DocuSign, Inc. (NASDAQ:DOCU) CEO Sells $425,374.47 in Stock

DocuSign, Inc. (NASDAQ:DOCU) CEO Allan C. Thygesen sold 7,911 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $53.77, for a total value of $425,374.47. Following the transaction, the chief executive officer now owns 117,643 shares of the company’s stock, valued at approximately $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 0.3 %

Shares of NASDAQ:DOCU opened at $54.13 on Friday. The firm has a 50 day moving average of $55.53 and a 200 day moving average of $56.69. The company has a market capitalization of $11.08 billion, a price-to-earnings ratio of 104.10, a price-to-earnings-growth ratio of 4.52 and a beta of 0.94. DocuSign, Inc. has a 52 week low of $38.11 and a 52 week high of $64.76.

DocuSign (NASDAQ:DOCU) last announced its 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. The business had revenue of $709.64 million for the quarter, compared to analysts’ expectations of $706.07 million. DocuSign had a return on equity of 15.44% and a net margin of 3.81%. On average, sell-side analysts expect that DocuSign, Inc. will post 0.88 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on DOCU. Robert W. Baird lowered their target price on shares of DocuSign from $65.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, June 7th. Royal Bank of Canada lowered their price objective on shares of DocuSign from $59.00 to $52.00 and set a “sector perform” rating for the company in a research report on Friday, June 7th. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a research note on Friday, June 7th. UBS Group raised shares of DocuSign from a “sell” rating to a “neutral” rating and lifted their price target for the company from $48.00 to $62.00 in a research note on Friday, April 12th. Finally, Morgan Stanley dropped their price objective on DocuSign from $65.00 to $62.00 and set an “equal weight” rating on the stock in a research note on Friday, June 7th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, DocuSign presently has an average rating of “Hold” and a consensus price target of $59.36.

Hedge Funds Weigh In On DocuSign

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. LPL Financial LLC lifted its position in shares of DocuSign by 2.1% during the third quarter. LPL Financial LLC now owns 211,200 shares of the company’s stock valued at $8,870,000 after buying an additional 4,262 shares during the last quarter. O Shaughnessy Asset Management LLC grew its position in shares of DocuSign by 13.6% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 8,106 shares of the company’s stock worth $340,000 after buying an additional 973 shares during the last quarter. Tower Research Capital LLC TRC raised its stake 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 DocuSign during the third quarter valued at approximately $1,021,000. Finally, Lido Advisors LLC boosted its stake in DocuSign by 12.3% in the third quarter. Lido Advisors LLC now owns 5,264 shares of the company’s stock valued at $221,000 after acquiring an additional 575 shares in the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.

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.