DocuSign, Inc. (NASDAQ:DOCU) CEO Sells $424,025.25 in Stock

DocuSign, Inc. (NASDAQ:DOCU) CEO Allan C. Thygesen sold 7,725 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $54.89, for a total value of $424,025.25. Following the completion of the sale, the chief executive officer now owns 109,918 shares of the company’s stock, valued at approximately $6,033,399.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

DocuSign Stock Down 3.5 %

Shares of NASDAQ DOCU opened at $51.73 on Monday. The stock’s 50 day moving average price is $53.95 and its two-hundred day moving average price is $55.98. DocuSign, Inc. has a 52-week low of $38.11 and a 52-week high of $64.76. The stock has a market capitalization of $10.59 billion, a P/E ratio of 99.48, a PEG ratio of 8.34 and a beta of 0.94.

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

Institutional Trading of DocuSign

A number of institutional investors and hedge funds have recently modified their holdings of the business. DAVENPORT & Co LLC lifted its holdings in DocuSign by 11.2% in the fourth quarter. DAVENPORT & Co LLC now owns 11,315 shares of the company’s stock worth $673,000 after acquiring an additional 1,142 shares during the last quarter. Arizona State Retirement System raised its position in shares of DocuSign by 1.2% during the 4th quarter. Arizona State Retirement System now owns 55,848 shares of the company’s stock worth $3,320,000 after purchasing an additional 638 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of DocuSign by 4,438.8% in the 4th quarter. International Assets Investment Management LLC now owns 521,912 shares of the company’s stock worth $31,028,000 after purchasing an additional 510,413 shares during the last quarter. Allworth Financial LP grew its stake in DocuSign by 283.5% during the 4th quarter. Allworth Financial LP now owns 1,833 shares of the company’s stock worth $109,000 after buying an additional 1,355 shares during the last quarter. Finally, New York State Teachers Retirement System increased its position in DocuSign by 0.9% in the fourth quarter. New York State Teachers Retirement System now owns 18,282 shares of the company’s stock worth $1,087,000 after buying an additional 163 shares during the period. 77.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on DOCU shares. Bank of America lowered their price objective on shares of DocuSign from $72.00 to $60.00 and set a “neutral” rating for the company in a research report on Friday, June 7th. Morgan Stanley dropped their price target on shares of DocuSign from $65.00 to $62.00 and set an “equal weight” rating on the stock in a research note on Friday, June 7th. JMP Securities reissued a “market outperform” rating and issued a $84.00 price objective on shares of DocuSign in a research report on Wednesday, July 10th. Piper Sandler cut their price target on DocuSign from $65.00 to $60.00 and set a “neutral” rating on the stock in a research note on Friday, June 7th. Finally, UBS Group upgraded DocuSign from a “sell” rating to a “neutral” rating and raised their price objective for the company from $48.00 to $62.00 in a research note on Friday, April 12th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $59.36.

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.