Docusign (NASDAQ:DOCU) Insider James Shaughnessy Sells 12,000 Shares

Docusign Inc. (NASDAQ:DOCU) insider James Shaughnessy sold 12,000 shares of the firm’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $46.83, for a total transaction of $561,960.00. Following the completion of the sale, the insider owned 53,631 shares of the company’s stock, valued at $2,511,539.73. The trade was a 18.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Docusign Trading Up 0.4%

DOCU opened at $48.37 on Friday. The company has a fifty day moving average price of $47.58 and a two-hundred day moving average price of $62.08. Docusign Inc. has a 1-year low of $40.16 and a 1-year high of $94.67. The company has a market cap of $9.40 billion, a P/E ratio of 32.68, a price-to-earnings-growth ratio of 1.88 and a beta of 0.99.

Docusign (NASDAQ:DOCU) last released its quarterly earnings data on Tuesday, March 17th. The company reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.06. Docusign had a net margin of 9.60% and a return on equity of 16.86%. The company 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 firm earned $0.86 EPS. The business’s revenue was up 7.8% on a year-over-year basis. On average, research analysts forecast that Docusign Inc. will post 1.17 EPS for the current fiscal year.

Docusign declared that its Board of Directors has initiated a stock repurchase program on Tuesday, March 17th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 21% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

Several equities research analysts have recently commented on DOCU shares. UBS Group decreased their price objective on Docusign from $75.00 to $54.00 and set a “neutral” rating for the company in a report on Wednesday, March 18th. Weiss Ratings reissued a “hold (c)” rating on shares of Docusign in a research report on Wednesday, January 21st. Cantor Fitzgerald restated an “outperform” rating on shares of Docusign in a research note on Wednesday, December 17th. Wells Fargo & Company lowered their price objective on shares of Docusign from $75.00 to $60.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 18th. Finally, Royal Bank Of Canada reduced their price objective on shares of Docusign from $70.00 to $55.00 and set a “sector perform” rating for the company in a report on Wednesday, March 18th. Five equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $64.67.

Institutional Trading of Docusign

Institutional investors and hedge funds have recently modified their holdings of the stock. NewEdge Advisors LLC boosted its position in shares of Docusign by 36.4% during the first quarter. NewEdge Advisors LLC now owns 9,202 shares of the company’s stock valued at $749,000 after buying an additional 2,457 shares during the last quarter. Prudential Financial Inc. raised its position in Docusign by 24.4% in the 2nd quarter. Prudential Financial Inc. now owns 24,255 shares of the company’s stock valued at $1,912,000 after buying an additional 4,750 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in Docusign by 8.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 12,463 shares of the company’s stock valued at $971,000 after buying an additional 931 shares during the last quarter. Norges Bank bought a new position in Docusign during the 2nd quarter valued at $140,987,000. Finally, Beacon Pointe Advisors LLC bought a new position in Docusign during the 2nd quarter valued at $280,000. 77.64% of the stock is owned by hedge funds and other institutional investors.

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.