DocuSign, Inc. (NASDAQ:DOCU) CEO Sells $477,770.56 in Stock

DocuSign, Inc. (NASDAQ:DOCU) CEO Allan C. Thygesen sold 7,648 shares of DocuSign 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 sale, the chief executive officer now owns 115,589 shares in the company, valued at approximately $7,220,844.83. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

DocuSign Trading Up 1.4 %

Shares of NASDAQ DOCU opened at $63.84 on Friday. DocuSign, Inc. has a 1-year low of $38.11 and a 1-year high of $64.76. The company has a market cap of $13.07 billion, a PE ratio of 122.77, a P/E/G ratio of 6.37 and a beta of 0.92. The company has a 50-day moving average of $57.00 and a two-hundred day moving average of $56.52.

DocuSign (NASDAQ:DOCU) last announced its earnings results on Thursday, September 5th. The company reported $0.97 earnings per share for the quarter, topping 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 company had revenue of $736.03 million during the quarter, compared to the consensus estimate of $727.20 million. During the same period in the previous year, the firm posted $0.09 earnings per share. The company’s revenue was up 7.0% on a year-over-year basis. As a group, equities research analysts forecast that DocuSign, Inc. will post 0.99 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently weighed in on DOCU shares. Royal Bank of Canada lifted their target price on shares of DocuSign from $52.00 to $57.00 and gave the company a “sector perform” rating in a research report on Friday, September 6th. Bank of America lifted their price target on shares of DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a report on Friday, September 6th. JMP Securities reissued a “market outperform” rating and set a $84.00 price target on shares of DocuSign in a report on Thursday, September 5th. Wells Fargo & Company lifted their price target on shares of DocuSign from $48.00 to $50.00 and gave the company an “underweight” rating in a report on Friday, September 6th. Finally, Robert W. Baird lifted their price target on shares of DocuSign from $55.00 to $59.00 and gave the company 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 given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $63.40.

Institutional Investors Weigh In On DocuSign

A number of institutional investors and hedge funds have recently modified their holdings of DOCU. Massmutual Trust Co. FSB ADV raised its stake in shares of DocuSign by 5,000.0% during the second quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company’s stock worth $27,000 after buying an additional 500 shares during the last quarter. Mather Group LLC. raised its stake in shares of DocuSign by 4,338.5% during the second quarter. Mather Group LLC. now owns 577 shares of the company’s stock worth $31,000 after buying an additional 564 shares during the last quarter. Register Financial Advisors LLC bought a new stake in shares of DocuSign during the first quarter worth approximately $37,000. nVerses Capital LLC bought a new stake in shares of DocuSign during the second quarter worth approximately $48,000. Finally, Quarry LP bought a new stake in shares of DocuSign during the second quarter worth approximately $53,000. 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.