Allan C. Thygesen Sells 7,911 Shares of DocuSign, Inc. (NASDAQ:DOCU) Stock

DocuSign, Inc. (NASDAQ:DOCU) CEO Allan C. Thygesen sold 7,911 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $53.77, for a total value of $425,374.47. Following the sale, the chief executive officer now owns 117,643 shares of the company’s stock, valued at $6,325,664.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

DocuSign Trading Down 1.5 %

Shares of DocuSign stock opened at $54.32 on Wednesday. The business has a 50-day moving average price of $55.59 and a two-hundred day moving average price of $56.71. 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 $11.12 billion, a P/E ratio of 104.46, a PEG ratio of 4.45 and a beta of 0.94.

DocuSign (NASDAQ:DOCU) last issued its quarterly earnings results on Thursday, June 6th. The company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.09. DocuSign had a return on equity of 15.44% and a net margin of 3.81%. The firm had revenue of $709.64 million during the quarter, compared to the consensus estimate of $706.07 million. Equities research analysts forecast that DocuSign, Inc. will post 0.88 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on DOCU shares. UBS Group upgraded DocuSign from a “sell” rating to a “neutral” rating and increased their price target for the company from $48.00 to $62.00 in a research note on Friday, April 12th. Morgan Stanley dropped their price target on DocuSign from $65.00 to $62.00 and set an “equal weight” rating for the company in a research note on Friday, June 7th. Piper Sandler dropped their price target on DocuSign from $65.00 to $60.00 and set a “neutral” rating for the company in a research note on Friday, June 7th. Royal Bank of Canada dropped their price target on DocuSign from $59.00 to $52.00 and set a “sector perform” rating for the company in a research note on Friday, June 7th. Finally, Robert W. Baird dropped their price target on DocuSign from $65.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, June 7th. Two research 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, DocuSign presently has an average rating of “Hold” and an average target price of $59.36.

Institutional Trading of DocuSign

A number of large investors have recently bought and sold shares of the business. New York State Teachers Retirement System grew its holdings in DocuSign by 0.9% during the 4th quarter. New York State Teachers Retirement System now owns 18,282 shares of the company’s stock worth $1,087,000 after acquiring an additional 163 shares during the period. Tokio Marine Asset Management Co. Ltd. grew its stake in shares of DocuSign by 2.7% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,975 shares of the company’s stock valued at $415,000 after buying an additional 184 shares during the period. Whittier Trust Co. grew its stake in shares of DocuSign by 28.8% in the 4th quarter. Whittier Trust Co. now owns 935 shares of the company’s stock valued at $56,000 after buying an additional 209 shares during the period. Motley Fool Asset Management LLC grew its stake in shares of 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 buying an additional 224 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of DocuSign by 0.3% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 83,899 shares of the company’s stock valued at $4,617,000 after buying an additional 239 shares during the period. 77.64% of the stock is currently owned by institutional investors and hedge funds.

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.