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 stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $56.16, for a total transaction of $454,109.76. Following the transaction, the chief executive officer now owns 99,546 shares of the company’s stock, valued at approximately $5,590,503.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

DocuSign Price Performance

Shares of NASDAQ:DOCU opened at $59.80 on Friday. The company’s fifty day moving average price is $57.07 and its 200-day moving average price is $53.09. The firm has a market capitalization of $12.28 billion, a price-to-earnings ratio of 166.12, a PEG ratio of 4.95 and a beta of 0.88. DocuSign, Inc. has a one year low of $38.11 and a one year high of $64.76.

DocuSign (NASDAQ:DOCU) last announced its 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. DocuSign had a net margin of 2.68% and a return on equity of 13.91%. The company had revenue of $712.39 million during the quarter, compared to analyst estimates of $698.05 million. As a group, equities research analysts expect that DocuSign, Inc. will post 0.87 EPS for the current year.

Hedge Funds Weigh In On DocuSign

Several institutional investors have recently modified their holdings of the company. New York State Teachers Retirement System boosted its stake in DocuSign by 0.9% in the fourth quarter. New York State Teachers Retirement System now owns 18,282 shares of the company’s stock worth $1,087,000 after buying an additional 163 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its stake in shares of DocuSign by 2.7% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,975 shares of the company’s stock valued at $415,000 after purchasing an additional 184 shares in the last quarter. Whittier Trust Co. grew its holdings in shares of DocuSign by 28.8% during the 4th quarter. Whittier Trust Co. now owns 935 shares of the company’s stock valued at $56,000 after purchasing an additional 209 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in DocuSign by 0.3% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 83,899 shares of the company’s stock worth $4,617,000 after purchasing an additional 239 shares during the period. Finally, SeaCrest Wealth Management LLC lifted its stake in DocuSign by 2.2% in the first quarter. SeaCrest Wealth Management LLC now owns 11,327 shares of the company’s stock worth $675,000 after purchasing an additional 240 shares during the last quarter. 77.64% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on DOCU shares. Wells Fargo & Company cut their price objective on shares of DocuSign from $55.00 to $45.00 and set an “underweight” rating for the company in a report on Monday, February 5th. JMP Securities reiterated a “market outperform” rating and issued a $84.00 price target on shares of DocuSign in a research report on Friday, April 12th. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a research note on Friday, April 12th. UBS Group raised DocuSign from a “sell” rating to a “neutral” rating and lifted their target price for the company from $48.00 to $62.00 in a report on Friday, April 12th. Finally, Morgan Stanley raised shares of DocuSign from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $49.00 to $64.00 in a report on Tuesday, January 16th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, DocuSign presently has an average rating of “Hold” and an average price target of $60.25.

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.