James Beer Sells 450 Shares of Docusign (NASDAQ:DOCU) Stock

Docusign Inc. (NASDAQ:DOCU) Director James Beer sold 450 shares of the company’s stock in a transaction on Friday, August 28th. The shares were sold at an average price of $64.02, for a total transaction of $28,809.00. Following the transaction, the director owned 14,586 shares of the company’s stock, valued at approximately $933,795.72. The trade was a 2.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Docusign Price Performance

NASDAQ DOCU opened at $64.00 on Friday. The firm has a market capitalization of $12.22 billion, a price-to-earnings ratio of 41.56, a P/E/G ratio of 1.86 and a beta of 0.87. The company’s fifty day moving average is $53.44 and its two-hundred day moving average is $49.15. Docusign Inc. has a 52-week low of $40.16 and a 52-week high of $86.65.

Docusign (NASDAQ:DOCU) last posted its quarterly earnings data on Thursday, June 4th. The company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.10. Docusign had a net margin of 9.59% and a return on equity of 17.48%. The company had revenue of $830.24 million for the quarter, compared to the consensus estimate of $824.71 million. During the same quarter in the previous year, the firm posted $0.90 EPS. The business’s revenue was up 8.7% compared to the same quarter last year. As a group, sell-side analysts expect that Docusign Inc. will post 2.06 earnings per share for the current fiscal year.

Key Docusign News

Here are the key news stories impacting Docusign this week:

• Positive Sentiment: Analysts at Zacks said DocuSign’s upcoming earnings report could benefit from factors supporting a potential earnings beat. The articles encourage investors to monitor earnings expectations ahead of the scheduled quarterly announcement. DocuSign Earnings Expected to Grow
• Positive Sentiment: Recent trading strength across several software stocks, including DocuSign, provided a favorable sector backdrop and helped support investor sentiment toward DOCU. Software Stocks Trade Up
• Neutral Sentiment: DocuSign’s ARR guidance is expected to receive increased attention from Bank of America. Investors will likely scrutinize recurring-revenue growth and management’s outlook because ARR is a key indicator of future subscription performance. DocuSign ARR Guidance
• Neutral Sentiment: Comparisons with Autodesk (NASDAQ: ADSK) frame DocuSign as a potential value opportunity within internet software, but the analysis does not represent a new company catalyst. DOCU Versus ADSK
• Negative Sentiment: Director James A. Beer sold 450 shares worth approximately $28,809. The transaction reduced his holdings by 2.99%, but it was made under a pre-arranged Rule 10b5-1 trading plan and represents only a small portion of his remaining stake, limiting its significance as a bearish signal. DocuSign Director Stock Sale Filing

Analyst Ratings Changes

A number of brokerages have commented on DOCU. Needham & Company LLC restated a “hold” rating on shares of Docusign in a research note on Friday, June 5th. BTIG Research dropped their target price on Docusign from $70.00 to $60.00 and set a “buy” rating for the company in a report on Friday, June 5th. Wells Fargo & Company cut their target price on Docusign from $60.00 to $55.00 and set an “equal weight” rating for the company in a research report on Friday, June 5th. Citizens Jmp reaffirmed a “market outperform” rating and issued a $86.00 price target on shares of Docusign in a research note on Tuesday, August 18th. Finally, Bank of America reiterated an “underperform” rating on shares of Docusign in a research report on Friday. Four research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $60.27.

Institutional Trading of Docusign

A number of hedge funds and other institutional investors have recently made changes to their positions in DOCU. BlackRock Inc. acquired a new stake in Docusign in the 2nd quarter valued at about $927,059,000. California State Teachers Retirement System lifted its position in shares of Docusign by 4,016.6% during the second quarter. California State Teachers Retirement System now owns 9,960,652 shares of the company’s stock worth $442,452,000 after purchasing an additional 9,718,686 shares in the last quarter. State Street Corp grew its stake in shares of Docusign by 0.9% during the fourth quarter. State Street Corp now owns 8,193,805 shares of the company’s stock valued at $560,456,000 after purchasing an additional 77,008 shares during the last quarter. Capital World Investors grew its stake in shares of Docusign by 38.1% during the fourth quarter. Capital World Investors now owns 5,815,804 shares of the company’s stock valued at $397,801,000 after purchasing an additional 1,603,900 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of Docusign by 76.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 5,285,128 shares of the company’s stock valued at $250,568,000 after purchasing an additional 2,283,996 shares in the last quarter. 77.64% of the stock is currently owned by institutional investors and hedge funds.

About Docusign

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.