Insider Selling: Docusign (NASDAQ:DOCU) Insider Sells $683,945.02 in Stock

Docusign Inc. (NASDAQ:DOCU) insider Robert Chatwani sold 15,902 shares of the company’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $43.01, for a total transaction of $683,945.02. Following the sale, the insider directly owned 72,805 shares of the company’s stock, valued at $3,131,343.05. This represents a 17.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Docusign Stock Down 1.7%

Shares of Docusign stock traded down $0.76 during trading on Monday, hitting $42.71. The stock had a trading volume of 5,124,249 shares, compared to its average volume of 4,462,764. The stock has a 50 day simple moving average of $47.17 and a 200 day simple moving average of $52.50. The company has a market capitalization of $8.16 billion, a PE ratio of 27.73, a P/E/G ratio of 1.32 and a beta of 0.92. Docusign Inc. has a 1 year low of $40.16 and a 1 year high of $86.65.

Docusign (NASDAQ:DOCU) last issued its quarterly earnings results on Thursday, June 4th. The company reported $1.09 EPS for the quarter, beating 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 business had revenue of $830.24 million during the quarter, compared to the consensus estimate of $824.71 million. During the same quarter in the prior year, the firm earned $0.90 EPS. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. As a group, equities analysts expect that Docusign Inc. will post 1.97 earnings per share for the current fiscal year.

Docusign announced that its Board of Directors has approved a stock buyback program on Tuesday, March 17th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the company to buy up to 21% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on DOCU shares. JPMorgan Chase & Co. reduced their price objective on Docusign from $78.00 to $65.00 and set a “neutral” rating for the company in a research note on Wednesday, March 18th. BTIG Research reduced their price target on shares of Docusign from $70.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, June 5th. Wall Street Zen upgraded shares of Docusign from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 13th. Wells Fargo & Company dropped their price objective on shares of Docusign from $60.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Friday, June 5th. Finally, Bank of America began coverage on shares of Docusign in a research report on Tuesday, March 31st. They issued an “underperform” rating and a $52.00 target price for the company. Three equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $60.27.

Institutional Investors Weigh In On Docusign

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Central Pacific Bank Trust Division bought a new stake in shares of Docusign in the 4th quarter valued at approximately $25,000. Modus Advisors LLC acquired a new stake in Docusign in the fourth quarter valued at approximately $27,000. Torren Management LLC bought a new stake in Docusign in the fourth quarter worth approximately $28,000. Aventura Private Wealth LLC bought a new stake in Docusign in the fourth quarter worth approximately $30,000. Finally, True Wealth Design LLC increased its stake in shares of Docusign by 105.2% during the 4th quarter. True Wealth Design LLC now owns 433 shares of the company’s stock worth $30,000 after purchasing an additional 222 shares during the last quarter. 77.64% of the stock is owned by hedge funds and other institutional investors.

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.