Peter Solvik Sells 15,000 Shares of DocuSign, Inc. (NASDAQ:DOCU) Stock

DocuSign, Inc. (NASDAQ:DOCU) Director Peter Solvik sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $60.00, for a total value of $900,000.00. Following the completion of the sale, the director now directly owns 783 shares in the company, valued at $46,980. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

DocuSign Trading Up 0.4 %

NASDAQ:DOCU opened at $59.48 on Friday. DocuSign, Inc. has a 12 month low of $38.11 and a 12 month high of $64.76. The company has a market cap of $12.22 billion, a PE ratio of 165.22, a price-to-earnings-growth ratio of 5.22 and a beta of 0.89. The company has a 50 day simple moving average of $55.36 and a two-hundred day simple moving average of $51.47.

DocuSign (NASDAQ:DOCU) last posted its earnings results on Thursday, March 7th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.06. DocuSign had a net margin of 2.68% and a return on equity of 13.91%. The business had revenue of $712.39 million during the quarter, compared to the consensus estimate of $698.05 million. Research analysts forecast that DocuSign, Inc. will post 0.86 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. TheStreet raised DocuSign from a “d+” rating to a “c-” rating in a research report on Tuesday, December 19th. Wells Fargo & Company cut their price objective on DocuSign from $55.00 to $45.00 and set an “underweight” rating on the stock in a research report on Monday, February 5th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $50.00 price objective on shares of DocuSign in a research report on Friday, January 12th. JMP Securities reaffirmed a “market outperform” rating and set a $84.00 price objective on shares of DocuSign in a research report on Monday, January 22nd. Finally, Morgan Stanley raised DocuSign from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $49.00 to $64.00 in a research report on Tuesday, January 16th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $58.33.

Institutional Investors Weigh In On DocuSign

A number of hedge funds have recently modified their holdings of the business. RFG Advisory LLC bought a new position in DocuSign in the 1st quarter worth $229,000. Banque Cantonale Vaudoise boosted its holdings in DocuSign by 391.1% in the 1st quarter. Banque Cantonale Vaudoise now owns 40,233 shares of the company’s stock worth $2,396,000 after buying an additional 32,041 shares during the period. Polianta Ltd bought a new position in DocuSign in the 1st quarter worth $1,179,000. Perpetual Ltd boosted its holdings in DocuSign by 7.1% in the 1st quarter. Perpetual Ltd now owns 34,844 shares of the company’s stock worth $2,075,000 after buying an additional 2,304 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in DocuSign in the 4th quarter worth $4,162,000. Institutional investors own 77.64% of the company’s stock.

About DocuSign

DocuSign, Inc provides electronic signature solution in the United States and internationally. The company provides DocuSign 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; and Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce.