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 dated 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 directly owns 8,270 shares of the company’s stock, valued at $722,880.70. The trade was a 6.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

DocuSign Price Performance

Shares of DOCU opened at $85.61 on Thursday. The company has a market capitalization of $17.30 billion, a price-to-earnings ratio of 17.65, a P/E/G ratio of 6.94 and a beta of 1.02. DocuSign, Inc. has a fifty-two week low of $48.70 and a fifty-two week high of $107.86. The business’s 50-day moving average is $87.67 and its 200-day moving average is $79.91.

DocuSign (NASDAQ:DOCU) last announced its quarterly earnings results on Thursday, March 13th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.84 by $0.02. The business had revenue of $776.25 million during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.76 EPS. Equities research analysts expect that DocuSign, Inc. will post 1.17 earnings per share for the current fiscal year.

Analysts Set New Price Targets

DOCU has been the subject of a number of research analyst reports. JMP Securities reissued a “market outperform” rating and issued a $124.00 price target on shares of DocuSign in a report on Tuesday, January 7th. Piper Sandler boosted their price objective on DocuSign from $60.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Robert W. Baird set a $93.00 price objective on DocuSign in a report on Friday, March 14th. Wedbush restated a “neutral” rating and set a $100.00 price objective on shares of DocuSign in a report on Friday, March 14th. Finally, William Blair upgraded DocuSign from a “market perform” rating to an “outperform” rating in a report on Monday. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $95.00.

Institutional Investors Weigh In On DocuSign

Large investors have recently made changes to their positions in the company. Toronto Dominion Bank grew its stake 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 buying an additional 6,081 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in DocuSign by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,328,355 shares of the company’s stock worth $82,478,000 after purchasing an additional 16,014 shares during the period. Quantinno Capital Management LP boosted its position in DocuSign by 39.5% during the third quarter. Quantinno Capital Management LP now owns 201,546 shares of the company’s stock worth $12,514,000 after purchasing an additional 57,104 shares during the period. Rhumbline Advisers boosted its position in DocuSign by 118.8% during the fourth quarter. Rhumbline Advisers now owns 608,123 shares of the company’s stock worth $54,695,000 after purchasing an additional 330,136 shares during the period. Finally, KBC Group NV boosted its position in DocuSign by 32.7% during the fourth quarter. KBC Group NV now owns 1,535,107 shares of the company’s stock worth $138,067,000 after purchasing an additional 378,233 shares during the period. Institutional investors 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.