Docusign (NASDAQ:DOCU) Stock: Insider Allan Thygesen Sells 26,250 Shares

Key Points

• CEO Allan Thygesen sold 26,250 DocuSign shares at an average price of $69.29, generating approximately $1.82 million. The Rule 10b5-1 transaction reduced his ownership by 13.6%, leaving him with 166,801 shares.
• DocuSign shares fell 1.0% to $69.01, while the company reported quarterly EPS of $1.16 and revenue of $875.75 million—both above analyst expectations. Revenue increased 9.4% year over year.
• Analysts maintain a consensus “Hold” rating, with an average price target of $67.33; institutional investors and hedge funds own 77.64% of the stock.

Docusign Inc. (NASDAQ:DOCU - Get Free Report) CEO Allan Thygesen sold 26,250 shares of the stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $69.29, for a total transaction of $1,818,862.50. Following the completion of the sale, the chief executive officer owned 166,801 shares in the company, valued at approximately $11,557,641.29. This trade represents a 13.60% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Docusign Trading Down 1.0%

Shares of DOCU stock traded down $0.73 on Friday, hitting $69.01. The stock had a trading volume of 1,848,041 shares, compared to its average volume of 3,319,626. Docusign Inc. has a twelve month low of $40.16 and a twelve month high of $75.00. The firm has a market cap of $12.90 billion, a P/E ratio of 42.08, a PEG ratio of 2.58 and a beta of 0.86. The company has a fifty day moving average price of $63.52 and a two-hundred day moving average price of $52.98.

Docusign (NASDAQ:DOCU - Get Free Report) last released its quarterly earnings data on Thursday, September 3rd. The company reported $1.16 EPS for the quarter, beating analysts' consensus estimates of $1.09 by $0.07. The business had revenue of $875.75 million during the quarter, compared to analysts' expectations of $867.22 million. Docusign had a net margin of 9.82% and a return on equity of 18.29%. The firm's quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.30 EPS. On average, analysts expect that Docusign Inc. will post 2.13 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on DOCU. Wells Fargo & Company boosted their price objective on Docusign from $55.00 to $60.00 and gave the company an "equal weight" rating in a research report on Friday, September 4th. Evercore set a $65.00 target price on shares of Docusign in a report on Friday, September 4th. Weiss Ratings raised shares of Docusign from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, August 25th. Jefferies Financial Group lifted their price target on shares of Docusign from $45.00 to $50.00 and gave the company a "hold" rating in a research note on Friday, June 5th. Finally, UBS Group upped their price target on shares of Docusign from $54.00 to $70.00 and gave the company a "neutral" rating in a report on Friday, September 4th. Three investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Docusign currently has an average rating of "Hold" and a consensus price target of $67.33.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of DOCU. Modus Advisors LLC acquired a new stake in Docusign in the 4th quarter valued at approximately $27,000. Harbour Investments Inc. boosted its position in Docusign by 56.6% during the 4th quarter. Harbour Investments Inc. now owns 797 shares of the company's stock worth $55,000 after acquiring an additional 288 shares during the last quarter. WealthCollab LLC boosted its position in Docusign by 372.4% during the 1st quarter. WealthCollab LLC now owns 855 shares of the company's stock worth $41,000 after acquiring an additional 674 shares during the last quarter. Virtus Advisers LLC bought a new position in shares of Docusign during the 2nd quarter worth approximately $47,000. Finally, Rakuten Securities Inc. bought a new position in shares of Docusign during the 2nd quarter worth approximately $49,000. 77.64% of the stock is owned by institutional investors and hedge funds.

Docusign Company Profile

DocuSign, Inc NASDAQ: DOCU provides cloud-based software for electronically signing, managing and automating agreements. Its platform enables individuals and organizations to prepare, send, sign, track and store documents digitally, helping replace paper-based contracting processes.

The company's offerings include electronic signature tools, contract lifecycle management, identity verification and authentication services, document generation, agreement analytics and related workflow automation capabilities.

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