Key Points
- DocuSign CFO Blake Jeffrey Grayson sold 15,000 shares at an average price of $60, generating $900,000. The transaction occurred under a pre-arranged Rule 10b5-1 plan and reduced his direct ownership by 10.61% to 126,429 shares.
- DocuSign’s latest quarterly results exceeded expectations, with earnings of $1.09 per share versus the $0.99 consensus and revenue of $830.24 million. Revenue increased 8.7% year over year.
- Analysts maintain a consensus “Hold” rating with an average price target of $60.27, while institutional investors own 77.64% of the company’s shares.
Docusign Inc. (NASDAQ:DOCU - Get Free Report) CFO Blake Jeffrey Grayson sold 15,000 shares of the stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $60.00, for a total transaction of $900,000.00. Following the sale, the chief financial officer directly owned 126,429 shares in the company, valued at $7,585,740. This trade represents a 10.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Blake Jeffrey Grayson also recently made the following trade(s):
- On Wednesday, July 1st, Blake Jeffrey Grayson sold 15,000 shares of Docusign stock. The stock was sold at an average price of $45.55, for a total transaction of $683,250.00.
Docusign Stock Performance
Shares of NASDAQ DOCU opened at $59.34 on Wednesday. The firm's 50 day moving average price is $49.32 and its 200-day moving average price is $48.28. The company has a market cap of $11.33 billion, a PE ratio of 38.53, a P/E/G ratio of 1.76 and a beta of 0.87. Docusign Inc. has a 52-week low of $40.16 and a 52-week high of $86.65.
Docusign (NASDAQ:DOCU - Get Free Report) last announced its quarterly earnings results on Thursday, June 4th. The company reported $1.09 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.10. The company had revenue of $830.24 million during the quarter, compared to the consensus estimate of $824.71 million. Docusign had a net margin of 9.59% and a return on equity of 17.48%. The firm's quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.90 earnings per share. On average, analysts forecast that Docusign Inc. will post 2.03 earnings per share for the current fiscal year.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on DOCU. Jefferies Financial Group raised their price target on shares of Docusign from $45.00 to $50.00 and gave the company a "hold" rating in a report on Friday, June 5th. UBS Group set a $60.00 price objective on shares of Docusign in a research report on Friday, June 5th. Citigroup raised their target price on shares of Docusign from $50.00 to $54.00 and gave the stock a "neutral" rating in a report on Friday, June 5th. Wedbush cut their target price on shares of Docusign from $60.00 to $58.00 and set a "neutral" rating for the company in a research report on Friday, June 5th. Finally, Wall Street Zen lowered shares of Docusign from a "strong-buy" rating to a "buy" rating in a research note on Sunday, August 2nd. Three investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $60.27.
View Our Latest Stock Analysis on DOCU
Institutional Investors Weigh In On Docusign
Several hedge funds and other institutional investors have recently modified their holdings of DOCU. BlackRock Inc. purchased a new position in Docusign in the 2nd quarter worth approximately $927,059,000. Norges Bank purchased a new stake in Docusign in the fourth quarter worth about $186,795,000. Arrowstreet Capital Limited Partnership lifted its position in shares of Docusign by 76.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 5,285,128 shares of the company's stock worth $250,568,000 after purchasing an additional 2,283,996 shares during the period. Capital World Investors boosted its stake in shares of Docusign by 38.1% during the fourth quarter. Capital World Investors now owns 5,815,804 shares of the company's stock valued at $397,801,000 after purchasing an additional 1,603,900 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in Docusign during the second quarter valued at approximately $56,219,000. 77.64% of the stock is currently owned by hedge funds and other institutional investors.
About Docusign
(
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.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
