DocuSign, Inc. (NASDAQ:DOCU) CEO Sells $454,109.76 in Stock

DocuSign, Inc. (NASDAQ:DOCU) CEO Allan C. Thygesen sold 8,086 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $56.16, for a total value of $454,109.76. Following the sale, the chief executive officer now owns 99,546 shares of the company’s stock, valued at $5,590,503.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

DocuSign Stock Up 2.5 %

NASDAQ:DOCU traded up $1.46 during trading hours on Thursday, reaching $58.76. 1,066,554 shares of the stock were exchanged, compared to its average volume of 3,160,162. The firm has a 50 day simple moving average of $56.90 and a 200-day simple moving average of $53.06. DocuSign, Inc. has a 52 week low of $38.11 and a 52 week high of $64.76. The stock has a market capitalization of $12.07 billion, a P/E ratio of 162.95, a P/E/G ratio of 4.89 and a beta of 0.88.

DocuSign (NASDAQ:DOCU) last announced its quarterly earnings results on Thursday, March 7th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.06. The business had revenue of $712.39 million for the quarter, compared to the consensus estimate of $698.05 million. DocuSign had a return on equity of 13.91% and a net margin of 2.68%. As a group, analysts expect that DocuSign, Inc. will post 0.87 earnings per share for the current year.

Institutional Trading of DocuSign

Hedge funds have recently made changes to their positions in the stock. Capital Analysts LLC lifted its holdings in shares of DocuSign by 781.7% in the 4th quarter. Capital Analysts LLC now owns 529 shares of the company’s stock worth $31,000 after purchasing an additional 469 shares during the last quarter. McGlone Suttner Wealth Management Inc. acquired a new stake in DocuSign in the 4th quarter valued at approximately $32,000. Register Financial Advisors LLC acquired a new stake in DocuSign in the 1st quarter valued at approximately $37,000. ICA Group Wealth Management LLC acquired a new stake in DocuSign in the 4th quarter valued at approximately $39,000. Finally, BluePath Capital Management LLC acquired a new stake in DocuSign in the 3rd quarter valued at approximately $32,000. Institutional investors own 77.64% of the company’s stock.

Wall Street Analysts Forecast Growth

DOCU has been the subject of a number of recent research reports. Morgan Stanley upgraded DocuSign from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $49.00 to $64.00 in a research note on Tuesday, January 16th. JMP Securities reiterated a “market outperform” rating and issued a $84.00 target price on shares of DocuSign in a research note on Friday, April 12th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $59.00 target price on shares of DocuSign in a research note on Friday, April 12th. Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a research note on Friday, April 12th. Finally, Wells Fargo & Company lowered their target price on DocuSign from $55.00 to $45.00 and set an “underweight” rating for the company in a research note on Monday, February 5th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, DocuSign presently has a consensus rating of “Hold” and a consensus target price of $60.25.

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.