Allan C. Thygesen Sells 7,911 Shares of DocuSign, Inc. (NASDAQ:DOCU) Stock

DocuSign, Inc. (NASDAQ:DOCU) CEO Allan C. Thygesen sold 7,911 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $53.77, for a total transaction of $425,374.47. Following the completion of the sale, the chief executive officer now directly owns 117,643 shares of the company’s stock, valued at approximately $6,325,664.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

DocuSign Stock Performance

NASDAQ DOCU opened at $54.13 on Friday. The firm has a market cap of $11.08 billion, a price-to-earnings ratio of 104.10, a PEG ratio of 4.52 and a beta of 0.94. The firm has a 50 day simple moving average of $55.53 and a 200-day simple moving average of $56.69. DocuSign, Inc. has a one year low of $38.11 and a one year high of $64.76.

DocuSign (NASDAQ:DOCU) last issued its quarterly earnings results on Thursday, June 6th. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.20 by $0.09. DocuSign had a net margin of 3.81% and a return on equity of 15.44%. The company had revenue of $709.64 million during the quarter, compared to analysts’ expectations of $706.07 million. Equities analysts predict that DocuSign, Inc. will post 0.88 EPS for the current fiscal year.

Institutional Investors Weigh In On DocuSign

Several large investors have recently bought and sold shares of DOCU. Massmutual Trust Co. FSB ADV increased its stake in shares of DocuSign by 5,000.0% during the second quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company’s stock worth $27,000 after buying an additional 500 shares during the period. Capital Analysts LLC raised its holdings in shares of DocuSign by 781.7% in the 4th quarter. Capital Analysts LLC now owns 529 shares of the company’s stock valued at $31,000 after purchasing an additional 469 shares in the last quarter. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of DocuSign during the 4th quarter worth $32,000. Register Financial Advisors LLC acquired a new position in shares of DocuSign during the first quarter worth $37,000. Finally, ICA Group Wealth Management LLC purchased a new position in DocuSign in the fourth quarter valued at $39,000. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on DOCU shares. Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a report on Friday, June 7th. JMP Securities reiterated a “market outperform” rating and issued a $84.00 price objective on shares of DocuSign in a research report on Friday, June 7th. UBS Group upgraded DocuSign from a “sell” rating to a “neutral” rating and lifted their target price for the company from $48.00 to $62.00 in a research report on Friday, April 12th. Robert W. Baird lowered their price target on DocuSign from $65.00 to $55.00 and set a “neutral” rating for the company in a report on Friday, June 7th. Finally, Morgan Stanley reduced their price objective on shares of DocuSign from $65.00 to $62.00 and set an “equal weight” rating on the stock in a report on Friday, June 7th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $59.36.

About DocuSign

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