DocuSign, Inc. (NASDAQ:DOCU) CEO Sells $3,601,600.00 in Stock

DocuSign, Inc. (NASDAQ:DOCU) CEO Allan C. Thygesen sold 40,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $90.04, for a total transaction of $3,601,600.00. Following the completion of the sale, the chief executive officer now directly owns 156,050 shares of the company’s stock, valued at approximately $14,050,742. This trade represents a 20.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

DocuSign Trading Down 0.2 %

Shares of DOCU opened at $90.21 on Friday. The firm has a market cap of $18.22 billion, a PE ratio of 18.60, a P/E/G ratio of 8.72 and a beta of 0.92. DocuSign, Inc. has a 12 month low of $48.70 and a 12 month high of $107.86. The stock has a fifty day moving average price of $85.19 and a 200-day moving average price of $67.53.

Institutional Investors Weigh In On DocuSign

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Modus Advisors LLC acquired a new position in shares of DocuSign during the fourth quarter valued at about $36,000. Itau Unibanco Holding S.A. acquired a new position in DocuSign during the 3rd quarter valued at approximately $28,000. Brooklyn Investment Group purchased a new position in shares of DocuSign in the third quarter worth $33,000. Reston Wealth Management LLC acquired a new stake in shares of DocuSign during the third quarter worth $47,000. Finally, GAMMA Investing LLC grew its holdings in shares of DocuSign by 311.8% during the fourth quarter. GAMMA Investing LLC now owns 803 shares of the company’s stock valued at $72,000 after buying an additional 608 shares during the last quarter. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Jefferies Financial Group boosted their price target on DocuSign from $80.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Morgan Stanley increased their price target on DocuSign from $62.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Friday, December 6th. Citigroup raised their price target on DocuSign from $87.00 to $113.00 and gave the company a “buy” rating in a research note on Friday, December 6th. UBS Group increased their target price on shares of DocuSign from $60.00 to $100.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Finally, JPMorgan Chase & Co. boosted their price target on shares of DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a report on Tuesday, December 3rd. Three analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, DocuSign presently has a consensus rating of “Hold” and an average target price of $92.45.

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.