DocuSign (NASDAQ:DOCU) Stock Price Down 2.6% – Here’s What Happened

DocuSign, Inc. (NASDAQ:DOCU) dropped 2.6% during trading on Wednesday . The stock traded as low as $82.50 and last traded at $82.80. Approximately 322,282 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 2,600,686 shares. The stock had previously closed at $85.01.

Wall Street Analysts Forecast Growth

DOCU has been the subject of several recent research reports. Citigroup raised their price objective on shares of DocuSign from $113.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, March 14th. Jefferies Financial Group lifted their price target on shares of DocuSign from $80.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. William Blair upgraded shares of DocuSign from a “market perform” rating to an “outperform” rating in a research note on Monday. Wedbush reiterated a “neutral” rating and issued a $100.00 price target on shares of DocuSign in a research note on Friday, March 14th. Finally, Robert W. Baird set a $93.00 price target on shares of DocuSign in a research note on Friday. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, DocuSign presently has a consensus rating of “Hold” and an average price target of $95.00.

DocuSign Stock Down 1.0 %

The business’s fifty day simple moving average is $87.75 and its two-hundred day simple moving average is $79.87. The company has a market cap of $17.01 billion, a price-to-earnings ratio of 17.35, a PEG ratio of 6.94 and a beta of 1.02.

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

Insider Activity at DocuSign

In other DocuSign news, CFO Blake Jeffrey Grayson sold 8,000 shares of the company’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $86.90, for a total transaction of $695,200.00. Following the completion of the transaction, the chief financial officer now owns 77,851 shares in the company, valued at approximately $6,765,251.90. This represents a 9.32 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Teresa Briggs sold 534 shares of the company’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $87.41, for a total transaction of $46,676.94. Following the transaction, the director now owns 8,270 shares of the company’s stock, valued at approximately $722,880.70. The trade was a 6.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,034 shares of company stock worth $5,932,352 in the last 90 days. 1.66% of the stock is owned by insiders.

Hedge Funds Weigh In On DocuSign

Large investors have recently bought and sold shares of the company. Itau Unibanco Holding S.A. purchased a new position in DocuSign during the 3rd quarter worth $28,000. Kestra Investment Management LLC purchased a new position in DocuSign during the 4th quarter worth $30,000. Brooklyn Investment Group purchased a new position in DocuSign during the 3rd quarter worth $33,000. Modus Advisors LLC purchased a new position in DocuSign during the 4th quarter worth $36,000. Finally, First Horizon Advisors Inc. raised its position in DocuSign by 102.6% during the 4th quarter. First Horizon Advisors Inc. now owns 397 shares of the company’s stock worth $36,000 after buying an additional 201 shares during the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.

DocuSign Company Profile

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.