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 Docusign stock in a transaction that occurred 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 completion of the transaction, the chief executive officer owned 143,983 shares of the company's stock, valued at approximately $11,160,122.33. The trade was a 21.74% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Docusign Stock Up 0.4%

Docusign stock traded up $0.31 during mid-day trading on Tuesday, hitting $77.95. 1,878,775 shares of the company's stock traded hands, compared to its average volume of 2,866,616. The firm has a 50 day moving average price of $82.03 and a 200 day moving average price of $84.27. The company has a market cap of $15.75 billion, a PE ratio of 14.74, a price-to-earnings-growth ratio of 28.98 and a beta of 1.08. Docusign Inc. has a one year low of $48.80 and a one year high of $107.86.

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

Docusign announced that its board has approved a share buyback program on Thursday, June 5th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 6.6% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board believes its shares are undervalued.

Analyst Ratings Changes

Several brokerages recently issued reports on DOCU. Wedbush cut their price target on Docusign from $100.00 to $85.00 and set a "neutral" rating on the stock in a report on Thursday, June 12th. UBS Group cut their price target on Docusign from $85.00 to $80.00 and set a "neutral" rating on the stock in a report on Friday, June 6th. JPMorgan Chase & Co. cut their price target on Docusign from $81.00 to $77.00 and set a "neutral" rating on the stock in a report on Friday, June 6th. Citigroup cut their price target on Docusign from $115.00 to $110.00 and set a "buy" rating on the stock in a report on Monday, June 9th. Finally, JMP Securities reissued a "market outperform" rating and issued a $124.00 price target on shares of Docusign in a report on Tuesday, June 3rd. Twelve research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $89.77.

Institutional Trading of Docusign

Hedge funds and other institutional investors have recently modified their holdings of the company. Hemington Wealth Management raised its stake in shares of Docusign by 318.1% in the 1st quarter. Hemington Wealth Management now owns 347 shares of the company's stock worth $28,000 after buying an additional 264 shares in the last quarter. Banque Transatlantique SA bought a new stake in shares of Docusign in the 1st quarter worth $26,000. Golden State Wealth Management LLC raised its stake in shares of Docusign by 519.4% in the 1st quarter. Golden State Wealth Management LLC now owns 384 shares of the company's stock worth $31,000 after buying an additional 322 shares in the last quarter. Summit Securities Group LLC bought a new stake in shares of Docusign in the 1st quarter worth $34,000. Finally, Wood Tarver Financial Group LLC acquired a new stake in shares of Docusign during the fourth quarter worth $37,000. Institutional investors own 77.64% of the company's stock.

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.