Allan C. Thygesen Sells 8,086 Shares of DocuSign, Inc. (NASDAQ:DOCU) Stock

DocuSign, Inc. (NASDAQ:DOCU) CEO Allan C. Thygesen sold 8,086 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $56.16, for a total transaction of $454,109.76. Following the completion of the transaction, the chief executive officer now directly owns 99,546 shares in the company, valued at $5,590,503.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

DocuSign Trading Up 1.8 %

NASDAQ DOCU opened at $59.80 on Friday. The firm’s 50 day simple moving average is $57.07 and its 200 day simple moving average is $53.09. The firm has a market capitalization of $12.28 billion, a price-to-earnings ratio of 166.12, a P/E/G ratio of 4.95 and a beta of 0.88. DocuSign, Inc. has a 1 year low of $38.11 and a 1 year high of $64.76.

DocuSign (NASDAQ:DOCU) last issued its earnings results on Thursday, March 7th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.06. DocuSign had a return on equity of 13.91% and a net margin of 2.68%. The firm had revenue of $712.39 million for the quarter, compared to the consensus estimate of $698.05 million. On average, equities research analysts forecast that DocuSign, Inc. will post 0.87 earnings per share for the current year.

Wall Street Analysts Forecast Growth

DOCU has been the topic of a number of research reports. Morgan Stanley upgraded shares of DocuSign from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $49.00 to $64.00 in a research note on Tuesday, January 16th. Wells Fargo & Company lowered their target price on DocuSign from $55.00 to $45.00 and set an “underweight” rating on the stock in a research note on Monday, February 5th. UBS Group upgraded DocuSign from a “sell” rating to a “neutral” rating and boosted their price target for the company from $48.00 to $62.00 in a research note on Friday, April 12th. Royal Bank of Canada reiterated a “sector perform” rating and set a $59.00 price objective on shares of DocuSign in a research report on Friday, April 12th. Finally, JMP Securities restated a “market outperform” rating and issued a $84.00 price target on shares of DocuSign in a research note on Friday, April 12th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, DocuSign has a consensus rating of “Hold” and a consensus target price of $60.25.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Mediolanum International Funds Ltd bought a new stake in shares of DocuSign during the 1st quarter valued at approximately $7,103,000. Rehmann Capital Advisory Group grew its stake in shares of DocuSign by 34.0% during the first quarter. Rehmann Capital Advisory Group now owns 8,387 shares of the company’s stock worth $499,000 after buying an additional 2,130 shares during the last quarter. GSA Capital Partners LLP increased its holdings in shares of DocuSign by 274.0% during the first quarter. GSA Capital Partners LLP now owns 48,223 shares of the company’s stock worth $2,872,000 after buying an additional 35,328 shares in the last quarter. Daiwa Securities Group Inc. lifted its stake in shares of DocuSign by 5.4% in the 1st quarter. Daiwa Securities Group Inc. now owns 15,672 shares of the company’s stock valued at $933,000 after acquiring an additional 800 shares during the last quarter. Finally, BNP Paribas acquired a new stake in shares of DocuSign during the 1st quarter valued at $495,000. Institutional investors and hedge funds own 77.64% of the company’s stock.

About DocuSign

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.