DocuSign, Inc. (NASDAQ:DOCU) CEO Allan C. Thygesen Sells 8,086 Shares

DocuSign, Inc. (NASDAQ:DOCU) CEO Allan C. Thygesen sold 8,086 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $56.16, for a total transaction of $454,109.76. Following the completion of the sale, the chief executive officer now owns 99,546 shares in the company, valued at approximately $5,590,503.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

DocuSign Price Performance

Shares of NASDAQ DOCU opened at $59.80 on Friday. The company has a market capitalization of $12.28 billion, a P/E ratio of 166.12, a price-to-earnings-growth ratio of 5.08 and a beta of 0.88. The business’s 50-day moving average price is $57.24 and its two-hundred day moving average price is $53.30. DocuSign, Inc. has a one year low of $38.11 and a one year high of $64.76.

DocuSign (NASDAQ:DOCU) last posted its earnings results on Thursday, March 7th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.06. The company had revenue of $712.39 million for the quarter, compared to analyst estimates of $698.05 million. DocuSign had a return on equity of 13.91% and a net margin of 2.68%. On average, equities analysts anticipate that DocuSign, Inc. will post 0.87 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of DOCU. Coatue Management LLC bought a new stake in DocuSign during the fourth quarter valued at about $288,274,000. Norges Bank acquired a new position in shares of DocuSign during the 4th quarter worth about $133,826,000. AQR Capital Management LLC boosted its stake in DocuSign by 147.4% during the 3rd quarter. AQR Capital Management LLC now owns 1,908,500 shares of the company’s stock valued at $80,157,000 after purchasing an additional 1,136,948 shares during the period. Jupiter Asset Management Ltd. grew its holdings in DocuSign by 166.4% in the 3rd quarter. Jupiter Asset Management Ltd. now owns 1,344,703 shares of the company’s stock valued at $56,478,000 after buying an additional 839,883 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in DocuSign by 77.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,215,650 shares of the company’s stock worth $51,057,000 after buying an additional 531,682 shares during the period. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

DOCU has been the topic of several recent analyst reports. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $59.00 target price on shares of DocuSign in a research note on Friday, April 12th. Morgan Stanley raised shares of DocuSign from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $49.00 to $64.00 in a report on Tuesday, January 16th. UBS Group raised shares of DocuSign from a “sell” rating to a “neutral” rating and raised their target price for the company from $48.00 to $62.00 in a research note on Friday, April 12th. Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a research note on Friday, April 12th. Finally, JMP Securities reissued a “market outperform” rating and set a $84.00 target price on shares of DocuSign in a report on Friday, April 12th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, DocuSign currently has an average rating of “Hold” and an average price target of $60.25.

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.