Docusign (NASDAQ:DOCU) Stock Price Down 4.6% – Time to Sell?

Docusign Inc. (NASDAQ:DOCU) fell 4.6% on Friday . The company traded as low as $61.16 and last traded at $61.1550. 1,197,898 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 4,175,331 shares. The stock had previously closed at $64.09.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. BTIG Research cut their target price on Docusign from $70.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, June 5th. Wells Fargo & Company lowered their price objective 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. Needham & Company LLC reaffirmed a “hold” rating on shares of Docusign in a research note on Friday, June 5th. UBS Group set a $60.00 target price on Docusign in a report on Friday, June 5th. Finally, Citigroup increased their target price on shares of Docusign from $50.00 to $54.00 and gave the company a “neutral” rating in a research report on Friday, June 5th. Three investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $60.27.

Docusign Stock Performance

The stock has a fifty day simple moving average of $49.69 and a two-hundred day simple moving average of $48.33. The stock has a market capitalization of $11.67 billion, a price-to-earnings ratio of 39.72, a P/E/G ratio of 1.71 and a beta of 0.87.

Docusign (NASDAQ:DOCU) last announced its quarterly earnings data on Thursday, June 4th. The company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.10. Docusign had a return on equity of 17.48% and a net margin of 9.59%.The company had revenue of $830.24 million for the quarter, compared to the consensus estimate of $824.71 million. During the same period in the previous year, the business earned $0.90 EPS. The firm’s revenue was up 8.7% compared to the same quarter last year. Research analysts forecast that Docusign Inc. will post 2.03 earnings per share for the current year.

Insider Transactions at Docusign

In other Docusign news, CEO Allan C. Thygesen sold 26,250 shares of the stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $46.02, for a total transaction of $1,208,025.00. Following the transaction, the chief executive officer directly owned 159,038 shares in the company, valued at approximately $7,318,928.76. This represents a 14.17% decrease in their position. The transaction was disclosed in a 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. Also, CRO Paula Hansen sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $45.54, for a total transaction of $273,240.00. Following the sale, the executive directly owned 89,972 shares of the company’s stock, valued at approximately $4,097,324.88. This trade represents a 6.25% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 91,695 shares of company stock valued at $4,376,002. 0.59% of the stock is owned by insiders.

Institutional Investors Weigh In On Docusign

Large investors have recently bought and sold shares of the stock. Smartleaf Asset Management LLC raised its holdings in shares of Docusign by 8.2% during the second quarter. Smartleaf Asset Management LLC now owns 2,169 shares of the company’s stock valued at $166,000 after purchasing an additional 165 shares during the period. Centaurus Financial Inc. boosted its position in shares of Docusign by 3.4% during the 3rd quarter. Centaurus Financial Inc. now owns 5,582 shares of the company’s stock worth $402,000 after purchasing an additional 184 shares in the last quarter. Tred Avon Family Wealth LLC grew its stake in shares of Docusign by 3.6% in the 1st quarter. Tred Avon Family Wealth LLC now owns 6,176 shares of the company’s stock valued at $293,000 after buying an additional 215 shares during the period. Sanctuary Advisors LLC grew its stake in shares of Docusign by 2.4% in the 4th quarter. Sanctuary Advisors LLC now owns 9,685 shares of the company’s stock valued at $662,000 after buying an additional 231 shares during the period. Finally, First Citizens Bank & Trust Co. increased its position in Docusign by 2.1% in the 1st quarter. First Citizens Bank & Trust Co. now owns 11,745 shares of the company’s stock valued at $557,000 after buying an additional 239 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.