DocuSign, Inc. (NASDAQ:DOCU) CFO Sells $608,720.00 in Stock

DocuSign, Inc. (NASDAQ:DOCU) CFO Blake Jeffrey Grayson sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $76.09, for a total transaction of $608,720.00. Following the completion of the transaction, the chief financial officer now owns 86,156 shares in the company, valued at approximately $6,555,610.04. This trade represents a 8.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• On Wednesday, March 19th, Blake Jeffrey Grayson sold 16,111 shares of DocuSign stock. The stock was sold at an average price of $83.20, for a total transaction of $1,340,435.20.
• On Friday, February 14th, Blake Jeffrey Grayson sold 8,000 shares of DocuSign stock. The stock was sold at an average price of $86.90, for a total transaction of $695,200.00.

DocuSign Stock Performance

Shares of DOCU traded down $1.10 during trading hours on Wednesday, hitting $76.39. The company had a trading volume of 2,310,353 shares, compared to its average volume of 2,725,731. The firm has a fifty day moving average price of $82.19 and a 200-day moving average price of $82.95. The stock has a market capitalization of $15.47 billion, a price-to-earnings ratio of 15.75, a P/E/G ratio of 6.94 and a beta of 1.20. DocuSign, Inc. has a 52-week low of $48.70 and a 52-week high of $107.86.

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

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. JMP Securities reaffirmed a “market outperform” rating and set a $124.00 price target on shares of DocuSign in a research note on Tuesday, January 7th. Wedbush restated a “neutral” rating and issued a $100.00 target price on shares of DocuSign in a research report on Friday, March 14th. Jefferies Financial Group reduced their price target on shares of DocuSign from $115.00 to $105.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a research note on Friday, March 14th. Finally, Bank of America decreased their target price on shares of DocuSign from $112.00 to $98.00 and set a “neutral” rating on the stock in a research report on Friday, March 14th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $93.46.

Institutional Trading of DocuSign

A number of institutional investors have recently made changes to their positions in the stock. Rhumbline Advisers lifted its holdings in shares of DocuSign by 118.8% during the 4th quarter. Rhumbline Advisers now owns 608,123 shares of the company’s stock valued at $54,695,000 after buying an additional 330,136 shares during the period. KBC Group NV grew its stake in shares of DocuSign by 32.7% during the 4th quarter. KBC Group NV now owns 1,535,107 shares of the company’s stock valued at $138,067,000 after purchasing an additional 378,233 shares during the period. Jennison Associates LLC purchased a new stake in shares of DocuSign during the 4th quarter valued at about $12,897,000. Everence Capital Management Inc. purchased a new position in shares of DocuSign in the fourth quarter worth approximately $720,000. Finally, Principal Financial Group Inc. increased its holdings in DocuSign by 3,026.7% during the fourth quarter. Principal Financial Group Inc. now owns 546,796 shares of the company’s stock valued at $49,179,000 after buying an additional 529,308 shares during the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.

About DocuSign

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.