Insider Selling: Docusign (NASDAQ:DOCU) CEO Sells 26,250 Shares of Stock

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

Docusign Stock Up 0.4%

Shares of DOCU traded up $0.20 during mid-day trading on Thursday, hitting $48.37. 3,274,561 shares of the company’s stock were exchanged, compared to its average volume of 5,001,379. Docusign Inc. has a 52 week low of $40.16 and a 52 week high of $94.67. The stock’s 50-day simple moving average is $47.77 and its 200-day simple moving average is $62.17. The firm has a market cap of $9.40 billion, a price-to-earnings ratio of 32.68, a price-to-earnings-growth ratio of 1.93 and a beta of 1.03.

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

Docusign declared that its board has approved a share buyback plan on Tuesday, March 17th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the company to buy up to 21% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on DOCU shares. UBS Group decreased 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. Morgan Stanley cut their price target on shares of Docusign from $90.00 to $69.00 and set an “equal weight” rating for the company in a report on Wednesday, March 18th. Royal Bank Of Canada reduced their price target on shares of Docusign from $70.00 to $55.00 and set a “sector perform” rating on the stock in a research report on Wednesday, March 18th. JPMorgan Chase & Co. decreased their price objective on shares of Docusign from $78.00 to $65.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 18th. Finally, HSBC set a $53.00 price objective on shares of Docusign in a research report on Friday, February 13th. Five equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $64.67.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in DOCU. Central Pacific Bank Trust Division acquired a new stake in Docusign during the 4th quarter worth approximately $25,000. Modus Advisors LLC acquired a new position in Docusign in the 4th quarter valued at approximately $27,000. Torren Management LLC bought a new position in shares of Docusign during the fourth quarter valued at $28,000. True Wealth Design LLC raised its stake in shares of Docusign by 105.2% during the fourth quarter. True Wealth Design LLC now owns 433 shares of the company’s stock valued at $30,000 after acquiring an additional 222 shares during the last quarter. Finally, Aventura Private Wealth LLC acquired a new position in shares of Docusign during the fourth quarter worth $30,000. Institutional investors and hedge funds own 77.64% of the company’s stock.

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.