Robert Chatwani Sells 14,799 Shares of DocuSign, Inc. (NASDAQ:DOCU) Stock

DocuSign, Inc. (NASDAQ:DOCU) insider Robert Chatwani sold 14,799 shares of DocuSign stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $55.46, for a total value of $820,752.54. Following the sale, the insider now owns 70,748 shares of the company’s stock, valued at $3,923,684.08. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Robert Chatwani also recently made the following trade(s):

• On Monday, June 24th, Robert Chatwani sold 14,799 shares of DocuSign stock. The shares were sold at an average price of $52.17, for a total transaction of $772,063.83.

DocuSign Stock Performance

NASDAQ:DOCU opened at $57.91 on Friday. The firm’s 50-day moving average is $55.84 and its 200-day moving average is $56.14. DocuSign, Inc. has a 52-week low of $38.11 and a 52-week high of $64.76. The company has a market cap of $11.86 billion, a price-to-earnings ratio of 111.37, a PEG ratio of 5.99 and a beta of 0.93.

DocuSign (NASDAQ:DOCU) last issued its quarterly earnings results on Thursday, September 5th. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.17. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. The firm had revenue of $736.03 million for the quarter, compared to analyst estimates of $727.20 million. During the same period in the previous year, the company posted $0.09 earnings per share. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. Equities analysts predict that DocuSign, Inc. will post 0.99 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of DOCU. Dakota Wealth Management raised its stake in shares of DocuSign by 0.8% in the 2nd quarter. Dakota Wealth Management now owns 23,022 shares of the company’s stock valued at $1,232,000 after buying an additional 181 shares in the last quarter. New York State Teachers Retirement System raised its position in DocuSign by 1.0% in the first quarter. New York State Teachers Retirement System now owns 18,469 shares of the company’s stock worth $1,100,000 after purchasing an additional 187 shares in the last quarter. Elo Mutual Pension Insurance Co raised its position in DocuSign by 1.1% in the second quarter. Elo Mutual Pension Insurance Co now owns 18,848 shares of the company’s stock worth $1,008,000 after purchasing an additional 214 shares in the last quarter. Motley Fool Asset Management LLC lifted its stake in DocuSign by 6.0% during the first quarter. Motley Fool Asset Management LLC now owns 3,960 shares of the company’s stock worth $236,000 after purchasing an additional 224 shares during the period. Finally, Optimist Retirement Group LLC boosted its holdings in DocuSign by 5.6% during the second quarter. Optimist Retirement Group LLC now owns 4,255 shares of the company’s stock valued at $228,000 after purchasing an additional 227 shares in the last quarter. 77.64% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on DOCU. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a research note on Friday, September 6th. Piper Sandler lowered their target price on shares of DocuSign from $65.00 to $60.00 and set a “neutral” rating on the stock in a research report on Friday, June 7th. Wells Fargo & Company boosted their price target on DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a research report on Friday, September 6th. Robert W. Baird increased their price objective on DocuSign from $55.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Finally, JMP Securities restated a “market outperform” rating and issued a $84.00 target price on shares of DocuSign in a report on Thursday, September 5th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $61.45.

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.