Allan C. Thygesen Sells 7,764 Shares of DocuSign, Inc. (NASDAQ:DOCU) Stock

DocuSign, Inc. (NASDAQ:DOCU) CEO Allan C. Thygesen sold 7,764 shares of DocuSign stock in a transaction on Friday, November 1st. The stock was sold at an average price of $69.95, for a total transaction of $543,091.80. Following the sale, the chief executive officer now owns 107,825 shares of the company’s stock, valued at $7,542,358.75. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

DocuSign Stock Performance

Shares of NASDAQ DOCU opened at $72.25 on Wednesday. The company has a market capitalization of $14.66 billion, a PE ratio of 15.24, a price-to-earnings-growth ratio of 7.52 and a beta of 0.90. The company’s fifty day moving average price is $63.65 and its 200 day moving average price is $58.24. DocuSign, Inc. has a 1 year low of $39.65 and a 1 year high of $73.80.

DocuSign (NASDAQ:DOCU) last posted its earnings results on Thursday, September 5th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.17. DocuSign had a net margin of 34.56% and a return on equity of 16.18%. The business had revenue of $736.03 million for the quarter, compared to analyst estimates of $727.20 million. During the same period in the prior year, the company posted $0.09 EPS. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, equities analysts expect that DocuSign, Inc. will post 1.01 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have commented on DOCU shares. Robert W. Baird lifted their price target on DocuSign from $55.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Citigroup lifted their target price on DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Royal Bank of Canada increased their price target on shares of DocuSign from $52.00 to $57.00 and gave the stock a “sector perform” rating in a report on Friday, September 6th. Wells Fargo & Company lifted their price objective on shares of DocuSign from $48.00 to $50.00 and gave the company an “underweight” rating in a research note on Friday, September 6th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a research note on Friday, September 6th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $63.40.

Hedge Funds Weigh In On DocuSign

Hedge funds have recently bought and sold shares of the business. Oppenheimer Asset Management Inc. lifted its position in shares of DocuSign by 9.7% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 5,442 shares of the company’s stock valued at $338,000 after buying an additional 481 shares in the last quarter. Carrera Capital Advisors purchased a new stake in DocuSign in the 3rd quarter worth $666,000. Victory Capital Management Inc. raised its position in DocuSign by 211.4% during the third quarter. Victory Capital Management Inc. now owns 409,877 shares of the company’s stock worth $25,449,000 after acquiring an additional 278,252 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its holdings in DocuSign by 10.4% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 475,113 shares of the company’s stock valued at $29,500,000 after purchasing an additional 44,615 shares in the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in shares of DocuSign in the third quarter valued at about $327,000. Hedge funds and other institutional investors own 77.64% of the company’s stock.

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.