Insider Selling: DocuSign, Inc. (NASDAQ:DOCU) CEO Sells 40,000 Shares of Stock

DocuSign, Inc. (NASDAQ:DOCU - Get Free Report) CEO Allan C. Thygesen sold 40,000 shares of the business's stock in a transaction that occurred 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. The trade was a 20.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

DocuSign Stock Up 0.5 %

Shares of NASDAQ DOCU traded up $0.41 during mid-day trading on Thursday, hitting $90.35. 1,629,510 shares of the company traded hands, compared to its average volume of 3,016,365. The business has a 50 day moving average of $84.77 and a two-hundred day moving average of $67.26. The stock has a market capitalization of $18.25 billion, a price-to-earnings ratio of 18.63, a PEG ratio of 8.72 and a beta of 0.92. DocuSign, Inc. has a 1 year low of $48.70 and a 1 year high of $107.86.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. HSBC reaffirmed a "reduce" rating on shares of DocuSign in a research report on Friday, December 6th. Hsbc Global Res upgraded shares of DocuSign to a "moderate sell" rating in a research note on Friday, December 6th. JMP Securities lifted their price objective on shares of DocuSign from $108.00 to $124.00 and gave the stock a "market outperform" rating in a report on Friday, December 6th. Jefferies Financial Group raised their price target on shares of DocuSign from $80.00 to $95.00 and gave the stock a "buy" rating in a research report on Tuesday, December 3rd. Finally, Bank of America increased their price objective on shares of DocuSign from $60.00 to $68.00 and gave the stock 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 assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $92.45.

Hedge Funds Weigh In On DocuSign

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. purchased a new position in DocuSign during the third quarter valued at approximately $28,000. Brooklyn Investment Group bought a new position in shares of DocuSign in the 3rd quarter valued at approximately $33,000. Reston Wealth Management LLC bought a new stake in shares of DocuSign during the 3rd quarter worth $47,000. nVerses Capital LLC bought a new stake in DocuSign during the second quarter valued at about $48,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in DocuSign in the 3rd quarter valued at approximately $51,000. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

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.