DocuSign, Inc. (NASDAQ:DOCU) CEO Sells $543,091.80 in Stock

DocuSign, Inc. (NASDAQ:DOCU) CEO Allan C. Thygesen sold 7,764 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $69.95, for a total value of $543,091.80. Following the completion of the sale, the chief executive officer now owns 107,825 shares of the company’s stock, valued at $7,542,358.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

DocuSign Trading Up 4.5 %

DOCU opened at $75.51 on Thursday. The company has a market cap of $15.33 billion, a price-to-earnings ratio of 15.93, a price-to-earnings-growth ratio of 7.52 and a beta of 0.90. The stock has a fifty day simple moving average of $64.01 and a two-hundred day simple moving average of $58.36. DocuSign, Inc. has a 12-month low of $39.65 and a 12-month high of $75.88.

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, topping the consensus estimate of $0.80 by $0.17. DocuSign had a net margin of 34.56% and a return on equity of 16.18%. The company had revenue of $736.03 million during the quarter, compared to analyst estimates of $727.20 million. During the same period last year, the business earned $0.09 EPS. DocuSign’s quarterly revenue was up 7.0% compared to the same quarter last year. On average, analysts predict that DocuSign, Inc. will post 1.01 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $84.00 target price on shares of DocuSign in a research note on Thursday, September 5th. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a research report on Friday, September 6th. Wells Fargo & Company increased their target price on shares of DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a report on Friday, September 6th. Royal Bank of Canada boosted their price target on DocuSign from $52.00 to $57.00 and gave the company a “sector perform” rating in a report on Friday, September 6th. Finally, Bank of America increased their price objective on DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $63.40.

Institutional Trading of DocuSign

Hedge funds have recently made changes to their positions in the stock. Sumitomo Mitsui Trust Holdings Inc. raised its stake in DocuSign by 0.6% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 473,219 shares of the company’s stock valued at $28,180,000 after buying an additional 3,038 shares during the last quarter. Norden Group LLC purchased a new position in shares of DocuSign in the 1st quarter worth about $467,000. Van ECK Associates Corp boosted its stake in DocuSign by 30.7% in the 1st quarter. Van ECK Associates Corp now owns 41,129 shares of the company’s stock worth $2,449,000 after purchasing an additional 9,650 shares in the last quarter. Private Advisor Group LLC grew its position in DocuSign by 4.1% during the 1st quarter. Private Advisor Group LLC now owns 27,197 shares of the company’s stock valued at $1,620,000 after purchasing an additional 1,075 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its stake in DocuSign by 5.4% during the 1st quarter. Daiwa Securities Group Inc. now owns 15,672 shares of the company’s stock valued at $933,000 after purchasing an additional 800 shares in the last quarter. 77.64% of the stock is owned by institutional investors.

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.