James Beer Sells 450 Shares of Docusign (NASDAQ:DOCU) Stock

Key Points

• Director James Beer sold 450 DocuSign shares at an average price of $64.02, totaling $28,809. The Rule 10b5-1 transaction reduced his holdings by 2.99% to 14,586 shares.
• DocuSign shares rose 0.3% to $64.00, while the company’s latest quarterly results exceeded expectations with $1.09 in EPS and $830.24 million in revenue, up 8.7% year over year.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $60.27; institutional investors own 77.64% of the company.

Docusign Inc. (NASDAQ:DOCU - Get Free Report) Director James Beer sold 450 shares of Docusign stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $64.02, for a total value of $28,809.00. Following the sale, the director owned 14,586 shares in the company, valued at $933,795.72. This trade represents a 2.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Docusign Trading Up 0.3%

Shares of NASDAQ DOCU traded up $0.20 during trading hours on Friday, reaching $64.00. The stock had a trading volume of 3,771,389 shares, compared to its average volume of 4,112,477. The firm has a 50-day moving average of $53.03 and a 200-day moving average of $49.04. The firm has a market cap of $12.22 billion, a price-to-earnings ratio of 41.56, a PEG ratio of 1.72 and a beta of 0.87. Docusign Inc. has a fifty-two week low of $40.16 and a fifty-two week high of $86.65.

Docusign (NASDAQ:DOCU - Get Free Report) last issued its quarterly earnings data on Thursday, June 4th. The company reported $1.09 earnings per share for the quarter, beating analysts' consensus estimates of $0.99 by $0.10. The company had revenue of $830.24 million during the quarter, compared to analysts' expectations of $824.71 million. Docusign had a return on equity of 17.48% and a net margin of 9.59%.The firm's revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.90 earnings per share. On average, equities analysts predict that Docusign Inc. will post 2.06 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on DOCU shares. BTIG Research decreased their target price on shares of Docusign from $70.00 to $60.00 and set a "buy" rating for the company in a research note on Friday, June 5th. Bank of America restated an "underperform" rating on shares of Docusign in a research report on Friday. Needham & Company LLC reaffirmed a "hold" rating on shares of Docusign in a research note on Friday, June 5th. Wells Fargo & Company decreased their price objective on Docusign from $60.00 to $55.00 and set an "equal weight" rating for the company in a research report on Friday, June 5th. Finally, Citigroup reiterated a "market outperform" rating on shares of Docusign in a research note on Tuesday, August 18th. Four investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $60.27.

Institutional Trading of Docusign

Several hedge funds have recently made changes to their positions in DOCU. Bank of America Corp DE raised its stake in shares of Docusign by 23.3% during the 1st quarter. Bank of America Corp DE now owns 1,193,163 shares of the company's stock worth $56,568,000 after buying an additional 225,801 shares in the last quarter. Capital World Investors boosted its stake 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 buying an additional 1,603,900 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Docusign by 247.5% in 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 in the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new position in Docusign during the fourth quarter worth $6,897,000. Finally, Los Angeles Capital Management LLC acquired a new position in Docusign during the fourth quarter worth $1,750,000. Institutional investors and hedge funds own 77.64% of the company's stock.

Docusign Company Profile

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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