DocuSign, Inc. (NASDAQ:DOCU) CFO Sells $778,576.92 in Stock

DocuSign, Inc. (NASDAQ:DOCU) CFO Blake Jeffrey Grayson sold 14,036 shares of the stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $55.47, for a total value of $778,576.92. Following the sale, the chief financial officer now owns 87,611 shares in the company, valued at $4,859,782.17. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Blake Jeffrey Grayson also recently made the following trade(s):

• On Thursday, June 20th, Blake Jeffrey Grayson sold 49,123 shares of DocuSign stock. The shares were sold at an average price of $51.15, for a total value of $2,512,641.45.

DocuSign Price Performance

Shares of NASDAQ:DOCU traded up $0.95 during midday trading on Wednesday, hitting $56.64. The company had a trading volume of 2,379,565 shares, compared to its average volume of 2,684,469. The company has a market cap of $11.60 billion, a price-to-earnings ratio of 108.92, a PEG ratio of 5.99 and a beta of 0.93. The company has a fifty day moving average of $55.76 and a two-hundred day moving average of $56.13. DocuSign, Inc. has a 12-month low of $38.11 and a 12-month high of $64.76.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings data on Thursday, September 5th. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.80 by $0.17. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. The firm had revenue of $736.03 million for the quarter, compared to the consensus estimate of $727.20 million. During the same quarter last year, the company earned $0.09 earnings per share. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. Research analysts expect that DocuSign, Inc. will post 0.99 earnings per share for the current fiscal year.

Institutional Investors Weigh In On DocuSign

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in DocuSign by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 21,399,739 shares of the company’s stock valued at $1,272,214,000 after acquiring an additional 417,352 shares during the period. Coatue Management LLC purchased a new position in DocuSign in the 4th quarter worth approximately $288,274,000. American Century Companies Inc. boosted its stake in DocuSign by 1.9% in the 2nd quarter. American Century Companies Inc. now owns 4,099,400 shares of the company’s stock worth $219,318,000 after purchasing an additional 75,026 shares during the period. Renaissance Technologies LLC grew its holdings in DocuSign by 18.3% during the 2nd quarter. Renaissance Technologies LLC now owns 3,729,314 shares of the company’s stock valued at $199,518,000 after buying an additional 576,414 shares in the last quarter. Finally, Pacer Advisors Inc. raised its position in shares of DocuSign by 77.9% during the second quarter. Pacer Advisors Inc. now owns 3,519,969 shares of the company’s stock valued at $188,318,000 after buying an additional 1,541,816 shares during the last quarter. Institutional investors own 77.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on DOCU. JMP Securities reissued a “market outperform” rating and issued a $84.00 target price on shares of DocuSign in a research report on Thursday, September 5th. Morgan Stanley decreased their price objective on shares of DocuSign from $65.00 to $62.00 and set an “equal weight” rating for the company in a report on Friday, June 7th. Wells Fargo & Company increased their price objective on shares of DocuSign from $48.00 to $50.00 and gave the company an “underweight” rating in a research report on Friday, September 6th. Royal Bank of Canada lifted their target price on shares of DocuSign from $52.00 to $57.00 and gave the stock a “sector perform” rating in a research report on Friday, September 6th. Finally, Piper Sandler decreased their target price on shares of DocuSign from $65.00 to $60.00 and set a “neutral” rating for the company in a research note on Friday, June 7th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $61.45.

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.