Docusign (NASDAQ:DOCU) Insider Robert Chatwani Sells 15,902 Shares

Docusign Inc. (NASDAQ:DOCU) insider Robert Chatwani sold 15,902 shares of the business’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $43.01, for a total value of $683,945.02. Following the sale, the insider owned 72,805 shares of the company’s stock, valued at approximately $3,131,343.05. The trade was a 17.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Docusign Stock Down 1.7%

Shares of DOCU stock opened at $42.71 on Tuesday. The stock has a 50-day moving average price of $47.11 and a 200 day moving average price of $52.32. The firm has a market cap of $8.16 billion, a price-to-earnings ratio of 27.73, a PEG ratio of 1.32 and a beta of 0.92. Docusign Inc. has a 12 month low of $40.16 and a 12 month high of $86.65.

Docusign (NASDAQ:DOCU) last released its earnings results on Thursday, June 4th. The company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.10. The company had revenue of $830.24 million for the quarter, compared to the consensus estimate of $824.71 million. Docusign had a net margin of 9.59% and a return on equity of 17.48%. The company’s revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.90 EPS. Sell-side analysts predict that Docusign Inc. will post 1.97 earnings per share for the current fiscal year.

Docusign declared that its Board of Directors has initiated a share repurchase plan on Tuesday, March 17th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 21% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On Docusign

Several hedge funds have recently bought and sold shares of DOCU. Central Pacific Bank Trust Division acquired a new position in shares of Docusign in the 4th quarter valued at $25,000. Modus Advisors LLC acquired a new stake in Docusign during the 4th quarter worth $27,000. Torren Management LLC bought a new position in Docusign during the fourth quarter worth about $28,000. True Wealth Design LLC lifted its holdings in Docusign by 105.2% during the fourth quarter. True Wealth Design LLC now owns 433 shares of the company’s stock worth $30,000 after acquiring an additional 222 shares in the last quarter. Finally, Aventura Private Wealth LLC bought a new position in Docusign during the fourth quarter worth about $30,000. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have commented on DOCU. Weiss Ratings upgraded shares of Docusign from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, June 3rd. Citigroup raised their price target on Docusign from $50.00 to $54.00 and gave the stock a “neutral” rating in a research report on Friday, June 5th. Royal Bank Of Canada dropped their price objective on Docusign from $70.00 to $55.00 and set a “sector perform” rating for the company in a report on Wednesday, March 18th. Piper Sandler dropped their price objective on Docusign from $75.00 to $52.00 and set a “neutral” rating for the company in a report on Wednesday, March 18th. Finally, Wall Street Zen raised Docusign from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 13th. Three investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $60.27.

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.