DocuSign, Inc. (NASDAQ:DOCU) CEO Sells $3,601,600.00 in Stock

DocuSign, Inc. (NASDAQ:DOCU) CEO Allan C. Thygesen sold 40,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $90.04, for a total transaction of $3,601,600.00. Following the completion of the sale, the chief executive officer now owns 156,050 shares of the company’s stock, valued at approximately $14,050,742. This trade represents a 20.40 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

DocuSign Stock Up 0.5 %

Shares of DocuSign stock traded up $0.41 on Thursday, hitting $90.35. 1,629,510 shares of the company’s stock traded hands, compared to its average volume of 3,016,365. DocuSign, Inc. has a 52-week low of $48.70 and a 52-week high of $107.86. The stock has a market cap of $18.25 billion, a P/E ratio of 18.63, a PEG ratio of 8.72 and a beta of 0.92. The firm’s 50-day moving average is $84.77 and its 200 day moving average is $67.26.

Hedge Funds Weigh In On DocuSign

A number of hedge funds and other institutional investors have recently bought and sold shares of DOCU. Garden State Investment Advisory Services LLC acquired a new stake in shares of DocuSign in the third quarter valued at $210,000. Franklin Resources Inc. lifted its holdings in shares of DocuSign by 12.1% during the third quarter. Franklin Resources Inc. now owns 520,925 shares of the company’s stock valued at $35,870,000 after purchasing an additional 56,221 shares during the last quarter. Tidal Investments LLC raised its holdings in DocuSign by 62.8% during the 3rd quarter. Tidal Investments LLC now owns 44,946 shares of the company’s stock worth $2,791,000 after buying an additional 17,339 shares during the period. Optimist Retirement Group LLC lifted its stake in DocuSign by 3.8% during the third quarter. Optimist Retirement Group LLC now owns 4,416 shares of the company’s stock valued at $274,000 after buying an additional 161 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of DocuSign in the third quarter worth about $51,000. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on DOCU shares. Jefferies Financial Group lifted their price target on DocuSign from $80.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Royal Bank of Canada reiterated a “sector perform” rating and set a $90.00 target price (up previously from $57.00) on shares of DocuSign in a report on Friday, December 6th. Bank of America increased their price objective on DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. JPMorgan Chase & Co. boosted their target price on shares of DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a research note on Tuesday, December 3rd. Finally, Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a research note on Friday, December 6th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $92.45.

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.