DocuSign, Inc. (NASDAQ:DOCU) COO Sells $3,034,375.00 in Stock

DocuSign, Inc. (NASDAQ:DOCU) COO Scott V. Olrich sold 12,500 shares of the business’s stock in a transaction that occurred on Tuesday, June 8th. The shares were sold at an average price of $242.75, for a total value of $3,034,375.00. Following the transaction, the chief operating officer now owns 219,430 shares of the company’s stock, valued at approximately $53,266,632.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Shares of DOCU stock opened at $243.08 on Friday. The business’s fifty day simple moving average is $210.26. The firm has a market capitalization of $47.36 billion, a P/E ratio of -225.07 and a beta of 0.82. The company has a debt-to-equity ratio of 3.05, a quick ratio of 1.06 and a current ratio of 1.01. DocuSign, Inc. has a 12-month low of $144.29 and a 12-month high of $290.23.

DocuSign (NASDAQ:DOCU) last issued its quarterly earnings results on Wednesday, June 2nd. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.16. The business had revenue of $469.08 million for the quarter, compared to the consensus estimate of $437.66 million. DocuSign had a negative return on equity of 26.53% and a negative net margin of 12.54%. The business’s quarterly revenue was up 57.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.12 earnings per share. As a group, sell-side analysts forecast that DocuSign, Inc. will post -0.32 earnings per share for the current year.

Several brokerages have issued reports on DOCU. Evercore ISI upgraded DocuSign from an “in-line” rating to an “outperform” rating and set a $285.00 target price for the company in a research report on Friday, March 12th. Daiwa Capital Markets began coverage on DocuSign in a research report on Monday, March 29th. They set a “buy” rating and a $239.00 target price for the company. Morgan Stanley lifted their price target on shares of DocuSign from $290.00 to $295.00 and gave the company an “overweight” rating in a research note on Friday, June 4th. Bank of America reaffirmed a “buy” rating and set a $250.00 price target on shares of DocuSign in a research note on Wednesday, April 14th. Finally, Wolfe Research began coverage on shares of DocuSign in a research note on Thursday, April 22nd. They set an “outperform” rating and a $275.00 price target for the company. Five research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $269.00.

Several hedge funds have recently modified their holdings of the company. Morgan Stanley increased its position in shares of DocuSign by 45.1% during the first quarter. Morgan Stanley now owns 4,719,844 shares of the company’s stock worth $955,533,000 after purchasing an additional 1,467,310 shares in the last quarter. ARK Investment Management LLC grew its holdings in shares of DocuSign by 46.7% during the first quarter. ARK Investment Management LLC now owns 3,197,720 shares of the company’s stock valued at $647,378,000 after buying an additional 1,017,699 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of DocuSign by 8.7% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,376,875 shares of the company’s stock valued at $481,198,000 after buying an additional 189,407 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of DocuSign by 6.2% during the first quarter. Geode Capital Management LLC now owns 2,333,896 shares of the company’s stock valued at $471,910,000 after buying an additional 135,754 shares during the last quarter. Finally, Jennison Associates LLC grew its holdings in shares of DocuSign by 1.9% during the first quarter. Jennison Associates LLC now owns 1,964,202 shares of the company’s stock valued at $397,653,000 after buying an additional 36,874 shares during the last quarter. 71.88% of the stock is currently owned by institutional investors and hedge funds.

About DocuSign

DocuSign, Inc provides cloud based 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.

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