DocuSign, Inc. (NASDAQ:DOCU) CEO Allan C. Thygesen Sells 7,725 Shares of Stock

DocuSign, Inc. (NASDAQ:DOCU) CEO Allan C. Thygesen sold 7,725 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $59.09, for a total transaction of $456,470.25. Following the completion of the sale, the chief executive officer now owns 102,193 shares of the company’s stock, valued at $6,038,584.37. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

DocuSign Stock Down 0.9 %

NASDAQ DOCU opened at $56.93 on Friday. The firm has a 50-day moving average price of $55.32 and a two-hundred day moving average price of $55.80. DocuSign, Inc. has a 12-month low of $38.11 and a 12-month high of $64.76. The company has a market capitalization of $11.65 billion, a P/E ratio of 109.48, a P/E/G ratio of 9.74 and a beta of 0.93.

DocuSign (NASDAQ:DOCU) last issued its quarterly earnings results on Thursday, September 5th. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.17. DocuSign had a return on equity of 15.44% and a net margin of 3.81%. The business had revenue of $736.03 million during the quarter, compared to analysts’ expectations of $727.20 million. During the same period in the previous year, the company posted $0.09 earnings per share. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. Equities analysts expect that DocuSign, Inc. will post 0.83 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Metis Global Partners LLC acquired a new stake in DocuSign during the fourth quarter worth about $208,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of DocuSign by 3.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,260,296 shares of the company’s stock worth $74,925,000 after acquiring an additional 44,646 shares during the period. Comerica Bank boosted its position in shares of DocuSign by 228.8% during 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 in the last quarter. Vanguard Group Inc. increased its stake 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 acquiring an additional 417,352 shares during the last quarter. Finally, KBC Group NV increased its stake in DocuSign by 119.3% in the fourth quarter. KBC Group NV now owns 739,196 shares of the company’s stock valued at $43,945,000 after acquiring an additional 402,084 shares during the last quarter. Institutional investors own 77.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on DOCU. Citigroup cut their price objective on DocuSign from $93.00 to $86.00 and set a “buy” rating for the company in a research report on Wednesday, June 5th. JMP Securities reaffirmed a “market outperform” rating and set a $84.00 price target on shares of DocuSign in a report on Thursday. Piper Sandler decreased their price objective on shares of DocuSign from $65.00 to $60.00 and set a “neutral” rating on the stock in a report on Friday, June 7th. Robert W. Baird increased their price objective on shares of DocuSign from $55.00 to $59.00 and gave the company a “neutral” rating in a research report on Friday. Finally, Morgan Stanley reduced their target price on shares of DocuSign from $65.00 to $62.00 and set an “equal weight” rating for the company in a report on Friday, June 7th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $59.73.

DocuSign Company Profile

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.