Docusign (NASDAQ:DOCU) CRO Paula Hansen Sells 6,000 Shares of Stock

Docusign Inc. (NASDAQ:DOCU) CRO Paula Hansen sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $46.84, for a total value of $281,040.00. Following the transaction, the executive directly owned 79,233 shares in the company, valued at approximately $3,711,273.72. This trade represents a 7.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Paula Hansen also recently made the following trade(s):

• On Friday, January 2nd, Paula Hansen sold 6,000 shares of Docusign stock. The shares were sold at an average price of $67.05, for a total value of $402,300.00.

Docusign Trading Up 0.4%

Shares of NASDAQ DOCU opened at $48.37 on Friday. The company has a market capitalization of $9.40 billion, a P/E ratio of 32.68, a P/E/G ratio of 1.88 and a beta of 0.99. Docusign Inc. has a 12 month low of $40.16 and a 12 month high of $94.67. The stock has a 50 day moving average of $47.58 and a 200-day moving average of $62.08.

Docusign (NASDAQ:DOCU) last posted its quarterly earnings results on Tuesday, March 17th. The company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.06. Docusign had a return on equity of 16.86% and a net margin of 9.60%.The business had revenue of $836.86 million for the quarter, compared to analysts’ expectations of $828.23 million. During the same quarter in the prior year, the business earned $0.86 EPS. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. Analysts predict that Docusign Inc. will post 1.17 EPS for the current fiscal year.

Docusign announced that its board has initiated a share repurchase program on Tuesday, March 17th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 21% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Citigroup lowered their price target on shares of Docusign from $120.00 to $99.00 and set a “buy” rating on the stock in a report on Wednesday, March 18th. Piper Sandler dropped their price target on Docusign from $75.00 to $52.00 and set a “neutral” rating for the company in a report on Wednesday, March 18th. Jefferies Financial Group cut Docusign from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $105.00 to $45.00 in a research report on Monday, February 23rd. Citizens Jmp dropped their target price on Docusign from $124.00 to $86.00 and set a “market outperform” rating for the company in a report on Wednesday, March 18th. Finally, Evercore reduced their target price on shares of Docusign from $92.00 to $80.00 and set an “in-line” rating for the company in a research report on Friday, December 5th. Five equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Docusign has an average rating of “Hold” and a consensus target price of $64.67.

Hedge Funds Weigh In On Docusign

A number of hedge funds have recently added to or reduced their stakes in DOCU. Nordea Investment Management AB lifted its position in Docusign by 3.6% during the third quarter. Nordea Investment Management AB now owns 1,154,824 shares of the company’s stock worth $87,316,000 after purchasing an additional 40,432 shares during the period. Baird Financial Group Inc. increased its holdings in Docusign by 927.2% in the 2nd quarter. Baird Financial Group Inc. now owns 124,145 shares of the company’s stock valued at $9,670,000 after buying an additional 112,059 shares during the period. Rakuten Investment Management Inc. acquired a new position in shares of Docusign in the 3rd quarter valued at approximately $5,335,000. Bank of New York Mellon Corp raised its position in shares of Docusign by 3.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,594,884 shares of the company’s stock valued at $114,975,000 after buying an additional 47,331 shares in the last quarter. Finally, Retirement Systems of Alabama lifted its holdings in shares of Docusign by 11.1% during the 3rd quarter. Retirement Systems of Alabama now owns 519,106 shares of the company’s stock worth $37,422,000 after acquiring an additional 51,922 shares during the period. 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.