Docusign Inc. (NASDAQ:DOCU – Get Free Report) reached a new 52-week high during trading on Tuesday. The company traded as high as $79.59 and last traded at $77.9960, with a volume of 340,548 shares changing hands. The stock had previously closed at $76.66.
Wall Street Analyst Weigh In
DOCU has been the subject of a number of research reports. Piper Sandler boosted their price target on shares of Docusign from $52.00 to $75.00 and gave the company a “neutral” rating in a research report on Friday, September 4th. Morgan Stanley raised their price objective on Docusign from $69.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday, September 4th. Wall Street Zen cut Docusign from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 2nd. Evercore set a $65.00 target price on Docusign in a research report on Friday, September 4th. Finally, Weiss Ratings raised Docusign from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. Three analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $67.62.
Get Our Latest Research Report on Docusign
Docusign Stock Performance
The company has a market capitalization of $14.80 billion, a PE ratio of 48.13, a P/E/G ratio of 2.76 and a beta of 0.86. The company’s 50-day simple moving average is $67.00 and its 200-day simple moving average is $54.97.
Docusign (NASDAQ:DOCU – Get Free Report) last posted its quarterly earnings data on Thursday, September 3rd. The company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.07. Docusign had a net margin of 9.82% and a return on equity of 18.29%. The company had revenue of $875.75 million for the quarter, compared to analyst estimates of $867.22 million. During the same period in the previous year, the business posted $0.30 earnings per share. Docusign’s quarterly revenue was up 9.4% on a year-over-year basis. Analysts expect that Docusign Inc. will post 2.14 EPS for the current year.
Insider Activity
In related news, insider Robert Chatwani sold 14,676 shares of the business’s stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $69.41, for a total value of $1,018,661.16. Following the transaction, the insider owned 75,928 shares in the company, valued at $5,270,162.48. The trade was a 16.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Blake Grayson sold 30,000 shares of the business’s stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $70.00, for a total value of $2,100,000.00. Following the completion of the transaction, the chief financial officer owned 96,429 shares in the company, valued at $6,750,030. This trade represents a 23.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 165,868 shares of company stock valued at $11,121,890. Insiders own 0.59% of the company’s stock.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in shares of Docusign in the second quarter valued at about $927,059,000. Arrowstreet Capital Limited Partnership boosted its holdings in 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. Bank of New York Mellon Corp purchased a new stake in Docusign during the second quarter worth about $56,219,000. Man Group plc acquired a new position in Docusign during the second quarter worth about $52,714,000. Finally, SG Americas Securities LLC grew its position in Docusign by 452.3% during the first quarter. SG Americas Securities LLC now owns 1,314,632 shares of the company’s stock worth $62,327,000 after buying an additional 1,076,622 shares during the period. 77.64% of the stock is currently owned by hedge funds and other institutional investors.
About Docusign
DocuSign, Inc is a software company that provides digital agreement and electronic signature solutions. Its platform enables individuals and organizations to prepare, send, sign, manage and store agreements electronically, helping customers replace paper-based contracting processes with digital workflows.
The company’s offerings include eSignature, contract lifecycle management, identity verification, notarization and agreement analytics tools. These products are designed to support agreement creation, negotiation, execution and post-signature management across functions such as sales, human resources, procurement, legal and finance.
Founded in 2003, DocuSign serves businesses, government organizations and individual users in markets around the world.
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