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

Docusign Inc. (NASDAQ:DOCU - Get Free Report) CEO Allan C. Thygesen sold 40,000 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $77.51, for a total value of $3,100,400.00. Following the sale, the chief executive officer owned 143,983 shares in the company, valued at approximately $11,160,122.33. This represents a 21.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Docusign Trading Up 2.4%

Shares of NASDAQ:DOCU traded up $1.82 on Friday, reaching $78.97. 1,921,166 shares of the company traded hands, compared to its average volume of 2,867,831. The business's 50-day simple moving average is $82.20 and its 200 day simple moving average is $84.50. Docusign Inc. has a 52 week low of $48.80 and a 52 week high of $107.86. The stock has a market capitalization of $15.96 billion, a P/E ratio of 14.93, a price-to-earnings-growth ratio of 29.49 and a beta of 1.08.

Docusign (NASDAQ:DOCU - Get Free Report) last issued its quarterly earnings data on Thursday, June 5th. The company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.81 by $0.09. Docusign had a net margin of 36.50% and a return on equity of 14.27%. The business had revenue of $763.65 million during the quarter, compared to analyst estimates of $748.79 million. During the same period last year, the business posted $0.82 earnings per share. Docusign's quarterly revenue was up 7.6% compared to the same quarter last year. Sell-side analysts expect that Docusign Inc. will post 1.17 EPS for the current fiscal year.

Docusign announced that its Board of Directors has approved a stock buyback program on Thursday, June 5th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 6.6% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board of directors believes its stock is undervalued.

Institutional Trading of Docusign

Several institutional investors and hedge funds have recently bought and sold shares of DOCU. Banque Transatlantique SA purchased a new position in shares of Docusign during the first quarter valued at approximately $26,000. Hemington Wealth Management lifted its holdings in shares of Docusign by 318.1% during the first quarter. Hemington Wealth Management now owns 347 shares of the company's stock valued at $28,000 after purchasing an additional 264 shares during the last quarter. Golden State Wealth Management LLC lifted its holdings in shares of Docusign by 519.4% during the first quarter. Golden State Wealth Management LLC now owns 384 shares of the company's stock valued at $31,000 after purchasing an additional 322 shares during the last quarter. Summit Securities Group LLC purchased a new position in shares of Docusign during the first quarter valued at approximately $34,000. Finally, Wood Tarver Financial Group LLC purchased a new position in shares of Docusign during the fourth quarter valued at approximately $37,000. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on DOCU shares. Citigroup decreased their price target on shares of Docusign from $115.00 to $110.00 and set a "buy" rating on the stock in a report on Monday, June 9th. HSBC raised shares of Docusign from a "reduce" rating to a "hold" rating and set a $70.00 price target on the stock in a report on Friday, April 11th. Wells Fargo & Company raised Docusign from an "underweight" rating to an "equal weight" rating and increased their target price for the company from $67.00 to $80.00 in a research note on Friday, June 13th. William Blair reissued an "outperform" rating on shares of Docusign in a research note on Monday, April 21st. Finally, Jefferies Financial Group reduced their target price on Docusign from $115.00 to $105.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Twelve equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $89.77.

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.