Blake Jeffrey Grayson Sells 16,111 Shares of DocuSign, Inc. (NASDAQ:DOCU) Stock

DocuSign, Inc. (NASDAQ:DOCU) CFO Blake Jeffrey Grayson sold 16,111 shares of the company’s stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $83.20, for a total value of $1,340,435.20. Following the sale, the chief financial officer now directly owns 93,960 shares in the company, valued at approximately $7,817,472. This represents a 14.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Blake Jeffrey Grayson also recently made the following trade(s):

• On Friday, February 14th, Blake Jeffrey Grayson sold 8,000 shares of DocuSign stock. The stock was sold at an average price of $86.90, for a total transaction of $695,200.00.

DocuSign Stock Up 3.5 %

Shares of NASDAQ DOCU opened at $88.06 on Friday. The stock has a market cap of $17.79 billion, a P/E ratio of 18.16, a P/E/G ratio of 6.94 and a beta of 1.02. The firm’s 50-day simple moving average is $87.54 and its 200 day simple moving average is $80.15. DocuSign, Inc. has a fifty-two week low of $48.70 and a fifty-two week high of $107.86.

DocuSign (NASDAQ:DOCU) last released its quarterly 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. The company had revenue of $776.25 million for the quarter, compared to the consensus estimate of $760.94 million. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. DocuSign’s revenue was up 9.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.76 EPS. On average, sell-side analysts anticipate that DocuSign, Inc. will post 1.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On DocuSign

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DOCU. FMR LLC increased its position in shares of DocuSign by 178.2% during the 4th quarter. FMR LLC now owns 6,101,024 shares of the company’s stock valued at $548,726,000 after purchasing an additional 3,908,139 shares during the period. Invesco Ltd. boosted its stake in DocuSign by 283.9% during the fourth quarter. Invesco Ltd. now owns 3,447,275 shares of the company’s stock valued at $310,048,000 after buying an additional 2,549,310 shares in the last quarter. Norges Bank bought a new position in DocuSign during the fourth quarter valued at about $223,196,000. Arrowstreet Capital Limited Partnership grew its holdings in DocuSign by 201.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,158,311 shares of the company’s stock worth $194,118,000 after acquiring an additional 1,442,639 shares during the period. Finally, Jericho Capital Asset Management L.P. raised its position in DocuSign by 34.0% in the fourth quarter. Jericho Capital Asset Management L.P. now owns 4,754,753 shares of the company’s stock worth $427,642,000 after acquiring an additional 1,205,500 shares in the last quarter. Institutional investors own 77.64% of the company’s stock.

Analysts Set New Price Targets

DOCU has been the subject of a number of recent research reports. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $90.00 price objective on shares of DocuSign in a research report on Friday, March 14th. Bank of America lowered their target price on DocuSign from $112.00 to $98.00 and set a “neutral” rating for the company in a report on Friday, March 14th. Wells Fargo & Company raised their price target on DocuSign from $70.00 to $73.00 and gave the stock an “underweight” rating 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 research note on Friday, March 14th. Finally, Hsbc Global Res upgraded DocuSign to a “moderate sell” rating in a research note on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $95.00.

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.