DocuSign, Inc. (NASDAQ:DOCU) Director Sells $900,000.00 in Stock

DocuSign, Inc. (NASDAQ:DOCU) Director Peter Solvik sold 15,000 shares of the business’s stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $60.00, for a total transaction of $900,000.00. Following the transaction, the director now owns 783 shares of the company’s stock, valued at $46,980. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

DocuSign Stock Up 0.4 %

DocuSign stock opened at $59.48 on Friday. DocuSign, Inc. has a 52-week low of $38.11 and a 52-week high of $64.76. The company’s 50 day moving average is $55.36 and its two-hundred day moving average is $51.47. The firm has a market cap of $12.22 billion, a PE ratio of 165.22, a price-to-earnings-growth ratio of 5.22 and a beta of 0.89.

DocuSign (NASDAQ:DOCU) last posted its earnings results on Thursday, March 7th. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.06. The firm had revenue of $712.39 million for the quarter, compared to the consensus estimate of $698.05 million. DocuSign had a net margin of 2.68% and a return on equity of 13.91%. On average, equities research analysts anticipate that DocuSign, Inc. will post 0.86 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of DOCU. Coatue Management LLC acquired a new stake in shares of DocuSign in the fourth quarter valued at about $288,274,000. Capital World Investors lifted its stake in shares of DocuSign by 128.3% in the first quarter. Capital World Investors now owns 5,683,838 shares of the company’s stock valued at $608,853,000 after purchasing an additional 3,193,727 shares during the period. Vanguard Group Inc. lifted its stake in shares of DocuSign by 20.3% in the first quarter. Vanguard Group Inc. now owns 17,308,877 shares of the company’s stock valued at $1,854,127,000 after purchasing an additional 2,917,683 shares during the period. Norges Bank purchased a new position in DocuSign during the 4th quarter valued at about $133,826,000. Finally, Price T Rowe Associates Inc. MD increased its holdings in DocuSign by 256.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,545,176 shares of the company’s stock valued at $148,384,000 after acquiring an additional 1,831,001 shares in the last quarter. 77.64% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. JMP Securities reissued a “market outperform” rating and set a $84.00 target price on shares of DocuSign in a research note on Monday, January 22nd. Morgan Stanley raised shares of DocuSign from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $49.00 to $64.00 in a research note on Tuesday, January 16th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $50.00 price objective on shares of DocuSign in a research note on Friday, January 12th. TheStreet raised shares of DocuSign from a “d+” rating to a “c-” rating in a research note on Tuesday, December 19th. Finally, Wells Fargo & Company dropped their price objective on shares of DocuSign from $55.00 to $45.00 and set an “underweight” rating for the company in a research note on Monday, February 5th. Three analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, DocuSign presently has a consensus rating of “Hold” and a consensus price target of $58.33.

About DocuSign

DocuSign, Inc provides electronic signature solution in the United States and internationally. The company provides DocuSign 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; and Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce.