Allan C. Thygesen Sells 7,648 Shares of DocuSign, Inc. (NASDAQ:DOCU) Stock

DocuSign, Inc. (NASDAQ:DOCU) CEO Allan C. Thygesen sold 7,648 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $62.47, for a total transaction of $477,770.56. Following the completion of the transaction, the chief executive officer now directly owns 115,589 shares in the company, valued at approximately $7,220,844.83. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

DocuSign Trading Up 1.4 %

Shares of NASDAQ:DOCU opened at $63.84 on Friday. The firm has a 50 day moving average of $57.00 and a 200-day moving average of $56.54. DocuSign, Inc. has a 12 month low of $38.11 and a 12 month high of $64.76. The stock has a market capitalization of $13.07 billion, a PE ratio of 122.77, a PEG ratio of 6.37 and a beta of 0.92.

DocuSign (NASDAQ:DOCU) last announced its quarterly earnings data on Thursday, September 5th. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.17. DocuSign had a net margin of 34.56% and a return on equity of 16.18%. The business had revenue of $736.03 million for the quarter, compared to analysts’ expectations of $727.20 million. During the same period last year, the firm posted $0.09 earnings per share. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. On average, research analysts predict that DocuSign, Inc. will post 0.99 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on DOCU. JMP Securities reaffirmed a “market outperform” rating and issued a $84.00 target price on shares of DocuSign in a research report on Thursday, September 5th. Morgan Stanley dropped their target price on DocuSign from $65.00 to $62.00 and set an “equal weight” rating for the company in a report on Friday, June 7th. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a research note on Friday, September 6th. Royal Bank of Canada raised their price target on shares of DocuSign from $52.00 to $57.00 and gave the stock a “sector perform” rating in a research report on Friday, September 6th. Finally, Wells Fargo & Company boosted their price objective on shares of DocuSign from $48.00 to $50.00 and gave the company an “underweight” rating in a report on Friday, September 6th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $63.40.

Hedge Funds Weigh In On DocuSign

A number of institutional investors have recently modified their holdings of DOCU. Dakota Wealth Management raised its stake in DocuSign by 0.8% during the second quarter. Dakota Wealth Management now owns 23,022 shares of the company’s stock worth $1,232,000 after acquiring an additional 181 shares in the last quarter. New York State Teachers Retirement System grew its holdings in shares of DocuSign by 1.0% during the 1st quarter. New York State Teachers Retirement System now owns 18,469 shares of the company’s stock valued at $1,100,000 after purchasing an additional 187 shares during the last quarter. Elo Mutual Pension Insurance Co increased its position in DocuSign by 1.1% during the 2nd quarter. Elo Mutual Pension Insurance Co now owns 18,848 shares of the company’s stock worth $1,008,000 after purchasing an additional 214 shares in the last quarter. Motley Fool Asset Management LLC lifted its stake in DocuSign by 6.0% in the 1st quarter. Motley Fool Asset Management LLC now owns 3,960 shares of the company’s stock valued at $236,000 after purchasing an additional 224 shares during the last quarter. Finally, Optimist Retirement Group LLC boosted its position in DocuSign by 5.6% in the second quarter. Optimist Retirement Group LLC now owns 4,255 shares of the company’s stock valued at $228,000 after buying an additional 227 shares in the last quarter. Institutional investors and hedge funds 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.