DocuSign, Inc. (NASDAQ:DOCU) CEO Allan C. Thygesen Sells 40,000 Shares of Stock

DocuSign, Inc. (NASDAQ:DOCU) CEO Allan C. Thygesen sold 40,000 shares of DocuSign stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $90.04, for a total value of $3,601,600.00. Following the sale, the chief executive officer now directly owns 156,050 shares in the company, 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 SEC, which is accessible through the SEC website.

DocuSign Stock Performance

Shares of NASDAQ:DOCU opened at $90.21 on Friday. The company has a market capitalization of $18.22 billion, a PE ratio of 18.60, a price-to-earnings-growth ratio of 8.72 and a beta of 0.92. The stock has a fifty day moving average of $85.19 and a 200-day moving average of $67.53. DocuSign, Inc. has a one year low of $48.70 and a one year high of $107.86.

Institutional Investors Weigh In On DocuSign

Several hedge funds have recently modified their holdings of DOCU. Thrivent Financial for Lutherans acquired a new stake in DocuSign during the 2nd quarter worth about $115,795,000. Pacer Advisors Inc. increased its position in shares of DocuSign by 77.9% in the second quarter. Pacer Advisors Inc. now owns 3,519,969 shares of the company’s stock worth $188,318,000 after acquiring an additional 1,541,816 shares in the last quarter. KBC Group NV raised its holdings in shares of DocuSign by 209.8% during the third quarter. KBC Group NV now owns 1,156,874 shares of the company’s stock valued at $71,830,000 after acquiring an additional 783,419 shares during the period. Renaissance Technologies LLC lifted its position in shares of DocuSign by 18.3% in the 2nd quarter. Renaissance Technologies LLC now owns 3,729,314 shares of the company’s stock valued at $199,518,000 after acquiring an additional 576,414 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ boosted its stake in DocuSign by 151.3% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 865,872 shares of the company’s stock worth $46,324,000 after purchasing an additional 521,292 shares during the period. 77.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on DOCU shares. Bank of America lifted their target price on DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Wells Fargo & Company lifted their price objective on shares of DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a research note on Friday, December 6th. Hsbc Global Res upgraded shares of DocuSign to a “moderate sell” rating in a research report on Friday, December 6th. Piper Sandler boosted their price target on shares of DocuSign from $60.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $90.00 price objective (up from $57.00) on shares of DocuSign in a report 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 issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $92.45.

DocuSign Company Profile

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.