SAN FRANCISCO—Alan S. Tiegesen, president and CEO of Docusign, Inc. (NASDAQ:DOCU), sold a significant portion of its common stock, according to a recent SEC filing. On December 2 Thygesen sold a total of 7,763 shares of Docusign stock, valued at approximately $625,238. The shares were sold at a price of 79.87 to 81.73 dollars for each. The sale comes as DocuSign (NASDAQ: InvestingPro data.
The transactions were made pursuant to a predetermined Rule 10b5-1 trading plan, a common practice that allows insiders to set up a predetermined schedule to sell a company’s stock. Following these sales, Thygesen retains direct ownership of 100,062 shares. DocuSign is due to report earnings on Dec. 5, InvestingPro subscribers can access 16 additional investment tips and a comprehensive analysis of the company’s valuation and growth prospects.
Investors often closely monitor insider trading to gain potential insight into a company’s future performance. However, such transactions can also be routine steps of managers in terms of financial planning. The company has shown strong momentum with a 75% return last year and maintains a healthy balance sheet with more cash than debt.
In other recent news, Docusign reported strong Q2 earnings, with revenue up 7% year-over-year to $736 million and non-GAAP operating margin reaching a record 32%. The company’s free cash flow generation was about $200 million. This efficiency was highlighted by the successful launch of the Intelligent Agreement Management (IAM) platform, which received initial positive 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 3Q revenue to be between $743 million and $747 million and full year 2025 revenue to be between $2.94 billion and $2.952 billion. Non-GAAP gross margin is expected to be between 81.0% and 82.0% for 3Q and 2025, and operating margin is forecast to be between 28.5% and 29.5% for 3Q and 29, 0% to 29.5% for the whole year. These latest developments highlight Docusign’s momentum and potential for future growth.
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