DocuSign, Inc. (NASDAQ:DOCU) CEO Allan C. Thygesen Sells 7,763 Shares

DocuSign, Inc. (NASDAQ:DOCU) CEO Allan C. Thygesen sold 7,763 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $80.54, for a total value of $625,232.02. Following the sale, the chief executive officer now owns 100,062 shares of the company’s stock, valued at $8,058,993.48. This represents a 7.20 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

DocuSign Stock Performance

Shares of DOCU stock traded up $0.19 on Tuesday, hitting $80.45. The company’s stock had a trading volume of 2,659,509 shares, compared to its average volume of 2,868,764. The stock’s 50 day moving average is $72.42 and its 200-day moving average is $61.22. DocuSign, Inc. has a fifty-two week low of $44.34 and a fifty-two week high of $86.75. The company has a market capitalization of $16.33 billion, a PE ratio of 16.97, a PEG ratio of 8.31 and a beta of 0.92.

DocuSign (NASDAQ:DOCU) last issued its earnings results on Thursday, September 5th. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.80 by $0.17. The company had revenue of $736.03 million during the quarter, compared to the consensus estimate of $727.20 million. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period last year, the business posted $0.09 EPS. On average, research analysts forecast that DocuSign, Inc. will post 1.03 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Comerica Bank grew its holdings in shares of DocuSign by 228.8% in the first quarter. Comerica Bank now owns 28,901 shares of the company’s stock worth $1,721,000 after purchasing an additional 20,110 shares during the last quarter. Cetera Investment Advisers lifted its stake in shares of DocuSign by 455.7% in the 1st quarter. Cetera Investment Advisers now owns 45,709 shares of the company’s stock valued at $2,722,000 after purchasing an additional 37,484 shares during the period. Cetera Advisors LLC boosted its position in shares of DocuSign by 38.0% during the first quarter. Cetera Advisors LLC now owns 12,866 shares of the company’s stock valued at $766,000 after purchasing an additional 3,542 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its holdings in DocuSign by 5,000.0% in the second quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company’s stock worth $27,000 after purchasing an additional 500 shares in the last quarter. Finally, DNB Asset Management AS boosted its holdings in shares of DocuSign by 16.1% during the 2nd quarter. DNB Asset Management AS now owns 33,600 shares of the company’s stock valued at $1,798,000 after buying an additional 4,668 shares in the last quarter. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Royal Bank of Canada boosted their target price on DocuSign from $52.00 to $57.00 and gave the stock a “sector perform” rating in a research note on Friday, September 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a report on Friday, September 6th. JPMorgan Chase & Co. increased their price objective on shares of DocuSign from $50.00 to $70.00 and gave the stock an “underweight” rating in a research report on Tuesday. JMP Securities raised their target price on shares of DocuSign from $84.00 to $108.00 and gave the stock a “market outperform” rating in a report on Friday, November 22nd. Finally, Bank of America boosted their price target on shares of DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $70.73.

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.