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

DocuSign, Inc. (NASDAQ:DOCU) Director Teresa Briggs sold 534 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $87.41, for a total transaction of $46,676.94. Following the completion of the sale, the director now owns 8,270 shares of the company’s stock, valued at approximately $722,880.70. This trade represents a 6.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

DocuSign Price Performance

NASDAQ DOCU opened at $85.01 on Wednesday. The firm has a market capitalization of $17.17 billion, a price-to-earnings ratio of 17.53, a P/E/G ratio of 6.94 and a beta of 1.02. The company’s fifty day moving average is $87.75 and its two-hundred day moving average is $79.87. DocuSign, Inc. has a 52-week low of $48.70 and a 52-week high of $107.86.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings results 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 analyst estimates of $760.94 million. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. The business’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period last year, the business posted $0.76 EPS. As a group, sell-side analysts expect that DocuSign, Inc. will post 1.17 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on DOCU. Royal Bank of Canada reiterated a “sector perform” rating and issued a $90.00 target price on shares of DocuSign in a research report on Friday, March 14th. UBS Group cut their target price on shares of DocuSign from $100.00 to $90.00 and set a “neutral” rating for the company in a research report on Friday, March 14th. Bank of America cut their target price on shares of DocuSign from $112.00 to $98.00 and set a “neutral” rating for the company in a research report on Friday, March 14th. Citigroup increased their target price on shares of DocuSign from $113.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, March 14th. Finally, Jefferies Financial Group raised their price target on shares of DocuSign from $80.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, DocuSign has a consensus rating of “Hold” and an average target price of $95.00.

Institutional Trading of DocuSign

Several hedge funds and other institutional investors have recently bought and sold shares of DOCU. Apollon Wealth Management LLC acquired a new stake in DocuSign in the 3rd quarter worth $203,000. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of DocuSign by 10.4% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 475,113 shares of the company’s stock worth $29,500,000 after acquiring an additional 44,615 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of DocuSign by 211.4% during the 3rd quarter. Victory Capital Management Inc. now owns 409,877 shares of the company’s stock worth $25,449,000 after acquiring an additional 278,252 shares during the period. Oppenheimer Asset Management Inc. lifted its holdings in shares of DocuSign by 9.7% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 5,442 shares of the company’s stock worth $338,000 after acquiring an additional 481 shares during the period. Finally, Metis Global Partners LLC bought a new position in shares of DocuSign during the 3rd quarter worth about $224,000. 77.64% of the stock is currently owned by institutional investors and hedge funds.

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.