Allan C. Thygesen Sells 8,086 Shares of DocuSign, Inc. (NASDAQ:DOCU) Stock

DocuSign, Inc. (NASDAQ:DOCU) CEO Allan C. Thygesen sold 8,086 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $56.16, for a total transaction of $454,109.76. Following the sale, the chief executive officer now directly owns 99,546 shares of the company’s stock, valued at approximately $5,590,503.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

DocuSign Stock Up 2.5 %

DOCU stock traded up $1.46 during midday trading on Thursday, hitting $58.76. The company’s stock had a trading volume of 1,066,554 shares, compared to its average volume of 3,160,162. DocuSign, Inc. has a 12 month low of $38.11 and a 12 month high of $64.76. The firm has a market capitalization of $12.07 billion, a price-to-earnings ratio of 162.95, a price-to-earnings-growth ratio of 4.89 and a beta of 0.88. The company has a 50 day moving average of $56.90 and a two-hundred day moving average of $53.06.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings results on Thursday, March 7th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.06. DocuSign had a return on equity of 13.91% and a net margin of 2.68%. The business had revenue of $712.39 million during the quarter, compared to the consensus estimate of $698.05 million. On average, analysts anticipate that DocuSign, Inc. will post 0.87 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of DOCU. Coatue Management LLC bought a new position in shares of DocuSign during the 4th quarter valued at approximately $288,274,000. Norges Bank acquired a new position in shares of DocuSign during the 4th quarter worth approximately $133,826,000. AQR Capital Management LLC increased its position in shares of DocuSign by 147.4% during the third quarter. AQR Capital Management LLC now owns 1,908,500 shares of the company’s stock worth $80,157,000 after purchasing an additional 1,136,948 shares in the last quarter. Jupiter Asset Management Ltd. increased its position in shares of DocuSign by 166.4% during the third quarter. Jupiter Asset Management Ltd. now owns 1,344,703 shares of the company’s stock worth $56,478,000 after purchasing an additional 839,883 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of DocuSign by 77.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,215,650 shares of the company’s stock worth $51,057,000 after purchasing an additional 531,682 shares in the last quarter. 77.64% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

DOCU has been the subject of several research reports. Morgan Stanley raised shares of DocuSign from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $49.00 to $64.00 in a research report on Tuesday, January 16th. JMP Securities reaffirmed a “market outperform” rating and set a $84.00 price target on shares of DocuSign in a research report on Friday, April 12th. UBS Group raised shares of DocuSign from a “sell” rating to a “neutral” rating and upped their price target for the company from $48.00 to $62.00 in a research report on Friday, April 12th. Wells Fargo & Company cut their price objective on DocuSign from $55.00 to $45.00 and set an “underweight” rating for the company in a research note on Monday, February 5th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $59.00 price objective on shares of DocuSign in a research note on Friday, April 12th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, DocuSign presently has a consensus 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.