Docusign Inc. (NASDAQ:DOCU) CFO Sells $1,132,696.40 in Stock

Docusign Inc. (NASDAQ:DOCU - Get Free Report) CFO Blake Jeffrey Grayson sold 15,143 shares of the stock in a transaction dated 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 sale, the chief financial officer now owns 110,723 shares of the company's stock, valued at approximately $8,282,080.40. This represents a 12.03% 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.

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 Performance

Shares of DOCU traded up $0.44 on Thursday, hitting $75.25. 3,736,684 shares of the stock traded hands, compared to its average volume of 2,866,307. The company has a market capitalization of $15.21 billion, a PE ratio of 14.22, a P/E/G ratio of 28.54 and a beta of 1.14. The business has a 50 day simple moving average of $82.18 and a 200 day simple moving average of $85.91. Docusign Inc. has a one year low of $48.80 and a one year high of $107.86.

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

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

Institutional Investors Weigh In On Docusign

Several institutional investors and hedge funds have recently made changes to their positions in DOCU. FMR LLC increased its position in shares of 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 acquiring an additional 3,908,139 shares in the last quarter. Invesco Ltd. increased its position in shares of Docusign by 283.9% during the fourth quarter. Invesco Ltd. now owns 3,447,275 shares of the company's stock valued at $310,048,000 after acquiring an additional 2,549,310 shares in the last quarter. Norges Bank bought a new stake in shares of Docusign during the fourth quarter valued at approximately $223,196,000. Arrowstreet Capital Limited Partnership grew its position in Docusign by 201.6% in the 4th 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 period. Finally, Wellington Management Group LLP grew its position in Docusign by 372.5% in the 1st 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 period. Institutional investors own 77.64% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on DOCU. Wells Fargo & Company upgraded shares of Docusign from an "underweight" rating to an "equal weight" rating and raised their price objective for the stock from $67.00 to $80.00 in a report on Friday, June 13th. Citigroup lowered their price objective on shares of Docusign from $115.00 to $110.00 and set a "buy" rating for the company in a report on Monday, June 9th. JMP Securities restated a "market outperform" rating and issued a $124.00 price objective on shares of Docusign in a report on Tuesday, June 3rd. UBS Group lowered their price objective on shares of Docusign from $85.00 to $80.00 and set a "neutral" rating for the company in a report on Friday, June 6th. Finally, HSBC upgraded shares of Docusign from a "reduce" rating to a "hold" rating and set a $70.00 price objective for the company in a report on Friday, April 11th. Twelve investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $89.77.

Docusign Company Profile

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.