Insider Selling: Docusign Inc (NASDAQ:DOCU) Director Sells $29,266,788.60 in Stock

Docusign Inc (NASDAQ:DOCU) Director Enrique T. Salem sold 372,351 shares of the company’s stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $78.60, for a total value of $29,266,788.60. Following the sale, the director now owns 65,494 shares in the company, valued at approximately $5,147,828.40. The sale was disclosed in a filing with the SEC, which is available through this link.

Shares of DOCU opened at $81.37 on Thursday. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $14.98 billion, a price-to-earnings ratio of -68.96 and a beta of 1.03. The stock has a 50 day moving average of $83.42 and a 200 day moving average of $72.61. Docusign Inc has a 12 month low of $43.13 and a 12 month high of $92.55.

Docusign (NASDAQ:DOCU) last issued its quarterly earnings results on Thursday, March 12th. The company reported $0.12 EPS for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.07. The company had revenue of $274.90 million during the quarter, compared to the consensus estimate of $266.48 million. Docusign had a negative return on equity of 26.76% and a negative net margin of 21.39%. Docusign’s revenue was up 37.6% on a year-over-year basis. During the same period last year, the business posted $0.06 earnings per share. As a group, equities research analysts predict that Docusign Inc will post -0.91 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in DOCU. Jericho Capital Asset Management L.P. bought a new position in Docusign during the third quarter valued at $77,119,000. Norges Bank bought a new position in Docusign during the fourth quarter valued at $78,985,000. 1832 Asset Management L.P. bought a new position in Docusign during the fourth quarter valued at $70,156,000. Millennium Management LLC bought a new position in Docusign during the third quarter valued at $50,881,000. Finally, Lord Abbett & CO. LLC grew its holdings in Docusign by 126.3% during the fourth quarter. Lord Abbett & CO. LLC now owns 1,425,045 shares of the company’s stock valued at $105,610,000 after purchasing an additional 795,212 shares during the period. 80.43% of the stock is owned by institutional investors and hedge funds.

DOCU has been the topic of several research analyst reports. Wedbush restated an “outperform” rating on shares of Docusign in a research report on Thursday, January 23rd. BidaskClub raised Docusign from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 11th. JMP Securities upped their price target on Docusign to $86.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Zacks Investment Research downgraded Docusign from a “buy” rating to a “hold” rating in a research note on Wednesday, March 18th. Finally, Morgan Stanley upped their price target on Docusign from $76.00 to $77.00 and gave the stock an “equal weight” rating in a research note on Friday, March 13th. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. Docusign has a consensus rating of “Buy” and an average target price of $79.40.

About Docusign

DocuSign, Inc provides cloud based software in the United States. The company offers e-signature solution that enables businesses to digitally prepare, execute, and act on agreements. The company sells its products through direct, partner-assisted, and Web-based sales. It serves enterprise businesses, commercial businesses, and small businesses, such as professionals, sole proprietorships and individuals.

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Insider Buying and Selling by Quarter for Docusign (NASDAQ:DOCU)

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