Docusign Inc (NASDAQ:DOCU) Director Peter Solvik Sells 16,452 Shares

Docusign Inc (NASDAQ:DOCU) Director Peter Solvik sold 16,452 shares of the company’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $167.51, for a total value of $2,755,874.52. Following the sale, the director now owns 7,561 shares of the company’s stock, valued at $1,266,543.11. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Docusign stock traded down $1.50 during midday trading on Tuesday, hitting $166.80. 5,677,591 shares of the company were exchanged, compared to its average volume of 3,484,567. The firm has a market capitalization of $29.62 billion, a PE ratio of -142.56 and a beta of 0.82. Docusign Inc has a fifty-two week low of $43.13 and a fifty-two week high of $171.20. The business has a fifty day simple moving average of $136.81 and a two-hundred day simple moving average of $96.10. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.43 and a current ratio of 1.43.

Docusign (NASDAQ:DOCU) last posted its earnings results on Thursday, June 4th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.10 by $0.02. Docusign had a negative return on equity of 29.36% and a negative net margin of 19.91%. The firm had revenue of $297.02 million for the quarter, compared to analyst estimates of $281.12 million. During the same period last year, the company earned $0.07 earnings per share. Docusign’s revenue for the quarter was up 38.8% compared to the same quarter last year. As a group, equities analysts expect that Docusign Inc will post -0.74 earnings per share for the current year.

A number of equities research analysts have commented on DOCU shares. Goldman Sachs Group decreased their price target on Docusign from $82.00 to $77.00 and set a “neutral” rating for the company in a research note on Friday, March 27th. JMP Securities increased their price target on Docusign from $113.00 to $150.00 in a research note on Thursday, June 4th. Wells Fargo & Co started coverage on Docusign in a research note on Tuesday. They issued an “equal weight” rating and a $160.00 price target for the company. Piper Sandler increased their price target on Docusign from $90.00 to $140.00 and gave the company a “neutral” rating in a research note on Friday, June 5th. Finally, Royal Bank of Canada increased their price target on Docusign from $150.00 to $170.00 and gave the company an “outperform” rating in a research note on Friday, June 5th. Seven investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $124.44.

A number of institutional investors and hedge funds have recently modified their holdings of the business. AXA acquired a new stake in Docusign in the first quarter valued at approximately $517,000. Skandinaviska Enskilda Banken AB publ grew its holdings in Docusign by 67.4% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 15,900 shares of the company’s stock valued at $1,469,000 after purchasing an additional 6,400 shares during the period. UMB Bank N A MO acquired a new stake in Docusign in the first quarter valued at approximately $5,156,000. 1832 Asset Management L.P. grew its holdings in Docusign by 39.0% in the first quarter. 1832 Asset Management L.P. now owns 1,343,600 shares of the company’s stock valued at $116,554,000 after purchasing an additional 377,100 shares during the period. Finally, FDx Advisors Inc. acquired a new stake in Docusign in the first quarter valued at approximately $36,000. 79.26% of the stock is currently owned by institutional investors.

Docusign Company Profile

DocuSign, Inc provides cloud based software in the United States. The company offers e-signature solution that enables businesses to digitally prepare, execute, and act on agreements. The company sells its products through direct, partner-assisted, and Web-based sales. It serves enterprise businesses, commercial businesses, and small businesses, such as professionals, sole proprietorships and individuals.

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