 report on Friday, September 4th. Citizens Jmp reaffirmed a "market outperform" rating and set a $86.00 price objective on shares of Docusign 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, fifteen have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $67.62.

Docusign Company Profile

DocuSign, Inc is a software company that provides digital agreement and electronic signature solutions. Its platform enables individuals and organizations to prepare, send, sign, manage and store agreements electronically, helping customers replace paper-based contracting processes with digital workflows.

The company's offerings include eSignature, contract lifecycle management, identity verification, notarization and agreement analytics tools. These products are designed to support agreement creation, negotiation, execution and post-signature management across functions such as sales, human resources, procurement, legal and finance.

Founded in 2003, DocuSign serves businesses, government organizations and individual users in markets around the world.

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.