Insider Selling: DocuSign, Inc. (NASDAQ:DOCU) CEO Sells 7,911 Shares of Stock

DocuSign, Inc. (NASDAQ:DOCU) CEO Allan C. Thygesen sold 7,911 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $53.77, for a total value of $425,374.47. Following the sale, the chief executive officer now owns 117,643 shares of the company’s stock, valued at $6,325,664.11. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

DocuSign Stock Down 1.5 %

NASDAQ DOCU traded down $0.82 during trading hours on Tuesday, reaching $54.32. The company’s stock had a trading volume of 2,352,753 shares, compared to its average volume of 2,987,936. The firm’s 50-day moving average price is $55.59 and its 200-day moving average price is $56.71. DocuSign, Inc. has a 1 year low of $38.11 and a 1 year high of $64.76. The company has a market capitalization of $11.12 billion, a price-to-earnings ratio of 104.46, a PEG ratio of 4.45 and a beta of 0.94.

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

Analyst Ratings Changes

A number of equities research analysts have issued reports on DOCU shares. Citigroup cut their price target on DocuSign from $93.00 to $86.00 and set a “buy” rating for the company in a research note on Wednesday, June 5th. Piper Sandler cut their price objective on DocuSign from $65.00 to $60.00 and set a “neutral” rating for the company in a research note on Friday, June 7th. JMP Securities reiterated a “market outperform” rating and set a $84.00 price objective on shares of DocuSign in a research note on Friday, June 7th. UBS Group upgraded DocuSign from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $48.00 to $62.00 in a research note on Friday, April 12th. Finally, Royal Bank of Canada cut their price objective on DocuSign from $59.00 to $52.00 and set a “sector perform” rating for the company in a research note on Friday, June 7th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $59.36.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. LPL Financial LLC raised its holdings in shares of DocuSign by 2.1% during the 3rd quarter. LPL Financial LLC now owns 211,200 shares of the company’s stock worth $8,870,000 after acquiring an additional 4,262 shares in the last quarter. O Shaughnessy Asset Management LLC raised its holdings in shares of DocuSign by 13.6% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 8,106 shares of the company’s stock worth $340,000 after acquiring an additional 973 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of DocuSign by 712.8% during the 3rd quarter. Tower Research Capital LLC TRC now owns 8,868 shares of the company’s stock worth $372,000 after acquiring an additional 7,777 shares in the last quarter. Schonfeld Strategic Advisors LLC purchased a new stake in shares of DocuSign during the 3rd quarter worth approximately $1,021,000. Finally, Lido Advisors LLC raised its holdings in shares of DocuSign by 12.3% during the 3rd quarter. Lido Advisors LLC now owns 5,264 shares of the company’s stock worth $221,000 after acquiring an additional 575 shares in the last quarter. 77.64% of the stock is owned by hedge funds and other institutional investors.

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.