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 company’s stock in a transaction on Wednesday, March 19th. The shares were 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 directly owns 76,842 shares in the company, valued at $6,392,485.98. This trade represents a 16.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

DocuSign Price Performance

DOCU stock opened at $88.06 on Friday. DocuSign, Inc. has a 1 year low of $48.70 and a 1 year high of $107.86. The firm has a market capitalization of $17.79 billion, a PE ratio of 18.16, a price-to-earnings-growth ratio of 6.94 and a beta of 1.02. The business has a 50 day simple moving average of $87.54 and a 200-day simple moving average of $80.31.

DocuSign (NASDAQ:DOCU) last issued its earnings results on Thursday, March 13th. The company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.02. The business had revenue of $776.25 million during 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 company’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period last year, the company earned $0.76 EPS. On average, equities research analysts expect that DocuSign, Inc. will post 1.17 EPS for the current year.

Hedge Funds Weigh In On DocuSign

Several institutional investors and hedge funds have recently bought and sold shares of the company. Itau Unibanco Holding S.A. purchased a new stake in shares of DocuSign during the 3rd quarter valued at approximately $28,000. Kestra Investment Management LLC purchased a new position in DocuSign in the fourth quarter worth approximately $30,000. Brooklyn Investment Group acquired a new stake in DocuSign during the third quarter worth $33,000. Modus Advisors LLC purchased a new stake in DocuSign in the fourth quarter valued at $36,000. Finally, First Horizon Advisors Inc. lifted its stake in shares of DocuSign by 102.6% in the 4th quarter. First Horizon Advisors Inc. now owns 397 shares of the company’s stock valued at $36,000 after purchasing an additional 201 shares during the last quarter. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. William Blair raised shares of DocuSign from a “market perform” rating to an “outperform” rating in a report on Monday, March 17th. Hsbc Global Res raised DocuSign to a “moderate sell” rating in a report on Friday, December 6th. UBS Group decreased their price target on DocuSign from $100.00 to $90.00 and set a “neutral” rating for the company in a report on Friday, March 14th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $90.00 target price on shares of DocuSign in a report on Friday, March 14th. Finally, HSBC reissued a “reduce” rating on shares of DocuSign in a report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus 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.