Insider Selling: DocuSign, Inc. (NASDAQ:DOCU) CFO Sells $778,576.92 in Stock

DocuSign, Inc. (NASDAQ:DOCU) CFO Blake Jeffrey Grayson sold 14,036 shares of the business’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $55.47, for a total value of $778,576.92. Following the completion of the transaction, the chief financial officer now directly owns 87,611 shares in the company, valued at approximately $4,859,782.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Blake Jeffrey Grayson also recently made the following trade(s):

• On Thursday, June 20th, Blake Jeffrey Grayson sold 49,123 shares of DocuSign stock. The stock was sold at an average price of $51.15, for a total transaction of $2,512,641.45.

DocuSign Trading Up 0.1 %

NASDAQ:DOCU opened at $57.97 on Friday. DocuSign, Inc. has a 1-year low of $38.11 and a 1-year high of $64.76. The firm has a market capitalization of $11.87 billion, a price-to-earnings ratio of 111.48, a PEG ratio of 5.99 and a beta of 0.93. The business’s 50-day moving average price is $55.87 and its two-hundred day moving average price is $56.17.

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

Analysts Set New Price Targets

Several equities research analysts have weighed in on DOCU shares. Wells Fargo & Company raised their price objective on shares of DocuSign from $48.00 to $50.00 and gave the company an “underweight” rating in a research report on Friday, September 6th. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a research report on Friday, September 6th. Royal Bank of Canada upped their price objective on DocuSign from $52.00 to $57.00 and gave the stock a “sector perform” rating in a report on Friday, September 6th. Bank of America lifted their target price on DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $84.00 price target on shares of DocuSign in a research note on Thursday, September 5th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, DocuSign has a consensus rating of “Hold” and a consensus target price of $61.45.

Hedge Funds Weigh In On DocuSign

Hedge funds and other institutional investors have recently made changes to their positions in the company. Comerica Bank lifted its holdings in DocuSign by 228.8% during the first quarter. Comerica Bank now owns 28,901 shares of the company’s stock worth $1,721,000 after acquiring an additional 20,110 shares in the last quarter. Vanguard Group Inc. raised its position in shares of DocuSign by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 21,399,739 shares of the company’s stock worth $1,272,214,000 after purchasing an additional 417,352 shares during the period. KBC Group NV lifted its holdings in shares of DocuSign by 119.3% during the 4th quarter. KBC Group NV now owns 739,196 shares of the company’s stock valued at $43,945,000 after purchasing an additional 402,084 shares in the last quarter. Retirement Systems of Alabama acquired a new position in shares of DocuSign in the 1st quarter valued at approximately $8,700,000. Finally, PGGM Investments increased its stake in DocuSign by 36.7% during the 2nd quarter. PGGM Investments now owns 49,812 shares of the company’s stock worth $2,665,000 after purchasing an additional 13,379 shares in the last quarter. 77.64% of the stock is owned by institutional investors.

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.