Insider Selling: DocuSign, Inc. (NASDAQ:DOCU) CEO Sells 7,725 Shares of Stock

DocuSign, Inc. (NASDAQ:DOCU) CEO Allan C. Thygesen sold 7,725 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $54.89, for a total transaction of $424,025.25. Following the sale, the chief executive officer now directly owns 109,918 shares of the company’s stock, valued at $6,033,399.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

DocuSign Trading Down 3.5 %

DocuSign stock traded down $1.88 during midday trading on Friday, reaching $51.73. 2,023,598 shares of the stock traded hands, compared to its average volume of 2,794,604. The company has a 50-day simple moving average of $54.05 and a two-hundred day simple moving average of $56.14. DocuSign, Inc. has a 12-month low of $38.11 and a 12-month high of $64.76. The firm has a market cap of $10.59 billion, a PE ratio of 98.67, a price-to-earnings-growth ratio of 8.63 and a beta of 0.94.

DocuSign (NASDAQ:DOCU) last announced its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $706.07 million. Equities research analysts anticipate that DocuSign, Inc. will post 0.88 earnings per share for the current year.

Analyst Upgrades and Downgrades

DOCU has been the subject of a number of recent research reports. Royal Bank of Canada reduced their target price on shares of DocuSign from $59.00 to $52.00 and set a “sector perform” rating for the company in a report on Friday, June 7th. Morgan Stanley dropped their target price on DocuSign from $65.00 to $62.00 and set an “equal weight” rating on the stock in a research report on Friday, June 7th. Citigroup reduced their target price on DocuSign from $93.00 to $86.00 and set a “buy” rating for the company in a research note on Wednesday, June 5th. Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a research note on Friday, June 7th. Finally, Piper Sandler cut their target price on DocuSign from $65.00 to $60.00 and set a “neutral” rating for the company in a research note on Friday, June 7th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $59.36.

Institutional Investors Weigh In On DocuSign

Several hedge funds and other institutional investors have recently made changes to their positions in DOCU. Metis Global Partners LLC acquired a new position in DocuSign during the fourth quarter worth approximately $208,000. Charles Schwab Investment Management Inc. grew its stake in shares of DocuSign by 3.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,260,296 shares of the company’s stock valued at $74,925,000 after purchasing an additional 44,646 shares during the last quarter. Syon Capital LLC boosted its stake in shares of DocuSign by 450.2% in the fourth quarter. Syon Capital LLC now owns 550,221 shares of the company’s stock valued at $32,711,000 after buying an additional 450,221 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of 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 buying an additional 417,352 shares in the last quarter. Finally, KBC Group NV boosted its position in DocuSign by 119.3% during the fourth quarter. KBC Group NV now owns 739,196 shares of the company’s stock worth $43,945,000 after purchasing an additional 402,084 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.