Key Points
- Docusign insider Robert Chatwani sold 15,902 shares on June 22 for about $683,945 at an average price of $43.01. The sale was made under a pre-arranged Rule 10b5-1 trading plan, and his stake fell by 17.93%.
- The stock recently traded near its 52-week low, opening at $42.71 versus a 52-week range of $40.16 to $86.65. It also remains below its 50-day and 200-day moving averages, signaling continued pressure on the shares.
- Recent earnings came in above expectations, with Docusign reporting $1.09 EPS on revenue of $830.24 million, both topping analyst estimates. Even so, Wall Street remains cautious, with a consensus rating of “Hold” and an average price target of $60.27.
Docusign Inc. (NASDAQ:DOCU - Get Free Report) insider Robert Chatwani sold 15,902 shares of Docusign stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $43.01, for a total value of $683,945.02. Following the transaction, the insider owned 72,805 shares in the company, valued at $3,131,343.05. This trade represents a 17.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Docusign Stock Performance
NASDAQ DOCU opened at $42.71 on Tuesday. The business has a 50 day simple moving average of $47.11 and a 200 day simple moving average of $52.32. Docusign Inc. has a 52-week low of $40.16 and a 52-week high of $86.65. The stock has a market cap of $8.16 billion, a price-to-earnings ratio of 27.73, a PEG ratio of 1.32 and a beta of 0.92.
Docusign (NASDAQ:DOCU - Get Free Report) last announced its earnings results on Thursday, June 4th. The company reported $1.09 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 firm had revenue of $830.24 million for the quarter, compared to the consensus estimate of $824.71 million. During the same period last year, the company posted $0.90 EPS. The business's quarterly revenue was up 8.7% on a year-over-year basis. On average, analysts predict that Docusign Inc. will post 1.97 EPS for the current year.
Docusign announced that its Board of Directors has initiated a stock buyback program on Tuesday, March 17th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the company to buy up to 21% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's leadership believes its shares are undervalued.
Wall Street Analyst Weigh In
A number of analysts have recently commented on the company. BTIG Research cut their price target on Docusign from $70.00 to $60.00 and set a "buy" rating on the stock in a report on Friday, June 5th. Piper Sandler decreased their price objective on Docusign from $75.00 to $52.00 and set a "neutral" rating for the company in a report on Wednesday, March 18th. Wedbush dropped their target price on Docusign from $60.00 to $58.00 and set a "neutral" rating on the stock in a research report on Friday, June 5th. Citizens Jmp cut their target price on Docusign from $124.00 to $86.00 and set a "market outperform" rating on the stock in a research note on Wednesday, March 18th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Docusign in a research report on Friday, June 5th. Three equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $60.27.
View Our Latest Report on Docusign
Institutional Investors Weigh In On Docusign
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. NewEdge Advisors LLC boosted its stake in shares of Docusign by 36.4% during the 1st quarter. NewEdge Advisors LLC now owns 9,202 shares of the company's stock worth $749,000 after buying an additional 2,457 shares during the last quarter. Guggenheim Capital LLC raised its holdings in Docusign by 6.7% during the second quarter. Guggenheim Capital LLC now owns 11,543 shares of the company's stock worth $899,000 after acquiring an additional 729 shares in the last quarter. State Street Corp raised its holdings in Docusign by 3.0% during the second quarter. State Street Corp now owns 8,074,976 shares of the company's stock worth $628,960,000 after acquiring an additional 236,494 shares in the last quarter. Sei Investments Co. boosted its position in Docusign by 60.7% during the second quarter. Sei Investments Co. now owns 40,386 shares of the company's stock valued at $3,146,000 after purchasing an additional 15,247 shares during the last quarter. Finally, Treasurer of the State of North Carolina boosted its position in Docusign by 51.0% during the second quarter. Treasurer of the State of North Carolina now owns 189,178 shares of the company's stock valued at $14,735,000 after purchasing an additional 63,911 shares during the last quarter. 77.64% of the stock is owned by institutional investors.
Docusign Company Profile
(
Get Free Report)
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.
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