Insider Selling: DocuSign, Inc. (NASDAQ:DOCU) Insider Sells $1,306,582.14 in Stock

DocuSign, Inc. (NASDAQ:DOCU) insider Robert Chatwani sold 15,706 shares of the company’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $83.19, for a total value of $1,306,582.14. Following the sale, the insider now owns 76,842 shares in the company, valued at approximately $6,392,485.98. The trade was a 16.97 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

DocuSign Price Performance

DOCU opened at $88.06 on Friday. The company has a 50 day simple moving average of $87.54 and a two-hundred day simple moving average of $80.31. The firm has a market cap of $17.79 billion, a P/E ratio of 18.16, a PEG ratio of 6.94 and a beta of 1.02. DocuSign, Inc. has a 1-year low of $48.70 and a 1-year high of $107.86.

DocuSign (NASDAQ:DOCU) last issued its earnings results on Thursday, March 13th. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.02. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The firm had revenue of $776.25 million for the quarter, compared to analysts’ expectations of $760.94 million. During the same period in the previous year, the firm posted $0.76 earnings per share. The business’s revenue was up 9.0% compared to the same quarter last year. Equities analysts anticipate that DocuSign, Inc. will post 1.17 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have weighed in on DOCU shares. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $90.00 price objective on shares of DocuSign in a research note on Friday, March 14th. Morgan Stanley boosted their price target on shares of DocuSign from $62.00 to $97.00 and gave the stock an “equal weight” rating in a report on Friday, December 6th. UBS Group reduced their price objective on DocuSign from $100.00 to $90.00 and set a “neutral” rating for the company in a report on Friday, March 14th. William Blair raised shares of DocuSign from a “market perform” rating to an “outperform” rating in a report on Monday, March 17th. Finally, HSBC reissued a “reduce” rating on shares of DocuSign in a report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, DocuSign presently has a consensus rating of “Hold” and an average target price of $95.00.

Institutional Investors Weigh In On DocuSign

Several hedge funds and other institutional investors have recently modified their holdings of DOCU. Itau Unibanco Holding S.A. purchased a new position in shares of DocuSign during the third quarter worth approximately $28,000. Kestra Investment Management LLC purchased a new stake in shares of DocuSign during the 4th quarter worth $30,000. Brooklyn Investment Group purchased a new stake in shares of DocuSign during the third quarter valued at about $33,000. Modus Advisors LLC acquired a new stake in DocuSign in the fourth quarter valued at approximately $36,000. Finally, First Horizon Advisors Inc. boosted its position in shares of DocuSign by 102.6% in the 4th quarter. First Horizon Advisors Inc. now owns 397 shares of the company’s stock worth $36,000 after purchasing an additional 201 shares in the last quarter. 77.64% of the stock is currently owned by hedge funds and other 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.