Blake Jeffrey Grayson Sells 15,143 Shares of Docusign Inc. (NASDAQ:DOCU) Stock

Docusign Inc. (NASDAQ:DOCU - Get Free Report) CFO Blake Jeffrey Grayson sold 15,143 shares of Docusign stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $74.80, for a total transaction of $1,132,696.40. Following the completion of the sale, the chief financial officer now directly owns 110,723 shares in the company, valued at $8,282,080.40. This trade represents a 12.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Blake Jeffrey Grayson also recently made the following trade(s):

• On Tuesday, April 15th, Blake Jeffrey Grayson sold 8,000 shares of Docusign stock. The stock was sold at an average price of $76.09, for a total transaction of $608,720.00.

Docusign Stock Down 0.2%

NASDAQ:DOCU traded down $0.12 during trading hours on Friday, hitting $75.13. 4,871,439 shares of the company's stock traded hands, compared to its average volume of 2,859,510. The firm has a market cap of $15.18 billion, a P/E ratio of 14.20, a P/E/G ratio of 28.49 and a beta of 1.14. Docusign Inc. has a 52 week low of $48.80 and a 52 week high of $107.86. The business's fifty day simple moving average is $82.23 and its two-hundred day simple moving average is $85.85.

Docusign (NASDAQ:DOCU - Get Free Report) last posted its quarterly earnings data on Thursday, June 5th. The company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.09. The company had revenue of $763.65 million during the quarter, compared to analyst estimates of $748.79 million. Docusign had a return on equity of 14.27% and a net margin of 36.50%. The firm's quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter last year, the company earned $0.82 earnings per share. On average, analysts expect that Docusign Inc. will post 1.17 EPS for the current year.

Docusign announced that its board has initiated a stock buyback plan on Thursday, June 5th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to buy up to 6.6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board believes its shares are undervalued.

Institutional Investors Weigh In On Docusign

Several large investors have recently added to or reduced their stakes in DOCU. FMR LLC boosted its stake in Docusign by 178.2% during the fourth quarter. FMR LLC now owns 6,101,024 shares of the company's stock valued at $548,726,000 after buying an additional 3,908,139 shares during the period. Invesco Ltd. lifted its stake in Docusign by 283.9% during the fourth quarter. Invesco Ltd. now owns 3,447,275 shares of the company's stock worth $310,048,000 after purchasing an additional 2,549,310 shares during the last quarter. Norges Bank bought a new stake in Docusign during the fourth quarter worth about $223,196,000. Arrowstreet Capital Limited Partnership lifted its stake in Docusign by 201.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,158,311 shares of the company's stock worth $194,118,000 after purchasing an additional 1,442,639 shares during the last quarter. Finally, Wellington Management Group LLP lifted its stake in Docusign by 372.5% during the first quarter. Wellington Management Group LLP now owns 1,826,949 shares of the company's stock worth $148,714,000 after purchasing an additional 1,440,269 shares during the last quarter. Institutional investors own 77.64% of the company's stock.

Wall Street Analyst Weigh In

DOCU has been the topic of a number of research reports. JPMorgan Chase & Co. lowered their price target on shares of Docusign from $81.00 to $77.00 and set a "neutral" rating on the stock in a report on Friday, June 6th. Wedbush reduced their price objective on shares of Docusign from $100.00 to $85.00 and set a "neutral" rating for the company in a research note on Thursday, June 12th. Hsbc Global Res upgraded shares of Docusign from a "moderate sell" rating to a "hold" rating in a research note on Friday, April 11th. Robert W. Baird reduced their price objective on shares of Docusign from $93.00 to $85.00 and set a "neutral" rating for the company in a research note on Friday, June 6th. Finally, William Blair reiterated an "outperform" rating on shares of Docusign in a research note on Monday, April 21st. Twelve equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $89.77.

About Docusign

DocuSign, Inc provides electronic signature solution in the United States and internationally. The company provides e-signature solution that enables sending and signing of agreements on various devices; Contract Lifecycle Management (CLM), which automates workflows across the entire agreement process; Document Generation streamlines the process of generating new, custom agreements; and Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce.