Teresa Briggs Sells 534 Shares of DocuSign, Inc. (NASDAQ:DOCU) Stock

DocuSign, Inc. (NASDAQ:DOCU) Director Teresa Briggs sold 534 shares of the company’s stock in a transaction on Monday, June 16th. The shares were sold at an average price of $74.37, for a total value of $39,713.58. Following the transaction, the director now directly owns 8,805 shares in the company, valued at $654,827.85. This represents a 5.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

DocuSign Stock Performance

NASDAQ:DOCU opened at $75.68 on Tuesday. DocuSign, Inc. has a 52-week low of $48.80 and a 52-week high of $107.86. The firm has a market cap of $15.29 billion, a price-to-earnings ratio of 15.60, a PEG ratio of 6.94 and a beta of 1.14. The business’s fifty day moving average is $82.32 and its 200 day moving average is $86.06.

DocuSign (NASDAQ:DOCU) last announced its earnings results on Thursday, June 5th. The company reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.09. The business had revenue of $763.65 million for the quarter, compared to analyst estimates of $748.79 million. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.82 EPS. Equities analysts predict that DocuSign, Inc. will post 1.17 EPS for the current fiscal year.

DocuSign declared that its Board of Directors has authorized a share repurchase program on Thursday, June 5th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 6.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

DOCU has been the topic of a number of recent research reports. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $90.00 price target on shares of DocuSign in a research report on Friday, March 14th. Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a research report on Friday, June 6th. Bank of America dropped their price target on DocuSign from $88.00 to $85.00 and set a “neutral” rating on the stock in a research report on Friday, June 6th. JPMorgan Chase & Co. dropped their price target on DocuSign from $81.00 to $77.00 and set a “neutral” rating on the stock in a research report on Friday, June 6th. Finally, Jefferies Financial Group dropped their price target on DocuSign from $115.00 to $105.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. Twelve equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, DocuSign currently has an average rating of “Hold” and an average price target of $89.77.

Hedge Funds Weigh In On DocuSign

A number of institutional investors have recently added to or reduced their stakes in the business. FMR LLC increased its stake in DocuSign by 178.2% in the 4th quarter. FMR LLC now owns 6,101,024 shares of the company’s stock worth $548,726,000 after acquiring an additional 3,908,139 shares during the last quarter. American Century Companies Inc. increased its stake in DocuSign by 3.1% in the 1st quarter. American Century Companies Inc. now owns 5,477,758 shares of the company’s stock worth $445,890,000 after acquiring an additional 162,299 shares during the last quarter. Jericho Capital Asset Management L.P. increased its stake in DocuSign by 34.0% in the 4th 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 during the last quarter. Renaissance Technologies LLC increased its stake in DocuSign by 4.9% in the 4th quarter. Renaissance Technologies LLC now owns 4,363,292 shares of the company’s stock worth $392,434,000 after acquiring an additional 205,304 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in DocuSign by 7.2% in the 4th quarter. Geode Capital Management LLC now owns 3,732,363 shares of the company’s stock worth $335,147,000 after acquiring an additional 249,179 shares during the last quarter. 77.64% of the stock is currently owned by 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.