Docusign (NASDAQ:DOCU) CEO Sells $1,254,225.00 in Stock

Docusign Inc. (NASDAQ:DOCU) CEO Allan Thygesen sold 26,250 shares of the stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $47.78, for a total value of $1,254,225.00. Following the completion of the sale, the chief executive officer owned 152,237 shares of the company’s stock, valued at $7,273,883.86. The trade was a 14.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Docusign Stock Up 0.4%

DOCU traded up $0.20 during midday trading on Thursday, hitting $48.37. 3,274,561 shares of the company were exchanged, compared to its average volume of 5,001,379. The firm has a market capitalization of $9.40 billion, a P/E ratio of 32.68, a P/E/G ratio of 1.93 and a beta of 1.03. Docusign Inc. has a 1-year low of $40.16 and a 1-year high of $94.67. The firm’s 50 day moving average price is $47.77 and its 200-day moving average price is $62.17.

Docusign (NASDAQ:DOCU) last issued its quarterly earnings results on Tuesday, March 17th. The company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.06. Docusign had a return on equity of 16.86% and a net margin of 9.60%.The company had revenue of $836.86 million during the quarter, compared to analysts’ expectations of $828.23 million. During the same quarter in the prior year, the firm posted $0.86 earnings per share. The business’s quarterly revenue was up 7.8% on a year-over-year basis. On average, sell-side analysts predict that Docusign Inc. will post 1.17 earnings per share for the current fiscal year.

Docusign announced that its Board of Directors has approved a stock buyback plan on Tuesday, March 17th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 21% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Institutional Trading of Docusign

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Docusign by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 21,625,551 shares of the company’s stock worth $1,558,986,000 after buying an additional 225,525 shares during the period. State Street Corp grew its stake in Docusign by 0.9% in the fourth quarter. State Street Corp now owns 8,193,805 shares of the company’s stock valued at $560,456,000 after acquiring an additional 77,008 shares during the period. Capital World Investors grew its stake in Docusign by 38.1% in the fourth quarter. Capital World Investors now owns 5,815,804 shares of the company’s stock valued at $397,801,000 after acquiring an additional 1,603,900 shares during the period. Geode Capital Management LLC increased its holdings in shares of Docusign by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 4,084,463 shares of the company’s stock valued at $278,665,000 after acquiring an additional 18,873 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Docusign by 8.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,343,613 shares of the company’s stock worth $228,703,000 after purchasing an additional 251,639 shares during the period. 77.64% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on DOCU shares. Robert W. Baird lowered their price target on shares of Docusign from $75.00 to $55.00 and set a “neutral” rating for the company in a report on Wednesday, March 18th. Citizens Jmp reduced their price objective on shares of Docusign from $124.00 to $86.00 and set a “market outperform” rating on the stock in a research note on Wednesday, March 18th. Piper Sandler decreased their price objective on shares of Docusign from $75.00 to $52.00 and set a “neutral” rating for the company in a research report on Wednesday, March 18th. HSBC set a $53.00 target price on shares of Docusign in a research note on Friday, February 13th. Finally, UBS Group dropped their target price on shares of Docusign from $75.00 to $54.00 and set a “neutral” rating on the stock in a report on Wednesday, March 18th. Five investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $64.67.

Docusign Company Profile

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.