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

DocuSign, Inc. (NASDAQ:DOCU) Director Teresa Briggs sold 534 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $56.56, for a total transaction of $30,203.04. Following the sale, the director now directly owns 7,202 shares in the company, valued at approximately $407,345.12. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

DocuSign Price Performance

NASDAQ:DOCU opened at $55.69 on Wednesday. The company has a market capitalization of $11.40 billion, a price-to-earnings ratio of 107.10, a PEG ratio of 5.99 and a beta of 0.93. The business has a 50 day moving average of $55.71 and a 200 day moving average of $56.12. DocuSign, Inc. has a 1-year low of $38.11 and a 1-year high of $64.76.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings results 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 net margin of 34.56% and a return on equity of 16.18%. The firm 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 firm posted $0.09 earnings per share. The business’s revenue was up 7.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that DocuSign, Inc. will post 0.99 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $84.00 price target on shares of DocuSign in a report on Thursday, September 5th. Citigroup boosted their target price on DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Morgan Stanley lowered their price target on DocuSign from $65.00 to $62.00 and set an “equal weight” rating on the stock in a report on Friday, June 7th. Royal Bank of Canada boosted their price objective on DocuSign from $52.00 to $57.00 and gave the stock a “sector perform” rating in a report on Friday, September 6th. Finally, Wells Fargo & Company upped their price objective on shares of DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a research report on Friday, September 6th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $61.45.

Institutional Trading of DocuSign

Several hedge funds have recently added to or reduced their stakes in the business. Massmutual Trust Co. FSB ADV increased its holdings in shares of DocuSign by 5,000.0% in the second quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company’s stock worth $27,000 after buying an additional 500 shares during the period. Mather Group LLC. grew its position in DocuSign by 4,338.5% during the 2nd quarter. Mather Group LLC. now owns 577 shares of the company’s stock worth $31,000 after acquiring an additional 564 shares during the last quarter. Register Financial Advisors LLC purchased a new position in DocuSign in the 1st quarter worth approximately $37,000. ICA Group Wealth Management LLC bought a new stake in DocuSign in the fourth quarter valued at approximately $39,000. Finally, nVerses Capital LLC purchased a new stake in shares of DocuSign during the second quarter valued at approximately $48,000. 77.64% of the stock is owned by 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.