James P. Shaughnessy Sells 7,500 Shares of DocuSign, Inc. (NASDAQ:DOCU) Stock

DocuSign, Inc. (NASDAQ:DOCU) insider James P. Shaughnessy sold 7,500 shares of the stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $81.31, for a total transaction of $609,825.00. Following the transaction, the insider now owns 45,875 shares in the company, valued at approximately $3,730,096.25. The trade was a 14.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

DocuSign Stock Up 0.9 %

Shares of DocuSign stock traded up $0.71 during trading hours on Wednesday, hitting $83.40. 1,657,630 shares of the company’s stock traded hands, compared to its average volume of 2,687,199. DocuSign, Inc. has a twelve month low of $48.70 and a twelve month high of $107.86. The stock has a 50 day simple moving average of $86.84 and a 200-day simple moving average of $81.90. The company has a market cap of $16.89 billion, a PE ratio of 17.20, a PEG ratio of 6.94 and a beta of 1.02.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings data on Thursday, March 13th. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.02. The company had revenue of $776.25 million for the quarter, compared to the consensus estimate of $760.94 million. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. DocuSign’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.76 EPS. As a group, equities research analysts predict that DocuSign, Inc. will post 1.17 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on DOCU. HSBC reissued a “reduce” rating on shares of DocuSign in a research note on Friday, December 6th. Robert W. Baird set a $93.00 price objective on DocuSign in a report on Friday, March 14th. William Blair upgraded DocuSign from a “market perform” rating to an “outperform” rating in a report on Monday, March 17th. Royal Bank of Canada restated a “sector perform” rating and issued a $90.00 price target on shares of DocuSign in a report on Friday, March 14th. Finally, Piper Sandler boosted their price objective on shares of DocuSign from $60.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $95.83.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Kestra Investment Management LLC acquired a new position in shares of DocuSign in the 4th quarter valued at about $30,000. First Horizon Advisors Inc. lifted its position in shares of DocuSign by 102.6% in the 4th quarter. First Horizon Advisors Inc. now owns 397 shares of the company’s stock valued at $36,000 after acquiring an additional 201 shares in the last quarter. Modus Advisors LLC acquired a new position in DocuSign in the 4th quarter worth approximately $36,000. Wood Tarver Financial Group LLC purchased a new position in DocuSign during the 4th quarter worth approximately $37,000. Finally, McIlrath & Eck LLC raised its stake in DocuSign by 476.0% during the 4th quarter. McIlrath & Eck LLC now owns 432 shares of the company’s stock valued at $39,000 after purchasing an additional 357 shares during the period. 77.64% of the stock is currently 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.