Daniel D. Springer Sells 147,009 Shares of DocuSign, Inc. (NASDAQ:DOCU) Stock

DocuSign, Inc. (NASDAQ:DOCU – Get Rating) Director Daniel D. Springer sold 147,009 shares of the business’s stock in a transaction dated Tuesday, January 17th. The stock was sold at an average price of $58.48, for a total transaction of $8,597,086.32. Following the sale, the director now directly owns 1,524,335 shares in the company, valued at approximately $89,143,110.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

DocuSign Stock Performance

Shares of DOCU stock opened at $56.51 on Friday. DocuSign, Inc. has a one year low of $39.57 and a one year high of $131.91. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.02 and a current ratio of 1.02. The company has a 50 day moving average price of $52.16 and a 200 day moving average price of $55.74. The firm has a market capitalization of $11.36 billion, a price-to-earnings ratio of -85.62 and a beta of 1.00.

DocuSign (NASDAQ:DOCU – Get Rating) last issued its quarterly earnings results on Thursday, December 8th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.08) by $0.13. DocuSign had a negative net margin of 5.45% and a negative return on equity of 18.86%. The firm had revenue of $645.46 million during the quarter, compared to analyst estimates of $626.07 million. Sell-side analysts anticipate that DocuSign, Inc. will post -0.1 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on DOCU. Morgan Stanley downgraded shares of DocuSign from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $73.00 to $47.00 in a report on Monday, October 3rd. Robert W. Baird reduced their price target on shares of DocuSign from $70.00 to $50.00 and set a “neutral” rating on the stock in a report on Monday, December 5th. Jefferies Financial Group raised shares of DocuSign from a “hold” rating to a “buy” rating and upped their price target for the company from $50.00 to $70.00 in a report on Thursday, January 5th. Wedbush raised shares of DocuSign from an “underperform” rating to a “neutral” rating and set a $55.00 price objective for the company in a research report on Wednesday, October 12th. Finally, UBS Group cut their price objective on shares of DocuSign from $65.00 to $52.00 and set a “neutral” rating for the company in a research report on Monday, December 5th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, DocuSign currently has a consensus rating of “Hold” and a consensus target price of $59.71.

Institutional Investors Weigh In On DocuSign

Large investors have recently made changes to their positions in the business. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its position in shares of DocuSign by 440.0% in the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 270 shares of the company’s stock worth $28,000 after acquiring an additional 220 shares in the last quarter. Ronald Blue Trust Inc. purchased a new position in shares of DocuSign in the second quarter valued at $42,000. Glassman Wealth Services boosted its stake in shares of DocuSign by 963.0% in the second quarter. Glassman Wealth Services now owns 489 shares of the company’s stock valued at $28,000 after purchasing an additional 443 shares during the period. Evermay Wealth Management LLC purchased a new position in shares of DocuSign in the fourth quarter valued at $28,000. Finally, Whittier Trust Co. purchased a new position in shares of DocuSign in the third quarter valued at $30,000. Institutional investors and hedge funds own 76.18% of the company’s stock.

DocuSign Company Profile

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DocuSign, Inc provides electronic signature software in the United States and internationally. The company provides e-signature solution that enables businesses to digitally prepare, sign, act on, and manage agreements. It also offers CLM, which automates workflows across the entire agreement process; Insights that use artificial intelligence (AI) to search and analyze agreements by legal concepts and clauses; Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce; Negotiate for Salesforce that supports for approvals, document comparisons, and version control; Analyzer, which helps customers understand what they're signing before they sign it; and CLM+ that provide AI-driven contract lifecycle management.