DocuSign, Inc. (NASDAQ:DOCU) Director Sells $3,537,792.72 in Stock

DocuSign, Inc. (NASDAQ:DOCU) Director Daniel D. Springer sold 70,983 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $49.84, for a total value of $3,537,792.72. Following the transaction, the director now directly owns 891,373 shares of the company’s stock, valued at $44,426,030.32. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

DocuSign Stock Up 2.1 %

DOCU opened at $52.10 on Friday. The business has a 50 day moving average price of $53.46 and a two-hundred day moving average price of $55.75. The company has a market cap of $10.67 billion, a PE ratio of 100.19, a P/E/G ratio of 8.34 and a beta of 0.94. DocuSign, Inc. has a 52 week low of $38.11 and a 52 week high of $64.76.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings data on Thursday, June 6th. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.20 by $0.09. The firm had revenue of $709.64 million during the quarter, compared to the consensus estimate of $706.07 million. DocuSign had a return on equity of 15.44% and a net margin of 3.81%. As a group, sell-side analysts expect that DocuSign, Inc. will post 0.88 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on DOCU. UBS Group raised DocuSign from a “sell” rating to a “neutral” rating and upped their target price for the company from $48.00 to $62.00 in a research report on Friday, April 12th. Citigroup decreased their target price on DocuSign from $93.00 to $86.00 and set a “buy” rating for the company in a research report on Wednesday, June 5th. Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a research report on Friday, June 7th. Royal Bank of Canada decreased their target price on DocuSign from $59.00 to $52.00 and set a “sector perform” rating for the company in a research report on Friday, June 7th. Finally, Morgan Stanley decreased their target price on DocuSign from $65.00 to $62.00 and set an “equal weight” rating for the company in a research report on Friday, June 7th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, DocuSign has an average rating of “Hold” and a consensus target price of $59.36.

Hedge Funds Weigh In On DocuSign

Large investors have recently modified their holdings of the business. Massmutual Trust Co. FSB ADV raised its stake in shares of DocuSign by 5,000.0% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company’s stock worth $27,000 after buying an additional 500 shares in the last quarter. Capital Analysts LLC raised its stake in shares of DocuSign by 781.7% during the 4th quarter. Capital Analysts LLC now owns 529 shares of the company’s stock worth $31,000 after buying an additional 469 shares in the last quarter. Mather Group LLC. raised its stake in shares of DocuSign by 4,338.5% during the 2nd quarter. Mather Group LLC. now owns 577 shares of the company’s stock worth $31,000 after buying an additional 564 shares in the last quarter. Register Financial Advisors LLC purchased a new position in shares of DocuSign during the 1st quarter worth approximately $37,000. Finally, ICA Group Wealth Management LLC purchased a new position in shares of DocuSign during the 4th quarter worth approximately $39,000. 77.64% of the stock is owned by hedge funds and other institutional investors.

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.