Insider Selling: DocuSign, Inc. (NASDAQ:DOCU) CEO Sells 7,763 Shares of Stock

DocuSign, Inc. (NASDAQ:DOCU) CEO Allan C. Thygesen sold 7,763 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $80.54, for a total transaction of $625,232.02. Following the sale, the chief executive officer now directly owns 100,062 shares of the company’s stock, valued at approximately $8,058,993.48. The trade was a 7.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

DocuSign Trading Up 0.2 %

DOCU stock traded up $0.19 on Tuesday, hitting $80.45. 2,659,509 shares of the company’s stock traded hands, compared to its average volume of 2,868,764. DocuSign, Inc. has a 1-year low of $44.34 and a 1-year high of $86.75. The stock has a market cap of $16.33 billion, a price-to-earnings ratio of 16.97, a P/E/G ratio of 8.31 and a beta of 0.92. The stock has a fifty day moving average of $72.42 and a 200-day moving average of $61.22.

DocuSign (NASDAQ:DOCU) last posted 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 return on equity of 16.18% and a net margin of 34.56%. The firm had revenue of $736.03 million during the quarter, compared to analysts’ expectations of $727.20 million. During the same quarter in the prior year, the firm posted $0.09 EPS. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, equities research analysts anticipate that DocuSign, Inc. will post 1.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On DocuSign

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Itau Unibanco Holding S.A. acquired a new position in shares of DocuSign during the 3rd quarter worth $28,000. Massmutual Trust Co. FSB ADV grew its holdings in DocuSign by 5,000.0% during the second quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company’s stock valued at $27,000 after purchasing an additional 500 shares during the period. Brooklyn Investment Group bought a new stake in DocuSign during the third quarter valued at approximately $33,000. Mather Group LLC. lifted its holdings in shares of DocuSign by 4,338.5% in the 2nd quarter. Mather Group LLC. now owns 577 shares of the company’s stock worth $31,000 after acquiring an additional 564 shares during the last quarter. Finally, Reston Wealth Management LLC bought a new position in shares of DocuSign during the 3rd quarter valued at $47,000. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

DOCU has been the subject of several recent analyst reports. Citigroup lifted their price objective on shares of DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. JPMorgan Chase & Co. increased their price target on shares of DocuSign from $50.00 to $70.00 and gave the stock an “underweight” rating in a report on Tuesday. Jefferies Financial Group lifted their price target on DocuSign from $80.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday. Bank of America upped their price objective on shares of DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Finally, Robert W. Baird increased their target price on DocuSign from $55.00 to $59.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $70.73.

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.