Insider Selling: Docusign (NASDAQ:DOCU) CFO Sells 15,000 Shares

Key Points

• DocuSign CFO Blake Jeffrey Grayson sold 15,000 shares at an average price of $60, generating $900,000. The transaction was conducted under a pre-arranged Rule 10b5-1 plan and reduced his holdings by 10.61% to 126,429 shares.
• DOCU shares recently traded at $59.34, down 0.5%, while the company’s latest quarterly results exceeded expectations: adjusted EPS was $1.09 versus a $0.99 consensus, and revenue rose 8.7% year over year to $830.24 million.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and an average price target of $60.27. Institutional investors own 77.64% of DocuSign’s outstanding stock.

Docusign Inc. (NASDAQ:DOCU - Get Free Report) CFO Blake Jeffrey Grayson sold 15,000 shares of Docusign stock in a transaction on Friday, August 7th. The stock was sold at an average price of $60.00, for a total value of $900,000.00. Following the sale, the chief financial officer owned 126,429 shares in the company, valued at $7,585,740. The trade was a 10.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, July 1st, Blake Jeffrey Grayson sold 15,000 shares of Docusign stock. The stock was sold at an average price of $45.55, for a total transaction of $683,250.00.

Docusign Stock Down 0.5%

DOCU traded down $0.30 during trading on Tuesday, hitting $59.34. 1,764,578 shares of the company traded hands, compared to its average volume of 4,205,418. Docusign Inc. has a one year low of $40.16 and a one year high of $86.65. The stock's fifty day moving average is $49.23 and its 200 day moving average is $48.26. The firm has a market cap of $11.33 billion, a P/E ratio of 38.53, a price-to-earnings-growth ratio of 1.78 and a beta of 0.87.

Docusign (NASDAQ:DOCU - Get Free Report) last announced its quarterly earnings data on Thursday, June 4th. The company reported $1.09 EPS for the quarter, topping the consensus estimate of $0.99 by $0.10. Docusign had a net margin of 9.59% and a return on equity of 17.48%. The business had revenue of $830.24 million for the quarter, compared to analyst estimates of $824.71 million. During the same quarter in the previous year, the firm posted $0.90 earnings per share. The company's revenue for the quarter was up 8.7% on a year-over-year basis. On average, equities research analysts forecast that Docusign Inc. will post 2.03 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on DOCU shares. BTIG Research reduced their price objective on Docusign from $70.00 to $60.00 and set a "buy" rating for the company in a report on Friday, June 5th. Wells Fargo & Company lowered their target price on Docusign from $60.00 to $55.00 and set an "equal weight" rating on the stock in a research note on Friday, June 5th. Needham & Company LLC reaffirmed a "hold" rating on shares of Docusign in a research report on Friday, June 5th. Jefferies Financial Group upped their price target on Docusign from $45.00 to $50.00 and gave the company a "hold" rating in a research report on Friday, June 5th. Finally, Wedbush cut their price target on Docusign from $60.00 to $58.00 and set a "neutral" rating for the company in a research note on Friday, June 5th. Three investment 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $60.27.

Institutional Investors Weigh In On Docusign

Several large investors have recently added to or reduced their stakes in the business. Modus Advisors LLC purchased a new stake in shares of Docusign in the 4th quarter valued at about $27,000. Torren Management LLC purchased a new position in shares of Docusign during the fourth quarter worth about $28,000. Cary Street Partners Investment Advisory LLC increased its position in shares of Docusign by 309.5% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 561 shares of the company's stock worth $38,000 after purchasing an additional 424 shares during the last quarter. Basepoint Wealth LLC bought a new position in shares of Docusign in the fourth quarter worth approximately $39,000. Finally, WealthCollab LLC raised its stake in Docusign by 372.4% in the first quarter. WealthCollab LLC now owns 855 shares of the company's stock valued at $41,000 after purchasing an additional 674 shares in the last quarter. Institutional investors 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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