Allan Thygesen Sells 26,250 Shares of Docusign (NASDAQ:DOCU) Stock

Docusign Inc. (NASDAQ:DOCU) CEO Allan Thygesen sold 26,250 shares of the stock in a transaction that occurred on Friday, January 9th. The shares were sold at an average price of $69.60, for a total transaction of $1,827,000.00. Following the transaction, the chief executive officer owned 142,261 shares in the company, valued at approximately $9,901,365.60. This represents a 15.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Docusign Price Performance

Docusign stock traded down $3.80 during trading hours on Tuesday, reaching $64.51. The stock had a trading volume of 3,618,434 shares, compared to its average volume of 3,235,887. The company has a market cap of $12.92 billion, a price-to-earnings ratio of 45.11, a PEG ratio of 3.39 and a beta of 0.99. Docusign Inc. has a 52 week low of $63.41 and a 52 week high of $99.30. The business’s 50 day moving average price is $68.21 and its 200-day moving average price is $72.77.

Institutional Investors Weigh In On Docusign

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Docusign by 1.1% during the third quarter. Vanguard Group Inc. now owns 21,625,551 shares of the company’s stock worth $1,558,986,000 after acquiring an additional 225,525 shares during the last quarter. State Street Corp raised its position in shares of Docusign by 0.5% during the 3rd quarter. State Street Corp now owns 8,116,797 shares of the company’s stock worth $585,140,000 after purchasing an additional 41,821 shares during the period. American Century Companies Inc. lifted its holdings in shares of Docusign by 1.6% in the 2nd quarter. American Century Companies Inc. now owns 5,564,318 shares of the company’s stock worth $433,405,000 after purchasing an additional 86,560 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Docusign by 1.5% during the second quarter. Geode Capital Management LLC now owns 3,985,808 shares of the company’s stock valued at $309,910,000 after acquiring an additional 59,941 shares during the period. Finally, Invesco Ltd. grew its position in shares of Docusign by 4.5% during the third quarter. Invesco Ltd. now owns 2,690,121 shares of the company’s stock worth $193,931,000 after acquiring an additional 116,047 shares during the last quarter. 77.64% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on DOCU shares. Robert W. Baird decreased their target price on Docusign from $90.00 to $75.00 and set a “neutral” rating on the stock in a research report on Friday, December 5th. JMP Securities restated a “market outperform” rating and set a $124.00 price target on shares of Docusign in a research report on Friday, October 3rd. Wedbush decreased their price target on shares of Docusign from $85.00 to $75.00 and set a “neutral” rating for the company in a research note on Friday, December 5th. Wells Fargo & Company dropped their price target on Docusign from $85.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Friday, December 5th. Finally, Royal Bank Of Canada reduced their price objective on Docusign from $95.00 to $70.00 and set a “sector perform” rating for the company in a research note on Monday, January 5th. Six equities research analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $85.13.

About Docusign

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.