Insider Selling: DocuSign, Inc. (NASDAQ:DOCU) Insider Sells 15,706 Shares of Stock

DocuSign, Inc. (NASDAQ:DOCU) insider Robert Chatwani sold 15,706 shares of the company’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $83.19, for a total value of $1,306,582.14. Following the sale, the insider now directly owns 76,842 shares of the company’s stock, valued at $6,392,485.98. The trade was a 16.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

DocuSign Price Performance

Shares of NASDAQ:DOCU traded down $0.50 during midday trading on Thursday, reaching $85.11. The company’s stock had a trading volume of 2,234,214 shares, compared to its average volume of 2,607,510. DocuSign, Inc. has a fifty-two week low of $48.70 and a fifty-two week high of $107.86. The company has a market capitalization of $17.19 billion, a P/E ratio of 17.55, a P/E/G ratio of 6.94 and a beta of 1.02. The business’s fifty day simple moving average is $87.67 and its 200-day simple moving average is $79.91.

DocuSign (NASDAQ:DOCU) last announced its earnings results on Thursday, March 13th. The company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.02. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The company had revenue of $776.25 million during the quarter, compared to analyst estimates of $760.94 million. During the same period last year, the company posted $0.76 earnings per share. The firm’s quarterly revenue was up 9.0% compared to the same quarter last year. On average, analysts forecast that DocuSign, Inc. will post 1.17 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on DOCU. Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a research report on Friday, March 14th. William Blair raised DocuSign from a “market perform” rating to an “outperform” rating in a research report on Monday. Hsbc Global Res raised DocuSign to a “moderate sell” rating in a research report on Friday, December 6th. Robert W. Baird set a $93.00 target price on DocuSign in a research report on Friday, March 14th. Finally, Piper Sandler upped their target price on DocuSign from $60.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $95.00.

Institutional Trading of DocuSign

Hedge funds and other institutional investors have recently made changes to their positions in the business. FMR LLC increased its position in DocuSign by 178.2% in the fourth quarter. FMR LLC now owns 6,101,024 shares of the company’s stock worth $548,726,000 after purchasing an additional 3,908,139 shares during the period. Invesco Ltd. increased its position in DocuSign by 283.9% in the fourth quarter. Invesco Ltd. now owns 3,447,275 shares of the company’s stock worth $310,048,000 after purchasing an additional 2,549,310 shares during the period. Norges Bank acquired a new stake in DocuSign in the fourth quarter worth about $223,196,000. Arrowstreet Capital Limited Partnership increased its position in DocuSign by 201.6% in the fourth 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, Jericho Capital Asset Management L.P. increased its position in DocuSign by 34.0% in the fourth quarter. Jericho Capital Asset Management L.P. now owns 4,754,753 shares of the company’s stock worth $427,642,000 after purchasing an additional 1,205,500 shares during the period. 77.64% of the stock is currently owned by institutional investors and hedge funds.

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.