Allan C. Thygesen Sells 40,000 Shares of DocuSign, Inc. (NASDAQ:DOCU) Stock

DocuSign, Inc. (NASDAQ:DOCU) CEO Allan C. Thygesen sold 40,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $90.04, for a total transaction of $3,601,600.00. Following the completion of the sale, the chief executive officer now directly owns 156,050 shares of the company’s stock, valued at $14,050,742. This trade represents a 20.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

DocuSign Stock Performance

Shares of NASDAQ:DOCU opened at $90.21 on Friday. The company’s fifty day moving average is $85.19 and its two-hundred day moving average is $67.53. DocuSign, Inc. has a 1-year low of $48.70 and a 1-year high of $107.86. The stock has a market capitalization of $18.22 billion, a price-to-earnings ratio of 18.60, a price-to-earnings-growth ratio of 8.72 and a beta of 0.92.

Institutional Investors Weigh In On DocuSign

Institutional investors and hedge funds have recently bought and sold shares of the business. State Street Corp boosted its stake in DocuSign by 2.3% in the third quarter. State Street Corp now owns 5,372,939 shares of the company’s stock valued at $333,604,000 after acquiring an additional 120,743 shares during the period. American Century Companies Inc. boosted its position in DocuSign by 1.9% during the 2nd quarter. American Century Companies Inc. now owns 4,099,400 shares of the company’s stock valued at $219,318,000 after purchasing an additional 75,026 shares during the period. Renaissance Technologies LLC grew its stake in DocuSign by 18.3% during the 2nd quarter. Renaissance Technologies LLC now owns 3,729,314 shares of the company’s stock worth $199,518,000 after buying an additional 576,414 shares during the last quarter. Pacer Advisors Inc. increased its position in DocuSign by 77.9% in the second quarter. Pacer Advisors Inc. now owns 3,519,969 shares of the company’s stock worth $188,318,000 after buying an additional 1,541,816 shares during the period. Finally, Geode Capital Management LLC lifted its stake in DocuSign by 1.6% in the third quarter. Geode Capital Management LLC now owns 3,483,184 shares of the company’s stock valued at $215,789,000 after buying an additional 53,554 shares during the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.

Wall Street Analyst Weigh In

DOCU has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their price target on shares of DocuSign from $50.00 to $70.00 and gave the stock an “underweight” rating in a research note on Tuesday, December 3rd. Jefferies Financial Group boosted their price target on DocuSign from $80.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a research note on Friday, December 6th. Hsbc Global Res raised DocuSign to a “moderate sell” rating in a research report on Friday, December 6th. Finally, Robert W. Baird increased their target price on DocuSign from $59.00 to $100.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $92.45.

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.