Robert Chatwani Sells 15,902 Shares of Docusign (NASDAQ:DOCU) Stock

Docusign Inc. (NASDAQ:DOCU) insider Robert Chatwani sold 15,902 shares of the company’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $43.01, for a total transaction of $683,945.02. Following the completion of the transaction, the insider owned 72,805 shares of the company’s stock, valued at $3,131,343.05. This trade represents a 17.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Docusign Price Performance

DOCU traded down $0.76 during trading hours on Monday, reaching $42.71. 5,124,249 shares of the stock traded hands, compared to its average volume of 4,462,764. Docusign Inc. has a fifty-two week low of $40.16 and a fifty-two week high of $86.65. The company has a market cap of $8.16 billion, a price-to-earnings ratio of 27.73, a PEG ratio of 1.32 and a beta of 0.92. The firm’s fifty day simple moving average is $47.17 and its two-hundred day simple moving average is $52.50.

Docusign (NASDAQ:DOCU) last issued its quarterly earnings data on Thursday, June 4th. The company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.10. The firm had revenue of $830.24 million for the quarter, compared to analyst estimates of $824.71 million. Docusign had a net margin of 9.59% and a return on equity of 17.48%. The firm’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.90 EPS. On average, research analysts predict that Docusign Inc. will post 1.97 earnings per share for the current year.

Docusign declared that its Board of Directors has approved a share repurchase plan on Tuesday, March 17th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the company to reacquire up to 21% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on DOCU shares. Morgan Stanley dropped their price objective on Docusign from $90.00 to $69.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 18th. Bank of America began coverage on Docusign in a research note on Tuesday, March 31st. They set an “underperform” rating and a $52.00 target price for the company. Royal Bank Of Canada dropped their price target on shares of Docusign from $70.00 to $55.00 and set a “sector perform” rating for the company in a research note on Wednesday, March 18th. JPMorgan Chase & Co. cut their price target on shares of Docusign from $78.00 to $65.00 and set a “neutral” rating on the stock in a report on Wednesday, March 18th. Finally, Wall Street Zen raised shares of Docusign from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 13th. Three investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Docusign presently has a consensus rating of “Hold” and a consensus price target of $60.27.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Central Pacific Bank Trust Division bought a new position in shares of Docusign during the 4th quarter valued at about $25,000. Modus Advisors LLC acquired a new stake in Docusign during the fourth quarter valued at approximately $27,000. Torren Management LLC bought a new stake in Docusign during the fourth quarter worth approximately $28,000. True Wealth Design LLC boosted its holdings in Docusign by 105.2% during the fourth quarter. True Wealth Design LLC now owns 433 shares of the company’s stock worth $30,000 after buying an additional 222 shares in the last quarter. Finally, Aventura Private Wealth LLC acquired a new position in Docusign in the fourth quarter worth approximately $30,000. Institutional investors own 77.64% of the company’s stock.

Docusign Company Profile

DocuSign, Inc (NASDAQ: DOCU) is a leading provider of electronic signature and digital transaction management solutions. The company’s flagship offering, DocuSign eSignature, enables organizations to send, sign and manage legally binding electronic agreements securely in the cloud. Beyond eSignature, DocuSign’s Agreement Cloud combines contract lifecycle management, document generation, and workflow automation to streamline agreement processes from initiation through execution and storage.

DocuSign’s platform serves a diverse customer base spanning industries such as finance, real estate, healthcare, technology, and government.