Daniel D. Springer Sells 147,008 Shares of DocuSign, Inc. (NASDAQ:DOCU) Stock

DocuSign, Inc. (NASDAQ:DOCU – Get Rating) Director Daniel D. Springer sold 147,008 shares of the business’s stock in a transaction dated Thursday, January 19th. The shares were sold at an average price of $55.08, for a total value of $8,097,200.64. Following the sale, the director now owns 1,225,714 shares in the company, valued at approximately $67,512,327.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

DocuSign Price Performance

Shares of DocuSign stock opened at $58.69 on Tuesday. The business has a 50 day simple moving average of $52.30 and a two-hundred day simple moving average of $55.55. DocuSign, Inc. has a 12 month low of $39.57 and a 12 month high of $131.91. The stock has a market capitalization of $11.80 billion, a P/E ratio of -88.92 and a beta of 1.00. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.02 and a quick ratio of 1.02.

DocuSign (NASDAQ:DOCU – Get Rating) last announced its earnings results on Thursday, December 8th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.13. DocuSign had a negative return on equity of 18.86% and a negative net margin of 5.45%. The business had revenue of $645.46 million during the quarter, compared to analysts’ expectations of $626.07 million. As a group, analysts predict that DocuSign, Inc. will post -0.1 EPS for the current fiscal year.

Hedge Funds Weigh In On DocuSign

A number of hedge funds have recently made changes to their positions in the company. Meiji Yasuda Asset Management Co Ltd. raised its holdings in shares of DocuSign by 1.9% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 8,965 shares of the company’s stock valued at $514,000 after acquiring an additional 164 shares during the last quarter. Bartlett & Co. LLC increased its holdings in shares of DocuSign by 43.7% in the second quarter. Bartlett & Co. LLC now owns 589 shares of the company’s stock valued at $34,000 after purchasing an additional 179 shares during the last quarter. Baker Tilly Wealth Management LLC increased its holdings in shares of DocuSign by 1.0% in the second quarter. Baker Tilly Wealth Management LLC now owns 18,974 shares of the company’s stock valued at $1,089,000 after purchasing an additional 185 shares during the last quarter. Acorn Financial Advisory Services Inc. ADV increased its holdings in shares of DocuSign by 1.5% in the fourth quarter. Acorn Financial Advisory Services Inc. ADV now owns 13,233 shares of the company’s stock valued at $733,000 after purchasing an additional 196 shares during the last quarter. Finally, Raymond James Trust N.A. increased its holdings in shares of DocuSign by 4.7% in the second quarter. Raymond James Trust N.A. now owns 4,405 shares of the company’s stock valued at $253,000 after purchasing an additional 199 shares during the last quarter. Institutional investors and hedge funds own 76.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on DOCU shares. Morgan Stanley downgraded DocuSign from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $73.00 to $47.00 in a research note on Monday, October 3rd. Royal Bank of Canada lowered their target price on DocuSign from $65.00 to $55.00 in a research note on Thursday, September 29th. Citigroup upped their target price on DocuSign from $59.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, December 12th. Wedbush upgraded DocuSign from an “underperform” rating to a “neutral” rating and set a $55.00 target price on the stock in a research note on Wednesday, October 12th. Finally, Robert W. Baird lowered their target price on DocuSign from $70.00 to $50.00 and set a “neutral” rating on the stock in a research note on Monday, December 5th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $59.71.

About DocuSign

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DocuSign, Inc provides electronic signature software in the United States and internationally. The company provides e-signature solution that enables businesses to digitally prepare, sign, act on, and manage agreements. It also offers CLM, which automates workflows across the entire agreement process; Insights that use artificial intelligence (AI) to search and analyze agreements by legal concepts and clauses; Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce; Negotiate for Salesforce that supports for approvals, document comparisons, and version control; Analyzer, which helps customers understand what they're signing before they sign it; and CLM+ that provide AI-driven contract lifecycle management.