SAN FRANCISCO—Allan C. Thygesen, President and Chief Executive Officer of Docusign, Inc. (NASDAQ:DOCU), has sold a significant portion of its common stock, according to a recent filing with the SEC. On December 2, Thygesen sold a total of 7,763 shares of Docusign stock, valued at approximately $625,238. Shares were traded at prices ranging from $79.87 to $81.73 apiece. The sale comes as DocuSign (NASDAQ: InvestingPro data.
The transactions were executed under a predetermined Rule 10b5-1 trading plan, which is a common practice that allows insiders to set a predetermined schedule for selling a company’s stock. Following these sales, Thygesen retains direct ownership of 100,062 shares. With DocuSign’s earnings report through December 5, InvestingPro subscribers can access 16 additional investment tips and extensive analysis on the company’s valuation and growth prospects.
Investors often closely monitor insider trading activity for potential insights into a company’s future performance. However, such transactions can also be routine financial planning moves by executives. The company has shown strong momentum with a 75% return over the past year and maintains a healthy balance sheet with more cash than debt.
In other recent news, Docusign reported strong second-quarter earnings, with revenue up more than 7% year-over-year to $736 million and non-standard operating margins reaching a record 32%. The company’s free cash flow generation was approximately $200 million. This performance was highlighted by the successful launch of the Intelligent Agreement Management (IAM) platform, which garnered positive initial feedback.
Global investment banking firm Jefferies raised its price target on Docusign shares to $95 from $80 previously, maintaining a Buy rating on the stock. This adjustment follows a positive assessment of Docusign’s market position and growth potential. BofA Securities also raised its price target on Docusign to $68 from $60 previously, maintaining a neutral stance.
Looking ahead, Docusign forecasts third-quarter revenue between $743 million and $747 million and full-year 2025 revenue between $2.94 billion and $2.952 billion. Non-GAAP gross margin is expected to be between 81.0% and 82.0% for the third quarter and fiscal 2025, with a projected operating margin of 28.5% to 29.5% for the third quarter and 29.0% up to 29.5% for the whole year. These recent developments highlight Docusign’s momentum and future growth potential.
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