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 company’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $81.31, for a total value of $609,825.00. Following the sale, the insider now owns 45,875 shares in the company, valued at approximately $3,730,096.25. This represents 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 Performance

DOCU stock opened at $83.40 on Thursday. The company has a market capitalization of $16.89 billion, a PE ratio of 17.20, a price-to-earnings-growth ratio of 6.94 and a beta of 1.02. DocuSign, Inc. has a one year low of $48.70 and a one year high of $107.86. The company’s 50 day moving average price is $86.67 and its two-hundred day moving average price is $81.91.

DocuSign (NASDAQ:DOCU) last issued its earnings results on Thursday, March 13th. The company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.02. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. The company had revenue of $776.25 million for the quarter, compared to analysts’ expectations of $760.94 million. During the same quarter last year, the company earned $0.76 EPS. The firm’s revenue was up 9.0% compared to the same quarter last year. On average, research analysts predict that DocuSign, Inc. will post 1.17 EPS for the current year.

Institutional Investors Weigh In On DocuSign

Several institutional investors have recently bought and sold shares of the stock. Citizens Financial Group Inc. RI lifted its position in DocuSign by 2.3% in the fourth quarter. Citizens Financial Group Inc. RI now owns 5,990 shares of the company’s stock valued at $539,000 after purchasing an additional 133 shares during the last quarter. Rakuten Securities Inc. increased its stake in shares of DocuSign by 20.9% in the fourth quarter. Rakuten Securities Inc. now owns 797 shares of the company’s stock worth $72,000 after buying an additional 138 shares during the period. Synergy Financial Group LTD raised its holdings in DocuSign by 3.4% during the 4th quarter. Synergy Financial Group LTD now owns 4,241 shares of the company’s stock valued at $381,000 after buying an additional 140 shares during the last quarter. M&T Bank Corp boosted its position in DocuSign by 1.3% during the 4th quarter. M&T Bank Corp now owns 10,840 shares of the company’s stock valued at $975,000 after buying an additional 143 shares during the period. Finally, TD Waterhouse Canada Inc. grew its holdings in DocuSign by 34.5% in the 4th quarter. TD Waterhouse Canada Inc. now owns 557 shares of the company’s stock worth $50,000 after acquiring an additional 143 shares during the last quarter. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

DOCU has been the topic of a number of analyst reports. Piper Sandler upped their target price on shares of DocuSign from $60.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Citigroup increased their price objective on DocuSign from $113.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, March 14th. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a research report on Friday, March 14th. Wells Fargo & Company upped their target price on DocuSign from $70.00 to $73.00 and gave the stock an “underweight” rating in a research note on Friday, March 14th. Finally, JPMorgan Chase & Co. upgraded DocuSign from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $70.00 to $75.00 in a research report on Monday, March 10th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $95.83.

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.