Teresa Briggs Sells 534 Shares of DocuSign, Inc. (NASDAQ:DOCU) Stock

DocuSign, Inc. (NASDAQ:DOCU) Director Teresa Briggs sold 534 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $56.56, for a total value of $30,203.04. Following the transaction, the director now directly owns 7,202 shares of the company’s stock, valued at approximately $407,345.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

DocuSign Trading Up 1.7 %

Shares of DOCU opened at $56.64 on Thursday. DocuSign, Inc. has a twelve month low of $38.11 and a twelve month high of $64.76. The firm has a market capitalization of $11.60 billion, a P/E ratio of 108.92, a price-to-earnings-growth ratio of 5.99 and a beta of 0.93. The stock’s fifty day simple moving average is $55.76 and its 200 day simple moving average is $56.13.

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

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. JMP Securities reaffirmed a “market outperform” rating and set a $84.00 price objective on shares of DocuSign in a research note on Thursday, September 5th. Morgan Stanley decreased their price target on shares of DocuSign from $65.00 to $62.00 and set an “equal weight” rating on the stock in a research note on Friday, June 7th. Citigroup boosted their price objective on shares of DocuSign from $86.00 to $87.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Robert W. Baird upped their price objective on shares of DocuSign from $55.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Finally, Piper Sandler lowered 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 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, DocuSign has an average rating of “Hold” and an average price target of $61.45.

Institutional Investors Weigh In On DocuSign

Several institutional investors have recently bought and sold shares of DOCU. Gilbert & Cook Inc. lifted its holdings in shares of DocuSign by 7.7% during the 4th quarter. Gilbert & Cook Inc. now owns 8,497 shares of the company’s stock valued at $505,000 after acquiring an additional 604 shares in the last quarter. Principal Securities Inc. purchased a new stake in shares of DocuSign in the fourth quarter worth about $141,000. Dimensional Fund Advisors LP boosted its position in shares of DocuSign by 30.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 450,229 shares of the company’s stock worth $26,770,000 after buying an additional 104,536 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of DocuSign by 0.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 83,899 shares of the company’s stock valued at $4,617,000 after buying an additional 239 shares in the last quarter. Finally, Norges Bank acquired a new position in DocuSign during the 4th quarter worth approximately $133,826,000. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

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.