Docusign (NASDAQ:DOCU) Shares Gap Down – What’s Next?

Docusign Inc. (NASDAQ:DOCU)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $49.87, but opened at $47.34. Docusign shares last traded at $48.5960, with a volume of 353,832 shares traded.

Analysts Set New Price Targets

DOCU has been the subject of a number of research reports. BTIG Research decreased their target price on Docusign from $70.00 to $60.00 and set a “buy” rating for the company in a report on Friday, June 5th. Jefferies Financial Group lifted their price target on shares of Docusign from $45.00 to $50.00 and gave the company a “hold” rating in a research report on Friday, June 5th. Citigroup boosted their price objective on shares of Docusign from $50.00 to $54.00 and gave the stock a “neutral” rating in a research note on Friday, June 5th. Morgan Stanley dropped their price objective on shares of Docusign from $90.00 to $69.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 18th. Finally, Wall Street Zen lowered shares of Docusign from a “strong-buy” rating to a “buy” rating in a report on Sunday. Three analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $60.27.

Docusign Trading Up 3.6%

The firm has a 50-day moving average of $47.24 and a 200 day moving average of $49.62. The stock has a market capitalization of $9.77 billion, a price-to-earnings ratio of 33.22, a price-to-earnings-growth ratio of 1.46 and a beta of 0.90.

Docusign (NASDAQ:DOCU) last issued its quarterly earnings data on Thursday, June 4th. The company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.10. The company had revenue of $830.24 million during the quarter, compared to the consensus estimate of $824.71 million. Docusign had a net margin of 9.59% and a return on equity of 17.48%. Docusign’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter last year, the company earned $0.90 earnings per share. As a group, research analysts forecast that Docusign Inc. will post 2.03 EPS for the current year.

Insider Buying and Selling at Docusign

In other Docusign news, insider Robert Chatwani sold 15,902 shares of the company’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $43.01, for a total value of $683,945.02. Following the completion of the transaction, the insider directly owned 72,805 shares of the company’s stock, valued at $3,131,343.05. This represents a 17.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Paula Hansen sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $45.54, for a total value of $273,240.00. Following the sale, the executive owned 89,972 shares of the company’s stock, valued at $4,097,324.88. This represents a 6.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 76,695 shares of company stock worth $3,476,002. 0.59% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Central Pacific Bank Trust Division purchased a new position in shares of Docusign during the 4th quarter valued at approximately $25,000. Modus Advisors LLC bought a new stake in shares of Docusign in the fourth quarter worth $27,000. Torren Management LLC bought a new stake in shares of Docusign in the fourth quarter worth $28,000. True Wealth Design LLC boosted its stake in Docusign by 105.2% during the 4th quarter. True Wealth Design LLC now owns 433 shares of the company’s stock valued at $30,000 after acquiring an additional 222 shares during the last quarter. Finally, Aventura Private Wealth LLC acquired a new position in Docusign during the 4th quarter worth $30,000. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Docusign Company Profile

DocuSign, Inc (NASDAQ: DOCU) is a leading provider of electronic signature and digital transaction management solutions. The company’s flagship offering, DocuSign eSignature, enables organizations to send, sign and manage legally binding electronic agreements securely in the cloud. Beyond eSignature, DocuSign’s Agreement Cloud combines contract lifecycle management, document generation, and workflow automation to streamline agreement processes from initiation through execution and storage.

DocuSign’s platform serves a diverse customer base spanning industries such as finance, real estate, healthcare, technology, and government.