Robert Chatwani Sells 15,706 Shares of DocuSign, Inc. (NASDAQ:DOCU) Stock

DocuSign, Inc. (NASDAQ:DOCU) insider Robert Chatwani sold 15,706 shares of the stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $83.19, for a total transaction of $1,306,582.14. Following the transaction, the insider now directly owns 76,842 shares in the company, valued at $6,392,485.98. This trade represents a 16.97 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

DocuSign Stock Performance

NASDAQ:DOCU opened at $88.06 on Friday. The firm has a market cap of $17.79 billion, a price-to-earnings ratio of 18.16, a price-to-earnings-growth ratio of 6.94 and a beta of 1.02. DocuSign, Inc. has a 52 week low of $48.70 and a 52 week high of $107.86. The firm has a 50-day moving average price of $87.54 and a two-hundred day moving average price of $80.15.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings data on Thursday, March 13th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.84 by $0.02. The firm had revenue of $776.25 million during 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 company’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter last year, the business posted $0.76 EPS. As a group, sell-side analysts forecast that DocuSign, Inc. will post 1.17 earnings per share for the current year.

Institutional Investors Weigh In On DocuSign

Several large investors have recently modified their holdings of DOCU. Oppenheimer Asset Management Inc. increased its stake 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 purchasing an additional 481 shares during the last quarter. Metis Global Partners LLC purchased a new stake in shares of DocuSign during the 3rd quarter worth approximately $224,000. CIBC Asset Management Inc increased its stake in shares of DocuSign by 5.4% during the 3rd quarter. CIBC Asset Management Inc now owns 7,293 shares of the company’s stock worth $453,000 after purchasing an additional 372 shares during the last quarter. Natixis Advisors LLC purchased a new stake in shares of DocuSign during the 3rd quarter worth approximately $873,000. Finally, Claro Advisors LLC purchased a new stake in shares of DocuSign during the 3rd quarter worth approximately $236,000. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on DOCU. Piper Sandler increased their price objective on shares of DocuSign from $60.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Robert W. Baird set a $93.00 target price on shares of DocuSign in a report on Friday, March 14th. Wells Fargo & Company upped their target price on shares of DocuSign from $70.00 to $73.00 and gave the stock an “underweight” rating in a report on Friday, March 14th. JPMorgan Chase & Co. upgraded shares of DocuSign from an “underweight” rating to a “neutral” rating and upped their target price for the stock from $70.00 to $75.00 in a report on Monday, March 10th. Finally, Bank of America lowered their target price on shares of DocuSign from $112.00 to $98.00 and set a “neutral” rating on the stock in a report on Friday, March 14th. Two 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 stock. According to MarketBeat, DocuSign currently has an average rating of “Hold” and an average price target of $95.00.

DocuSign Company Profile

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.