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

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

DocuSign Stock Up 0.5 %

DOCU stock traded up $0.41 during trading on Thursday, hitting $90.35. The company had a trading volume of 1,629,510 shares, compared to its average volume of 3,016,365. The stock has a market cap of $18.25 billion, a price-to-earnings ratio of 18.63, a PEG ratio of 8.72 and a beta of 0.92. The firm has a 50-day moving average price of $84.77 and a 200-day moving average price of $67.26. DocuSign, Inc. has a 12 month low of $48.70 and a 12 month high of $107.86.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a research report on Friday, December 6th. JPMorgan Chase & Co. lifted their price target on DocuSign from $50.00 to $70.00 and gave the stock an “underweight” rating in a research report on Tuesday, December 3rd. Wells Fargo & Company raised their price objective on shares of DocuSign from $50.00 to $70.00 and gave the stock an “underweight” rating in a research note on Friday, December 6th. Hsbc Global Res raised shares of DocuSign to a “moderate sell” rating in a research report on Friday, December 6th. Finally, Bank of America increased their target price on shares of DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $92.45.

Hedge Funds Weigh In On DocuSign

Several hedge funds have recently added to or reduced their stakes in DOCU. Toronto Dominion Bank lifted its position in DocuSign by 30.3% during the 3rd quarter. Toronto Dominion Bank now owns 26,159 shares of the company’s stock valued at $1,624,000 after purchasing an additional 6,081 shares during the period. Inspire Investing LLC acquired a new position in DocuSign in the third quarter valued at approximately $911,000. Charles Schwab Investment Management Inc. boosted its stake in DocuSign by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,328,355 shares of the company’s stock valued at $82,478,000 after acquiring an additional 16,014 shares during the last quarter. International Assets Investment Management LLC boosted its stake in DocuSign by 5,660.8% in the third quarter. International Assets Investment Management LLC now owns 438,914 shares of the company’s stock valued at $27,252,000 after acquiring an additional 431,295 shares during the last quarter. Finally, Quantinno Capital Management LP grew its holdings in DocuSign by 39.5% during the 3rd quarter. Quantinno Capital Management LP now owns 201,546 shares of the company’s stock worth $12,514,000 after acquiring an additional 57,104 shares during the period. Institutional investors own 77.64% of the company’s stock.

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.