DocuSign, Inc. (NASDAQ:DOCU) CEO Allan C. Thygesen Sells 40,000 Shares of Stock

DocuSign, Inc. (NASDAQ:DOCU) CEO Allan C. Thygesen sold 40,000 shares of the company’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 transaction, the chief executive officer now owns 156,050 shares in the company, valued at $14,050,742. This trade represents a 20.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

DocuSign Trading Up 0.5 %

DOCU opened at $90.35 on Friday. The company’s 50 day moving average is $84.77 and its 200-day moving average is $67.26. The company has a market cap of $18.25 billion, a P/E ratio of 18.63, a PEG ratio of 8.72 and a beta of 0.92. DocuSign, Inc. has a 1-year low of $48.70 and a 1-year high of $107.86.

Institutional Trading of DocuSign

A number of hedge funds have recently added to or reduced their stakes in the stock. Toronto Dominion Bank increased its holdings in shares of DocuSign by 30.3% during the third quarter. Toronto Dominion Bank now owns 26,159 shares of the company’s stock worth $1,624,000 after buying an additional 6,081 shares in the last quarter. Inspire Investing LLC acquired a new position in DocuSign in the 3rd quarter worth about $911,000. Charles Schwab Investment Management Inc. raised its position in DocuSign by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,328,355 shares of the company’s stock valued at $82,478,000 after purchasing an additional 16,014 shares during the last quarter. International Assets Investment Management LLC boosted its stake in shares of DocuSign by 5,660.8% during the third quarter. International Assets Investment Management LLC now owns 438,914 shares of the company’s stock valued at $27,252,000 after purchasing an additional 431,295 shares in the last quarter. Finally, Quantinno Capital Management LP grew its holdings in shares of DocuSign by 39.5% during the third quarter. Quantinno Capital Management LP now owns 201,546 shares of the company’s stock worth $12,514,000 after purchasing an additional 57,104 shares during the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.

Analyst Upgrades and Downgrades

DOCU has been the topic of several research reports. Piper Sandler upped their price target on shares of DocuSign from $60.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Royal Bank of Canada restated a “sector perform” rating and issued a $90.00 price target (up from $57.00) on shares of DocuSign in a research note on Friday, December 6th. JMP Securities upped their price target on shares of DocuSign from $108.00 to $124.00 and gave the company a “market outperform” rating in a research note on Friday, December 6th. Wells Fargo & Company upped their price target on shares of DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a research note on Friday, December 6th. Finally, Bank of America upped their price target on shares of DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $92.45.

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.