DocuSign, Inc. (NASDAQ:DOCU) Insider James P. Shaughnessy Sells 7,500 Shares of Stock

DocuSign, Inc. (NASDAQ:DOCU) insider James P. Shaughnessy sold 7,500 shares of the firm’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $67.83, for a total value of $508,725.00. Following the completion of the transaction, the insider now owns 43,301 shares in the company, valued at $2,937,106.83. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

DocuSign Stock Performance

NASDAQ:DOCU opened at $69.22 on Friday. The stock’s 50-day simple moving average is $57.65 and its 200 day simple moving average is $56.68. The company has a market cap of $14.17 billion, a P/E ratio of 133.12, a P/E/G ratio of 6.37 and a beta of 0.92. DocuSign, Inc. has a 52-week low of $38.11 and a 52-week high of $69.54.

DocuSign (NASDAQ:DOCU) last released its earnings results on Thursday, September 5th. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.17. The business had revenue of $736.03 million for the quarter, compared to the consensus estimate of $727.20 million. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. DocuSign’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.09 earnings per share. As a group, equities analysts predict that DocuSign, Inc. will post 0.99 earnings per share for the current fiscal year.

Hedge Funds Weigh In On DocuSign

Institutional investors have recently bought and sold shares of the business. Comerica Bank increased its position in DocuSign by 228.8% during the first quarter. Comerica Bank now owns 28,901 shares of the company’s stock worth $1,721,000 after buying an additional 20,110 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of DocuSign by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 21,399,739 shares of the company’s stock worth $1,272,214,000 after acquiring an additional 417,352 shares during the period. Retirement Systems of Alabama bought a new stake in shares of DocuSign during the first quarter worth approximately $8,700,000. PGGM Investments boosted its holdings in shares of DocuSign by 36.7% during the second quarter. PGGM Investments now owns 49,812 shares of the company’s stock worth $2,665,000 after acquiring an additional 13,379 shares during the period. Finally, Advisory Services Network LLC boosted its holdings in shares of DocuSign by 77.8% during the first quarter. Advisory Services Network LLC now owns 56,494 shares of the company’s stock worth $3,364,000 after acquiring an additional 24,718 shares during the period. Institutional investors and hedge funds own 77.64% of the company’s stock.

Wall Street Analyst Weigh In

DOCU has been the topic of several recent analyst reports. Bank of America lifted their target price on DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a report on Friday, September 6th. Royal Bank of Canada lifted their target price on DocuSign from $52.00 to $57.00 and gave the stock a “sector perform” rating in a report on Friday, September 6th. Citigroup lifted their target price on DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Finally, Wells Fargo & Company lifted their target price on DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a report on Friday, September 6th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, DocuSign currently has an average rating of “Hold” and an average price target of $63.40.

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.