Insider Selling: DocuSign, Inc. (NASDAQ:DOCU) Director Sells 534 Shares of Stock

DocuSign, Inc. (NASDAQ:DOCU - Get Free Report) Director Teresa Briggs sold 534 shares of the stock in a transaction on Monday, June 16th. The shares were sold at an average price of $74.37, for a total transaction of $39,713.58. Following the completion of the transaction, the director now directly owns 8,805 shares in the company, valued at $654,827.85. This trade represents a 5.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

DocuSign Stock Up 2.2%

Shares of DOCU stock traded up $1.62 on Monday, reaching $75.68. 3,787,750 shares of the stock were exchanged, compared to its average volume of 2,856,972. The stock has a market cap of $15.29 billion, a P/E ratio of 15.60, a price-to-earnings-growth ratio of 6.94 and a beta of 1.14. DocuSign, Inc. has a 1-year low of $48.80 and a 1-year high of $107.86. The firm has a 50 day moving average of $82.21 and a two-hundred day moving average of $86.09.

DocuSign (NASDAQ:DOCU - Get Free Report) last released its quarterly earnings data on Thursday, June 5th. The company reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.09. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. The company had revenue of $763.65 million during the quarter, compared to analyst estimates of $748.79 million. During the same quarter in the prior year, the business earned $0.82 earnings per share. The business's quarterly revenue was up 7.6% compared to the same quarter last year. On average, equities research analysts predict that DocuSign, Inc. will post 1.17 EPS for the current fiscal year.

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

Analyst Upgrades and Downgrades

Several research analysts have commented on DOCU shares. Jefferies Financial Group cut their price target on DocuSign from $115.00 to $105.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Royal Bank of Canada restated a "sector perform" rating and issued a $90.00 price target on shares of DocuSign in a research note on Friday, March 14th. Wedbush decreased their target price on shares of DocuSign from $100.00 to $85.00 and set a "neutral" rating on the stock in a research report on Thursday. Robert W. Baird dropped their target price on shares of DocuSign from $93.00 to $85.00 and set a "neutral" rating for the company in a report on Friday, June 6th. Finally, William Blair reissued an "outperform" rating on shares of DocuSign in a report on Monday, April 21st. Twelve investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $89.77.

Institutional Trading of DocuSign

Large investors have recently bought and sold shares of the company. Kestra Investment Management LLC acquired a new stake in DocuSign during the 4th quarter valued at approximately $30,000. Hemington Wealth Management increased its stake in DocuSign by 318.1% during the first quarter. Hemington Wealth Management now owns 347 shares of the company's stock valued at $28,000 after purchasing an additional 264 shares during the last quarter. Banque Transatlantique SA acquired a new stake in DocuSign during the first quarter worth about $26,000. Golden State Wealth Management LLC lifted its stake in DocuSign by 519.4% in the first quarter. Golden State Wealth Management LLC now owns 384 shares of the company's stock valued at $31,000 after buying an additional 322 shares during the last quarter. Finally, First Horizon Advisors Inc. boosted its stake in DocuSign by 102.6% during the 4th quarter. First Horizon Advisors Inc. now owns 397 shares of the company's stock valued at $36,000 after purchasing an additional 201 shares during the period. Institutional investors and hedge funds own 77.64% of the company's stock.

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.

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