Insider Selling: DocuSign, Inc. (NASDAQ:DOCU) CEO Sells $454,109.76 in Stock

DocuSign, Inc. (NASDAQ:DOCU) CEO Allan C. Thygesen sold 8,086 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $56.16, for a total value of $454,109.76. Following the completion of the sale, the chief executive officer now owns 99,546 shares of the company’s stock, valued at $5,590,503.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

DocuSign Stock Up 1.8 %

DOCU opened at $59.80 on Friday. The firm has a market cap of $12.28 billion, a P/E ratio of 166.12, a P/E/G ratio of 5.08 and a beta of 0.88. DocuSign, Inc. has a 52 week low of $38.11 and a 52 week high of $64.76. The business has a fifty day simple moving average of $57.24 and a 200-day simple moving average of $53.30.

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

Institutional Investors Weigh In On DocuSign

A number of hedge funds have recently added to or reduced their stakes in DOCU. Vanguard Group Inc. grew its stake in shares of DocuSign by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 21,399,739 shares of the company’s stock worth $1,272,214,000 after acquiring an additional 417,352 shares in the last quarter. Coatue Management LLC purchased a new stake in DocuSign during the 4th quarter worth about $288,274,000. Clearbridge Investments LLC increased its holdings in DocuSign by 4.6% during the 4th quarter. Clearbridge Investments LLC now owns 2,643,464 shares of the company’s stock worth $157,154,000 after purchasing an additional 116,128 shares during the period. Norges Bank acquired a new stake in DocuSign in the 4th quarter valued at about $133,826,000. Finally, AQR Capital Management LLC boosted its stake in shares of DocuSign by 147.4% in the 3rd quarter. AQR Capital Management LLC now owns 1,908,500 shares of the company’s stock valued at $80,157,000 after buying an additional 1,136,948 shares during the period. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Morgan Stanley upgraded DocuSign from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $49.00 to $64.00 in a report on Tuesday, January 16th. Wells Fargo & Company dropped their price objective on shares of DocuSign from $55.00 to $45.00 and set an “underweight” rating for the company in a report on Monday, February 5th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $59.00 target price on shares of DocuSign in a research note on Friday, April 12th. JMP Securities reissued a “market outperform” rating and issued a $84.00 price target on shares of DocuSign in a research note on Friday, April 12th. Finally, Needham & Company LLC restated a “hold” rating on shares of DocuSign in a report on Friday, April 12th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, DocuSign has an average rating of “Hold” and a consensus price target of $60.25.

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.