Allan C. Thygesen Sells 7,764 Shares of DocuSign, Inc. (NASDAQ:DOCU) Stock

DocuSign, Inc. (NASDAQ:DOCU) CEO Allan C. Thygesen sold 7,764 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $69.95, for a total transaction of $543,091.80. Following the sale, the chief executive officer now directly owns 107,825 shares in the company, valued at $7,542,358.75. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

DocuSign Stock Performance

NASDAQ:DOCU opened at $69.85 on Tuesday. DocuSign, Inc. has a 1 year low of $39.65 and a 1 year high of $73.80. The stock has a market cap of $14.18 billion, a P/E ratio of 14.74, a P/E/G ratio of 7.34 and a beta of 0.90. The stock has a 50-day simple moving average of $63.38 and a 200-day simple moving average of $58.13.

DocuSign (NASDAQ:DOCU) last announced its quarterly earnings results on Thursday, September 5th. The company reported $0.97 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $727.20 million. During the same period in the prior year, the firm posted $0.09 earnings per share. The firm’s revenue was up 7.0% on a year-over-year basis. On average, equities research analysts predict that DocuSign, Inc. will post 1.01 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently weighed in on DOCU. Royal Bank of Canada upped their target price on shares of DocuSign from $52.00 to $57.00 and gave the stock a “sector perform” rating in a research note on Friday, September 6th. Bank of America upped their price objective on DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Wells Fargo & Company boosted their target price on DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a research note on Friday, September 6th. Robert W. Baird upped their price target on DocuSign from $55.00 to $59.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $84.00 price objective on shares of DocuSign in a research note on Thursday, September 5th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $63.40.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Inspire Investing LLC acquired a new position in DocuSign in the third quarter valued at $911,000. Comerica Bank boosted its position in shares of DocuSign by 228.8% in the 1st quarter. Comerica Bank now owns 28,901 shares of the company’s stock valued at $1,721,000 after purchasing an additional 20,110 shares during the period. International Assets Investment Management LLC increased its position in DocuSign by 5,660.8% during the third quarter. International Assets Investment Management LLC now owns 438,914 shares of the company’s stock worth $27,252,000 after buying an additional 431,295 shares during the period. PGGM Investments increased its position in DocuSign by 36.7% during the second quarter. PGGM Investments now owns 49,812 shares of the company’s stock worth $2,665,000 after buying an additional 13,379 shares during the period. Finally, Claro Advisors LLC purchased a new stake in DocuSign in the third quarter valued at approximately $727,000. 77.64% of the stock is owned by hedge funds and other institutional investors.

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.