Docusign (NASDAQ:DOCU) CEO Sells $1,208,025.00 in Stock

Docusign Inc. (NASDAQ:DOCUGet Free Report) CEO Allan Thygesen sold 26,250 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $46.02, for a total transaction of $1,208,025.00. Following the transaction, the chief executive officer directly owned 159,038 shares in the company, valued at $7,318,928.76. The trade was a 14.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Docusign Price Performance

NASDAQ DOCU opened at $45.77 on Friday. Docusign Inc. has a fifty-two week low of $40.16 and a fifty-two week high of $86.65. The stock’s 50-day moving average is $46.86 and its two-hundred day moving average is $50.89. The firm has a market cap of $8.74 billion, a P/E ratio of 29.72, a price-to-earnings-growth ratio of 1.35 and a beta of 0.90.

Docusign (NASDAQ:DOCUGet Free Report) last released its quarterly earnings results on Thursday, June 4th. The company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.10. The company had revenue of $830.24 million during the quarter, compared to the consensus estimate of $824.71 million. Docusign had a return on equity of 17.48% and a net margin of 9.59%.The firm’s revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.90 EPS. On average, equities analysts expect that Docusign Inc. will post 2.03 EPS for the current year.

Docusign announced that its Board of Directors has initiated a share repurchase program on Tuesday, March 17th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 21% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. NewEdge Advisors LLC grew its stake in shares of Docusign by 36.4% in the first quarter. NewEdge Advisors LLC now owns 9,202 shares of the company’s stock worth $749,000 after acquiring an additional 2,457 shares during the last quarter. Guggenheim Capital LLC raised its stake in Docusign by 6.7% during the 2nd quarter. Guggenheim Capital LLC now owns 11,543 shares of the company’s stock valued at $899,000 after purchasing an additional 729 shares during the last quarter. State Street Corp raised its stake in Docusign by 3.0% during the 2nd quarter. State Street Corp now owns 8,074,976 shares of the company’s stock valued at $628,960,000 after purchasing an additional 236,494 shares during the last quarter. Sei Investments Co. raised its stake in Docusign by 60.7% during the 2nd quarter. Sei Investments Co. now owns 40,386 shares of the company’s stock valued at $3,146,000 after purchasing an additional 15,247 shares during the last quarter. Finally, Treasurer of the State of North Carolina boosted its holdings in Docusign by 51.0% in the 2nd quarter. Treasurer of the State of North Carolina now owns 189,178 shares of the company’s stock valued at $14,735,000 after purchasing an additional 63,911 shares during the period. 77.64% of the stock is owned by institutional investors.

Analyst Ratings Changes

DOCU has been the topic of a number of recent analyst reports. Morgan Stanley dropped their price target on shares of Docusign from $90.00 to $69.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 18th. Weiss Ratings downgraded shares of Docusign from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, June 26th. UBS Group set a $60.00 target price on shares of Docusign in a research note on Friday, June 5th. Wedbush dropped their target price on shares of Docusign from $60.00 to $58.00 and set a “neutral” rating on the stock in a report on Friday, June 5th. Finally, Robert W. Baird cut their target price on shares of Docusign from $75.00 to $55.00 and set a “neutral” rating for the company in a research report on Wednesday, March 18th. Three research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $60.27.

Read Our Latest Research Report on Docusign

About Docusign

(Get Free Report)

DocuSign, Inc (NASDAQ: DOCU) is a leading provider of electronic signature and digital transaction management solutions. The company’s flagship offering, DocuSign eSignature, enables organizations to send, sign and manage legally binding electronic agreements securely in the cloud. Beyond eSignature, DocuSign’s Agreement Cloud combines contract lifecycle management, document generation, and workflow automation to streamline agreement processes from initiation through execution and storage.

DocuSign’s platform serves a diverse customer base spanning industries such as finance, real estate, healthcare, technology, and government.

Further Reading

Insider Buying and Selling by Quarter for Docusign (NASDAQ:DOCU)

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