Docusign (NASDAQ:DOCU) CEO Sells 26,250 Shares of Stock

Docusign Inc. (NASDAQ:DOCU) CEO Allan Thygesen sold 26,250 shares of the firm’s stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $69.29, for a total transaction of $1,818,862.50. Following the completion of the transaction, the chief executive officer directly owned 166,801 shares of the company’s stock, valued at approximately $11,557,641.29. This trade represents a 13.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Docusign Price Performance

NASDAQ:DOCU traded down $0.73 on Friday, hitting $69.01. 1,848,041 shares of the company’s stock were exchanged, compared to its average volume of 3,319,626. The firm has a 50-day moving average price of $63.52 and a 200-day moving average price of $52.98. Docusign Inc. has a 52 week low of $40.16 and a 52 week high of $75.00. The company has a market cap of $12.90 billion, a P/E ratio of 42.08, a price-to-earnings-growth ratio of 2.58 and a beta of 0.86.

Docusign (NASDAQ:DOCU) last announced its quarterly earnings data on Thursday, September 3rd. The company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.07. The company had revenue of $875.75 million during the quarter, compared to analysts’ expectations of $867.22 million. Docusign had a return on equity of 18.29% and a net margin of 9.82%.Docusign’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.30 EPS. On average, research analysts expect that Docusign Inc. will post 2.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Docusign

A number of institutional investors have recently bought and sold shares of DOCU. BlackRock Inc. bought a new stake in Docusign in the second quarter valued at approximately $927,059,000. Capital World Investors boosted its stake in shares of Docusign by 38.1% during the 4th quarter. Capital World Investors now owns 5,815,804 shares of the company’s stock worth $397,801,000 after acquiring an additional 1,603,900 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in shares of Docusign by 76.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 5,285,128 shares of the company’s stock worth $250,568,000 after acquiring an additional 2,283,996 shares during the period. Norges Bank acquired a new position in shares of Docusign during the 4th quarter worth approximately $186,795,000. Finally, Renaissance Technologies LLC increased its holdings in shares of Docusign by 4.0% during the 1st quarter. Renaissance Technologies LLC now owns 3,170,061 shares of the company’s stock worth $150,293,000 after acquiring an additional 123,100 shares during the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. UBS Group boosted their price target on Docusign from $54.00 to $70.00 and gave the stock a “neutral” rating in a research report on Friday, September 4th. Needham & Company LLC reissued a “hold” rating on shares of Docusign in a report on Friday, September 4th. Morgan Stanley raised their target price on shares of Docusign from $69.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday, September 4th. Bank of America boosted their target price on shares of Docusign from $58.00 to $64.00 and gave the stock an “underperform” rating in a report on Friday, September 4th. Finally, Wells Fargo & Company upped their price target on shares of Docusign from $55.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Friday, September 4th. Three analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Docusign presently has a consensus rating of “Hold” and a consensus target price of $67.33.

Docusign Company Profile

DocuSign, Inc (NASDAQ:DOCU) provides cloud-based software for electronically signing, managing and automating agreements. Its platform enables individuals and organizations to prepare, send, sign, track and store documents digitally, helping replace paper-based contracting processes.

The company’s offerings include electronic signature tools, contract lifecycle management, identity verification and authentication services, document generation, agreement analytics and related workflow automation capabilities.