Insider Selling: DocuSign, Inc. (NASDAQ:DOCU) Director Sells 15,000 Shares of Stock

DocuSign, Inc. (NASDAQ:DOCU - Get Free Report) Director Peter Solvik sold 15,000 shares of the business's stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $60.00, for a total value of $900,000.00. Following the completion of the transaction, the director now directly owns 783 shares of the company's stock, valued at approximately $46,980. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

DocuSign Price Performance

Shares of NASDAQ:DOCU traded down $0.89 during mid-day trading on Wednesday, reaching $59.25. 1,265,977 shares of the company traded hands, compared to its average volume of 3,570,741. The company's 50 day moving average price is $55.38 and its 200-day moving average price is $51.35. The firm has a market cap of $12.17 billion, a PE ratio of 167.06, a PEG ratio of 5.22 and a beta of 0.89. DocuSign, Inc. has a 52 week low of $38.11 and a 52 week high of $64.76.

DocuSign (NASDAQ:DOCU - Get Free Report) last announced its quarterly earnings data on Thursday, March 7th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.09 by $0.06. The company had revenue of $712.39 million during the quarter, compared to the consensus estimate of $698.05 million. DocuSign had a return on equity of 13.91% and a net margin of 2.68%. On average, research analysts predict that DocuSign, Inc. will post 0.86 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Assenagon Asset Management S.A. grew its stake in shares of DocuSign by 321.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 214,877 shares of the company's stock valued at $9,025,000 after acquiring an additional 163,875 shares during the period. Executive Wealth Management LLC bought a new position in DocuSign in the 3rd quarter worth approximately $1,000,000. SG Americas Securities LLC boosted its stake in DocuSign by 93.1% in the 4th quarter. SG Americas Securities LLC now owns 78,423 shares of the company's stock worth $4,662,000 after purchasing an additional 37,801 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in DocuSign by 77.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,215,650 shares of the company's stock worth $51,057,000 after purchasing an additional 531,682 shares during the period. Finally, Grimes & Company Inc. bought a new position in DocuSign in the 3rd quarter worth approximately $12,047,000. 77.64% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on DOCU shares. Royal Bank of Canada reissued a "sector perform" rating and issued a $50.00 target price on shares of DocuSign in a research report on Friday, January 12th. Morgan Stanley raised shares of DocuSign from an "underweight" rating to an "equal weight" rating and upped their price target for the company from $49.00 to $64.00 in a research report on Tuesday, January 16th. Wells Fargo & Company reduced their price target on shares of DocuSign from $55.00 to $45.00 and set an "underweight" rating for the company in a research report on Monday, February 5th. JMP Securities reaffirmed a "market outperform" rating and set a $84.00 price target on shares of DocuSign in a research report on Monday, January 22nd. Finally, TheStreet raised shares of DocuSign from a "d+" rating to a "c-" rating in a research report on Tuesday, December 19th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, DocuSign presently has a consensus rating of "Hold" and a consensus price target of $58.33.

DocuSign Company Profile

DocuSign, Inc provides electronic signature solution in the United States and internationally. The company provides DocuSign 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; and Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce.

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