Docusign Sees Unusually Large Options Volume (NASDAQ:DOCU)

Docusign Inc. (NASDAQ:DOCUGet Free Report) was the recipient of unusually large options trading activity on Monday. Stock investors purchased 30,382 call options on the company. This represents an increase of 224% compared to the typical volume of 9,371 call options.

Insider Transactions at Docusign

In other Docusign news, insider Robert Chatwani sold 16,696 shares of the business’s stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $48.10, for a total transaction of $803,077.60. Following the completion of the transaction, the insider owned 72,458 shares of the company’s stock, valued at $3,485,229.80. The trade was a 18.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mary Agnes Wilderotter sold 3,000 shares of the business’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $48.15, for a total value of $144,450.00. Following the transaction, the director directly owned 59,803 shares of the company’s stock, valued at $2,879,514.45. This represents a 4.78% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 65,489 shares of company stock valued at $3,125,814 in the last three months. 0.59% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Docusign by 1.1% in the third quarter. Vanguard Group Inc. now owns 21,625,551 shares of the company’s stock worth $1,558,986,000 after purchasing an additional 225,525 shares in the last quarter. State Street Corp increased its holdings in shares of Docusign by 0.9% during the fourth quarter. State Street Corp now owns 8,193,805 shares of the company’s stock worth $560,456,000 after buying an additional 77,008 shares in the last quarter. Capital World Investors increased its holdings in shares of Docusign by 38.1% during the fourth quarter. Capital World Investors now owns 5,815,804 shares of the company’s stock worth $397,801,000 after buying an additional 1,603,900 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Docusign by 76.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 5,285,128 shares of the company’s stock worth $250,568,000 after buying an additional 2,283,996 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Docusign by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 4,084,463 shares of the company’s stock worth $278,665,000 after buying an additional 18,873 shares in the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.

Docusign Stock Performance

Shares of DOCU opened at $44.19 on Tuesday. The company has a 50-day simple moving average of $47.48 and a 200-day simple moving average of $53.22. The firm has a market capitalization of $8.44 billion, a P/E ratio of 28.69, a P/E/G ratio of 1.36 and a beta of 0.92. Docusign has a 52 week low of $40.16 and a 52 week high of $86.65.

Docusign (NASDAQ:DOCUGet Free Report) last posted its quarterly earnings results on Thursday, June 4th. The company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.10. Docusign had a net margin of 9.59% and a return on equity of 17.48%. The firm had revenue of $830.24 million during the quarter, compared to analyst estimates of $824.71 million. During the same quarter in the prior year, the business posted $0.90 earnings per share. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. As a group, equities analysts forecast that Docusign will post 1.97 earnings per share for the current year.

Docusign declared that its board has initiated a stock buyback program on Tuesday, March 17th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the company to buy up to 21% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on DOCU. Morgan Stanley cut their price objective on shares of Docusign from $90.00 to $69.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 18th. BTIG Research cut their price objective on shares of Docusign from $70.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, June 5th. UBS Group set a $60.00 price objective on shares of Docusign in a research report on Friday, June 5th. Weiss Ratings raised shares of Docusign from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, June 3rd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Docusign in a research report on Friday, June 5th. Three 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, the stock presently has an average rating of “Hold” and an average target price of $60.27.

Get Our Latest Analysis on DOCU

Docusign Company Profile

(Get Free Report)

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.

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