Key Points
- DocuSign insider Robert Chatwani sold 14,676 shares at an average price of $69.41, generating approximately $1.02 million. The Rule 10b5-1 plan transaction reduced his direct ownership by 16.2% to 75,928 shares.
- DocuSign reported quarterly adjusted earnings of $1.16 per share and revenue of $875.75 million, exceeding analyst expectations; revenue increased 9.4% year over year.
- Analyst sentiment remains cautious, with a consensus “Hold” rating and a $67.33 target price, while institutional investors own 77.64% of the company.
Docusign Inc. (NASDAQ:DOCU - Get Free Report) insider Robert Chatwani sold 14,676 shares of the business's stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of $69.41, for a total transaction of $1,018,661.16. Following the completion of the sale, the insider directly owned 75,928 shares in the company, valued at $5,270,162.48. This trade represents a 16.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Docusign Stock Performance
Shares of DOCU stock opened at $68.57 on Tuesday. The firm's 50 day moving average price is $60.37 and its 200-day moving average price is $51.73. Docusign Inc. has a one year low of $40.16 and a one year high of $86.27. The firm has a market cap of $12.82 billion, a P/E ratio of 41.81, a P/E/G ratio of 2.60 and a beta of 0.90.
Docusign (NASDAQ:DOCU - Get Free Report) last posted its earnings results on Thursday, September 3rd. The company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.07. The firm had revenue of $875.75 million during the quarter, compared to the consensus estimate of $867.22 million. Docusign had a net margin of 9.82% and a return on equity of 18.29%. The firm's revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.30 EPS. As a group, research analysts predict that Docusign Inc. will post 2.1 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently weighed in on the company. Morgan Stanley lifted their price objective on Docusign from $69.00 to $75.00 and gave the company an "equal weight" rating in a research note on Friday, September 4th. Needham & Company LLC reissued a "hold" rating on shares of Docusign in a research note on Friday, September 4th. Citizens Jmp restated a "market outperform" rating and set a $86.00 target price on shares of Docusign in a report on Friday, September 4th. Citigroup lifted their target price on Docusign from $54.00 to $72.00 and gave the company a "neutral" rating in a research report on Friday, September 4th. 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 research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $67.33.
Read Our Latest Analysis on DOCU
Institutional Trading of Docusign
A number of large investors have recently modified their holdings of the stock. Integrated Wealth Concepts LLC boosted its holdings in Docusign by 2.0% in the second quarter. Integrated Wealth Concepts LLC now owns 14,359 shares of the company's stock valued at $638,000 after purchasing an additional 277 shares during the period. NewEdge Advisors LLC grew its stake in Docusign by 29.8% during the 2nd quarter. NewEdge Advisors LLC now owns 14,311 shares of the company's stock worth $636,000 after purchasing an additional 3,287 shares in the last quarter. IFP Advisors Inc increased its holdings in Docusign by 38.9% during the 2nd quarter. IFP Advisors Inc now owns 3,923 shares of the company's stock worth $174,000 after purchasing an additional 1,098 shares during the period. Baird Financial Group Inc. increased its holdings in Docusign by 3.0% during the 2nd quarter. Baird Financial Group Inc. now owns 119,634 shares of the company's stock worth $5,314,000 after purchasing an additional 3,538 shares during the period. Finally, Waverly Advisors LLC increased its holdings in Docusign by 99.7% during the 2nd quarter. Waverly Advisors LLC now owns 8,528 shares of the company's stock worth $379,000 after purchasing an additional 4,257 shares during the period. Hedge funds and other institutional investors own 77.64% of the company's stock.
About Docusign
(
Get Free Report)
DocuSign, Inc is a provider of digital agreement management and electronic signature solutions. Its platform enables individuals and organizations to prepare, send, sign, manage and store agreements electronically, helping businesses replace paper-based contracting processes with digital workflows.
The company's products and services include DocuSign eSignature, which supports electronic signing and authentication, as well as tools for contract lifecycle management, agreement preparation, identity verification, notarial services and workflow automation.
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