Insider Selling: DocuSign, Inc. (NASDAQ:DOCU) CEO Sells 7,648 Shares of Stock

DocuSign, Inc. (NASDAQ:DOCU) CEO Allan C. Thygesen sold 7,648 shares of DocuSign stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $62.47, for a total transaction of $477,770.56. Following the completion of the transaction, the chief executive officer now directly owns 115,589 shares of the company’s stock, valued at approximately $7,220,844.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

DocuSign Trading Up 1.0 %

DOCU stock traded up $0.65 during trading on Thursday, reaching $62.98. 2,210,192 shares of the stock were exchanged, compared to its average volume of 2,680,934. The firm has a market capitalization of $12.89 billion, a price-to-earnings ratio of 121.12, a P/E/G ratio of 6.37 and a beta of 0.92. The business has a 50 day moving average price of $56.84 and a 200-day moving average price of $56.50. DocuSign, Inc. has a 1 year low of $38.11 and a 1 year high of $64.76.

DocuSign (NASDAQ:DOCU) last released its quarterly earnings data on Thursday, September 5th. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.17. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. The firm had revenue of $736.03 million for the quarter, compared to analysts’ expectations of $727.20 million. During the same period in the prior year, the firm posted $0.09 earnings per share. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. On average, research analysts anticipate that DocuSign, Inc. will post 0.99 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Comerica Bank lifted its holdings in shares of DocuSign by 228.8% in the 1st quarter. Comerica Bank now owns 28,901 shares of the company’s stock worth $1,721,000 after acquiring an additional 20,110 shares during the last quarter. Vanguard Group Inc. raised its position in DocuSign by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 21,399,739 shares of the company’s stock valued at $1,272,214,000 after purchasing an additional 417,352 shares during the period. Retirement Systems of Alabama purchased a new stake in DocuSign in the first quarter valued at approximately $8,700,000. PGGM Investments lifted its stake in DocuSign by 36.7% during the second quarter. PGGM Investments now owns 49,812 shares of the company’s stock worth $2,665,000 after purchasing an additional 13,379 shares in the last quarter. Finally, Advisory Services Network LLC boosted its position in shares of DocuSign by 77.8% during the first quarter. Advisory Services Network LLC now owns 56,494 shares of the company’s stock worth $3,364,000 after buying an additional 24,718 shares during the period. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Wells Fargo & Company increased their target price on DocuSign from $48.00 to $50.00 and gave the company an “underweight” rating in a research report on Friday, September 6th. Piper Sandler dropped their target price on shares of DocuSign from $65.00 to $60.00 and set a “neutral” rating on the stock in a research report on Friday, June 7th. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a research report on Friday, September 6th. Robert W. Baird lifted their price objective on DocuSign from $55.00 to $59.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Finally, JMP Securities reissued a “market outperform” rating and set a $84.00 target price on shares of DocuSign in a report on Thursday, September 5th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, DocuSign presently has an average rating of “Hold” and an average target price of $63.40.

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.