Insider Selling: DocuSign, Inc. (NASDAQ:DOCU) Insider Sells 15,706 Shares of Stock

DocuSign, Inc. (NASDAQ:DOCU) insider Robert Chatwani sold 15,706 shares of the business’s 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 completion of the sale, the insider now owns 76,842 shares in the company, valued at approximately $6,392,485.98. This trade represents a 16.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

DocuSign Price Performance

NASDAQ DOCU traded down $0.50 on Thursday, hitting $85.11. 2,234,214 shares of the company were exchanged, compared to its average volume of 2,607,510. The firm has a market capitalization of $17.19 billion, a P/E ratio of 17.55, a price-to-earnings-growth ratio of 6.94 and a beta of 1.02. DocuSign, Inc. has a twelve month low of $48.70 and a twelve month high of $107.86. The company’s 50 day moving average price is $87.67 and its 200-day moving average price is $79.91.

DocuSign (NASDAQ:DOCU) last issued its earnings results on Thursday, March 13th. The company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates 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%. The firm’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.76 EPS. As a group, equities analysts expect that DocuSign, Inc. will post 1.17 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on DOCU shares. Robert W. Baird set a $93.00 price target on shares of DocuSign in a research report on Friday, March 14th. William Blair upgraded shares of DocuSign from a “market perform” rating to an “outperform” rating in a research report on Monday. JPMorgan Chase & Co. upgraded shares of DocuSign from an “underweight” rating to a “neutral” rating and boosted their price target for the stock from $70.00 to $75.00 in a research report on Monday, March 10th. UBS Group dropped their price target on shares of DocuSign from $100.00 to $90.00 and set a “neutral” rating on the stock in a research report on Friday, March 14th. Finally, Morgan Stanley boosted their price target on shares of DocuSign from $62.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $95.00.

Hedge Funds Weigh In On DocuSign

Large investors have recently made changes to their positions in the business. Toronto Dominion Bank increased its holdings in shares of DocuSign by 30.3% in the 3rd quarter. Toronto Dominion Bank now owns 26,159 shares of the company’s stock valued at $1,624,000 after purchasing an additional 6,081 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of DocuSign by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,328,355 shares of the company’s stock valued at $82,478,000 after purchasing an additional 16,014 shares during the period. Quantinno Capital Management LP grew its stake in shares of DocuSign by 39.5% in the 3rd quarter. Quantinno Capital Management LP now owns 201,546 shares of the company’s stock valued at $12,514,000 after buying an additional 57,104 shares in the last quarter. Rhumbline Advisers grew its stake in shares of DocuSign by 118.8% in the 4th quarter. Rhumbline Advisers now owns 608,123 shares of the company’s stock valued at $54,695,000 after buying an additional 330,136 shares in the last quarter. Finally, KBC Group NV grew its stake in shares of DocuSign by 32.7% in the 4th quarter. KBC Group NV now owns 1,535,107 shares of the company’s stock valued at $138,067,000 after buying an additional 378,233 shares in the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.

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.