Allan C. Thygesen Sells 7,725 Shares of DocuSign, Inc. (NASDAQ:DOCU) Stock

DocuSign, Inc. (NASDAQ:DOCU) CEO Allan C. Thygesen sold 7,725 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $59.09, for a total value of $456,470.25. Following the transaction, the chief executive officer now owns 102,193 shares in the company, valued at approximately $6,038,584.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

DocuSign Stock Up 4.0 %

NASDAQ:DOCU opened at $59.19 on Friday. The business’s 50 day moving average is $55.44 and its two-hundred day moving average is $55.90. DocuSign, Inc. has a 52 week low of $38.11 and a 52 week high of $64.76. The company has a market cap of $12.12 billion, a PE ratio of 113.83, a P/E/G ratio of 9.74 and a beta of 0.93.

DocuSign (NASDAQ:DOCU) last announced its quarterly earnings results on Thursday, September 5th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.17. The business had revenue of $736.03 million for the quarter, compared to the consensus estimate of $727.20 million. DocuSign had a return on equity of 15.44% and a net margin of 3.81%. The business’s revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the business posted $0.09 EPS. As a group, sell-side analysts expect that DocuSign, Inc. will post 0.83 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Robert W. Baird lifted their price objective on DocuSign from $55.00 to $59.00 and gave the stock a “neutral” rating in a report on Friday. Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a research note on Friday. Royal Bank of Canada increased their price objective on shares of DocuSign from $52.00 to $57.00 and gave the company a “sector perform” rating in a research note on Friday. Piper Sandler dropped their target price on shares of DocuSign from $65.00 to $60.00 and set a “neutral” rating for the company in a research report on Friday, June 7th. Finally, Wells Fargo & Company upped their target price on shares of DocuSign from $48.00 to $50.00 and gave the company an “underweight” rating in a research note on Friday. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $61.45.

Institutional Trading of DocuSign

Several hedge funds have recently made changes to their positions in DOCU. Coatue Management LLC bought a new stake in shares of DocuSign in the 4th quarter worth approximately $288,274,000. Jericho Capital Asset Management L.P. lifted its holdings in shares of DocuSign by 316.6% in the 1st quarter. Jericho Capital Asset Management L.P. now owns 3,417,908 shares of the company’s stock worth $203,536,000 after purchasing an additional 2,597,489 shares during the last quarter. Norges Bank bought a new stake in shares of DocuSign in the 4th quarter worth approximately $133,826,000. Thrivent Financial for Lutherans bought a new stake in shares of DocuSign in the 2nd quarter worth approximately $115,795,000. Finally, Pacer Advisors Inc. lifted its holdings in shares of DocuSign by 77.9% in the 2nd quarter. Pacer Advisors Inc. now owns 3,519,969 shares of the company’s stock worth $188,318,000 after purchasing an additional 1,541,816 shares during the last quarter. Institutional investors 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.