DocuSign, Inc. (NASDAQ:DOCU) CEO Allan C. Thygesen Sells 7,725 Shares

DocuSign, Inc. (NASDAQ:DOCU) CEO Allan C. Thygesen sold 7,725 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $54.89, for a total value of $424,025.25. Following the completion of the transaction, the chief executive officer now directly owns 109,918 shares in the company, valued at approximately $6,033,399.02. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

DocuSign Stock Down 3.5 %

Shares of NASDAQ:DOCU traded down $1.88 during trading on Friday, hitting $51.73. The stock had a trading volume of 2,023,598 shares, compared to its average volume of 2,794,604. DocuSign, Inc. has a 12-month low of $38.11 and a 12-month high of $64.76. The stock has a market capitalization of $10.59 billion, a price-to-earnings ratio of 98.67, a price-to-earnings-growth ratio of 8.63 and a beta of 0.94. The stock has a 50-day simple moving average of $54.05 and a two-hundred day simple moving average of $56.14.

DocuSign (NASDAQ:DOCU) last announced its quarterly earnings data on Thursday, June 6th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.09. DocuSign had a return on equity of 15.44% and a net margin of 3.81%. The firm had revenue of $709.64 million during the quarter, compared to analysts’ expectations of $706.07 million. As a group, sell-side analysts forecast that DocuSign, Inc. will post 0.88 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Robert W. Baird dropped their price target on DocuSign from $65.00 to $55.00 and set a “neutral” rating on the stock in a research report on Friday, June 7th. Royal Bank of Canada dropped their price objective on DocuSign from $59.00 to $52.00 and set a “sector perform” rating on the stock in a research report on Friday, June 7th. Citigroup dropped their price objective on DocuSign from $93.00 to $86.00 and set a “buy” rating on the stock in a research report on Wednesday, June 5th. Piper Sandler dropped their price objective on DocuSign from $65.00 to $60.00 and set a “neutral” rating on the stock in a research report on Friday, June 7th. Finally, Bank of America dropped their price objective on DocuSign from $72.00 to $60.00 and set a “neutral” rating on the stock in a research report on Friday, June 7th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $59.36.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of DOCU. Coatue Management LLC purchased a new position in DocuSign during the fourth quarter valued at approximately $288,274,000. Jericho Capital Asset Management L.P. grew its holdings in DocuSign by 316.6% in the first quarter. Jericho Capital Asset Management L.P. now owns 3,417,908 shares of the company’s stock valued at $203,536,000 after purchasing an additional 2,597,489 shares during the period. Norges Bank acquired a new stake in DocuSign in the fourth quarter valued at approximately $133,826,000. International Assets Investment Management LLC boosted its stake in shares of DocuSign by 4,438.8% in the fourth quarter. International Assets Investment Management LLC now owns 521,912 shares of the company’s stock worth $31,028,000 after acquiring an additional 510,413 shares during the last quarter. Finally, Syon Capital LLC boosted its stake in shares of DocuSign by 450.2% in the fourth quarter. Syon Capital LLC now owns 550,221 shares of the company’s stock worth $32,711,000 after acquiring an additional 450,221 shares during the last quarter. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

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.