Docusign (NASDAQ:DOCU) CEO Allan Thygesen Sells 26,250 Shares

Docusign Inc. (NASDAQ:DOCU) CEO Allan Thygesen sold 26,250 shares of the stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $47.78, for a total value of $1,254,225.00. Following the sale, the chief executive officer owned 152,237 shares in the company, valued at $7,273,883.86. The trade was a 14.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Docusign Stock Up 0.4%

Shares of DOCU opened at $48.37 on Friday. The business has a fifty day moving average of $47.58 and a 200 day moving average of $62.08. The company has a market cap of $9.40 billion, a PE ratio of 32.68, a P/E/G ratio of 1.88 and a beta of 0.99. Docusign Inc. has a 52-week low of $40.16 and a 52-week high of $94.67.

Docusign (NASDAQ:DOCU) last announced its earnings results on Tuesday, March 17th. The company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.06. The business had revenue of $836.86 million for the quarter, compared to the consensus estimate of $828.23 million. Docusign had a net margin of 9.60% and a return on equity of 16.86%. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.86 earnings per share. As a group, research analysts anticipate that Docusign Inc. will post 1.17 earnings per share for the current fiscal year.

Docusign declared that its board has approved a share repurchase plan on Tuesday, March 17th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 21% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.

Institutional Investors Weigh In On Docusign

A number of institutional investors and hedge funds have recently bought and sold shares of the company. NewEdge Advisors LLC raised its holdings in shares of Docusign by 36.4% in the first quarter. NewEdge Advisors LLC now owns 9,202 shares of the company’s stock valued at $749,000 after acquiring an additional 2,457 shares in the last quarter. Prudential Financial Inc. grew its holdings in Docusign by 24.4% during the 2nd quarter. Prudential Financial Inc. now owns 24,255 shares of the company’s stock worth $1,912,000 after acquiring an additional 4,750 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in Docusign by 8.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 12,463 shares of the company’s stock valued at $971,000 after purchasing an additional 931 shares during the period. Norges Bank purchased a new position in Docusign during the 2nd quarter valued at about $140,987,000. Finally, Beacon Pointe Advisors LLC bought a new stake in shares of Docusign in the 2nd quarter valued at about $280,000. 77.64% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

DOCU has been the subject of a number of recent analyst reports. Wedbush dropped their price objective on Docusign from $85.00 to $75.00 and set a “neutral” rating for the company in a report on Friday, December 5th. Jefferies Financial Group downgraded Docusign from a “buy” rating to a “hold” rating and decreased their target price for the stock from $105.00 to $45.00 in a research report on Monday, February 23rd. Citigroup lowered their target price on shares of Docusign from $120.00 to $99.00 and set a “buy” rating for the company in a research note on Wednesday, March 18th. Robert W. Baird cut their price target on shares of Docusign from $75.00 to $55.00 and set a “neutral” rating on the stock in a report on Wednesday, March 18th. Finally, Wells Fargo & Company decreased their price objective on shares of Docusign from $75.00 to $60.00 and set an “equal weight” rating for the company in a report on Wednesday, March 18th. Five equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Docusign currently has a consensus rating of “Hold” and a consensus target price of $64.67.

Docusign Company Profile

DocuSign, Inc (NASDAQ: DOCU) is a leading provider of electronic signature and digital transaction management solutions. The company’s flagship offering, DocuSign eSignature, enables organizations to send, sign and manage legally binding electronic agreements securely in the cloud. Beyond eSignature, DocuSign’s Agreement Cloud combines contract lifecycle management, document generation, and workflow automation to streamline agreement processes from initiation through execution and storage.

DocuSign’s platform serves a diverse customer base spanning industries such as finance, real estate, healthcare, technology, and government.