Insider Selling: Docusign (NASDAQ:DOCU) Director Sells 365 Shares of Stock

Key Points

• DocuSign director Teresa Briggs sold 365 shares on May 29 at an average price of $50.04, totaling about $18,265. The sale was made under a pre-arranged Rule 10b5-1 plan and reduced her holdings by 3.43%.
• The stock was down 3.4% in Tuesday trading, closing at $55.10 amid above-average volume. DocuSign’s shares have ranged from a 52-week low of $40.16 to a high of $94.67.
• DocuSign recently beat quarterly expectations, reporting EPS of $1.01 versus $0.95 expected and revenue of $836.86 million, up 7.8% year over year. The company also authorized a $2 billion stock buyback, while analysts currently rate the stock a consensus Hold.

Docusign Inc. (NASDAQ:DOCU - Get Free Report) Director Teresa Briggs sold 365 shares of the stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $50.04, for a total transaction of $18,264.60. Following the completion of the transaction, the director owned 10,263 shares in the company, valued at $513,560.52. The trade was a 3.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Docusign Stock Down 3.4%

DOCU traded down $1.92 during trading on Tuesday, hitting $55.10. The company's stock had a trading volume of 4,876,948 shares, compared to its average volume of 4,341,708. Docusign Inc. has a one year low of $40.16 and a one year high of $94.67. The firm has a market cap of $10.71 billion, a PE ratio of 37.23, a P/E/G ratio of 2.01 and a beta of 0.88. The business's 50 day simple moving average is $47.41 and its 200-day simple moving average is $54.53.

Docusign (NASDAQ:DOCU - Get Free Report) last released its quarterly earnings results on Tuesday, March 17th. The company reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.06. Docusign had a net margin of 9.60% and a return on equity of 16.86%. The business had revenue of $836.86 million for the quarter, compared to the consensus estimate of $828.23 million. During the same period last year, the firm earned $0.86 earnings per share. The company's quarterly revenue was up 7.8% on a year-over-year basis. Equities research analysts expect that Docusign Inc. will post 1.75 EPS for the current fiscal year.

Docusign declared that its board has authorized a stock buyback program on Tuesday, March 17th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 21% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on DOCU shares. UBS Group decreased their price target on shares of Docusign from $75.00 to $54.00 and set a "neutral" rating on the stock in a research report on Wednesday, March 18th. Needham & Company LLC reiterated a "hold" rating on shares of Docusign in a research report on Tuesday, March 10th. JPMorgan Chase & Co. decreased their price target on shares of Docusign from $78.00 to $65.00 and set a "neutral" rating on the stock in a research report on Wednesday, March 18th. Citigroup downgraded shares of Docusign from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $99.00 to $50.00 in a research report on Friday, April 10th. Finally, Weiss Ratings downgraded shares of Docusign from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Wednesday, April 15th. Three equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $61.40.

Institutional Trading of Docusign

Several institutional investors and hedge funds have recently modified their holdings of DOCU. Central Pacific Bank Trust Division bought a new stake in shares of Docusign during the 4th quarter valued at $25,000. Modus Advisors LLC bought a new stake in shares of Docusign during the 4th quarter valued at $27,000. Torren Management LLC bought a new stake in shares of Docusign during the 4th quarter valued at $28,000. Aventura Private Wealth LLC bought a new stake in shares of Docusign during the 4th quarter valued at $30,000. Finally, True Wealth Design LLC raised its position in shares of Docusign by 105.2% during the 4th quarter. True Wealth Design LLC now owns 433 shares of the company's stock valued at $30,000 after purchasing an additional 222 shares during the period. 77.64% of the stock is currently owned by institutional investors.

Docusign News Roundup

Here are the key news stories impacting Docusign this week:

• Positive Sentiment: Docusign announced its app is now available in ChatGPT and Codex, extending its Intelligent Agreement Management platform into OpenAI products and potentially boosting adoption by making it easier for customers to create, analyze, and manage agreements with natural-language prompts. Docusign Brings Trusted Agreement Intelligence and Workflows into ChatGPT and Codex
• Positive Sentiment: The company also named Graham Sheldon as Chief Product Officer, a move aimed at accelerating its AI-focused product strategy and strengthening execution around its Intelligent Agreement Management vision. Docusign Appoints Graham Sheldon as Chief Product Officer to Accelerate Intelligent Agreement Management Vision
• Neutral Sentiment: Several directors disclosed stock sales, including Anna Marrs, James A. Beer, and Teresa Briggs. The transactions were relatively small and were executed under pre-arranged Rule 10b5-1 plans, which usually makes them less concerning for investors. SEC filing: Anna Marrs Form 4
• Neutral Sentiment: Investor attention is also focused on Docusign’s June 4 earnings report, with recent commentary suggesting the market wants proof that its AI-driven product strategy is translating into stronger execution. Dear Docusign Stock Fans, Mark Your Calendars for June 4

About Docusign

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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