DocuSign, Inc. (NASDAQ:DOCU) COO Scott V. Olrich Sells 12,500 Shares

DocuSign, Inc. (NASDAQ:DOCU) COO Scott V. Olrich sold 12,500 shares of the business’s stock in a transaction 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 sale, the chief operating officer now owns 219,430 shares in the company, valued at $53,266,632.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

NASDAQ DOCU opened at $243.08 on Friday. DocuSign, Inc. has a 1-year low of $144.29 and a 1-year high of $290.23. The company has a debt-to-equity ratio of 3.05, a quick ratio of 1.06 and a current ratio of 1.01. The firm has a 50-day moving average of $210.26. The company has a market cap of $47.36 billion, a price-to-earnings ratio of -225.07 and a beta of 0.82.

DocuSign (NASDAQ:DOCU) last released its earnings results on Wednesday, June 2nd. The company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.16. The company had revenue of $469.08 million during the quarter, compared to analyst estimates of $437.66 million. DocuSign had a negative return on equity of 26.53% and a negative net margin of 12.54%. DocuSign’s revenue for the quarter was up 57.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.12 EPS. On average, sell-side analysts anticipate that DocuSign, Inc. will post -0.32 earnings per share for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DOCU. Amundi Pioneer Asset Management Inc. raised its position in DocuSign by 19.7% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 375,624 shares of the company’s stock valued at $19,473,000 after purchasing an additional 61,824 shares during the last quarter. California Public Employees Retirement System raised its position in DocuSign by 4.5% during the 4th quarter. California Public Employees Retirement System now owns 425,606 shares of the company’s stock valued at $94,612,000 after purchasing an additional 18,473 shares during the last quarter. Dynamic Advisor Solutions LLC grew its stake in shares of DocuSign by 10.9% in the 4th quarter. Dynamic Advisor Solutions LLC now owns 3,097 shares of the company’s stock worth $688,000 after buying an additional 304 shares during the last quarter. CIBC Asset Management Inc grew its stake in shares of DocuSign by 10.2% in the 4th quarter. CIBC Asset Management Inc now owns 20,939 shares of the company’s stock worth $4,655,000 after buying an additional 1,946 shares during the last quarter. Finally, Meritage Portfolio Management boosted its stake in DocuSign by 8.2% during the 4th quarter. Meritage Portfolio Management now owns 2,625 shares of the company’s stock valued at $584,000 after purchasing an additional 200 shares during the last quarter. 71.88% of the stock is owned by institutional investors and hedge funds.

DOCU has been the topic of a number of analyst reports. Wells Fargo & Company boosted their price objective on DocuSign from $210.00 to $215.00 and gave the company an “equal weight” rating in a research note on Friday, June 4th. 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. Zacks Investment Research cut DocuSign from a “buy” rating to a “hold” rating in a research report on Thursday, April 8th. Bank of America restated a “buy” rating and set a $250.00 target price on shares of DocuSign in a research report on Wednesday, April 14th. Finally, Robert W. Baird restated a “buy” rating and set a $280.00 target price on shares of DocuSign in a research report on Friday, March 12th. Five equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. DocuSign currently has an average rating of “Buy” and a consensus target price of $269.00.

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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