The CEO and CFO both selling on the same day is an unusual bearish signal even at small dollar amounts. Monitor upcoming Docusign earnings or any 8-K material event within the next 30 days — the actuarial calibration shows this cluster pattern interacts significantly with earnings/offering/restatement filings. Consider a short-term hedge if the stock approaches $46 resistance.
Price Chart
Executive Summary
Three Docusign executives—including CEO Allan Thygesen and CFO Blake Grayson—sold shares in open-market transactions on July 1, 2026, totaling ~$1.38M. The CEO and CFO both selling on the same day is notable, though the dollar value relative to an $8.5B market cap (~0.016%) is not material in absolute terms. The cluster is amplified by the cross-filing context of a simultaneous press event or earnings/offering proximity, per the actuarial calibration, but the standalone dollar amount suggests routine diversification/scheduled selling rather than imminent negative news.
Key Financial Metrics
Key Facts
- CEO Allan Thygesen sold 4,257 shares at $45.58 (~$194K) on July 1, 2026.
- CFO Blake Grayson sold 14,400 shares at $45.53 (~$656K) on July 1, 2026.
- Chief Legal Officer James Shaughnessy sold 11,754 shares at $45.53 (~$535K) on July 1, 2026.
- Total insider selling in this cluster: ~$1.38M, or ~0.016% of Docusign's $8.5B market cap.
- All three sales were open-market (transaction code S) — not tax-withholding or plan-related.
- The CEO and CFO selling on the same day is a strong signaling event regardless of the small dollar size.
- No 10b5-1 plan or regular pattern evidence is visible in the data to downweight the sales.
Financial Impact
Insider sales of ~$1.38M (0.016% of market cap) — economically trivial in absolute amount, but the combined CEO/CFO open-market sale on the same day is a bearish signal that historically suggests near-term headwinds.
Risk Factors
- CEO/CFO simultaneous same-day open-market sales are rare and have historically preceded negative catalysts.
- The cluster occurs near the end of the quarter (June 30) — sales may be timed for blackout window closure and tax planning, which reduces the bearish signal.
- Docusign has a high institutional ownership; one-day insider sales of this size may be noise if insiders regularly sell for diversification.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-DOCU-1782951599020 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 15, 2026 17d ago | Insider Cluster | $71.85 $66.76 | ▼ −7.08% | ▼ −9.21% | $68.62 (−4.50%) |
Sep 11, 2026 20d ago | Insider Cluster | $69.76 $68.57 | ▼ −1.71% | ▼ −1.81% | $68.62 (−1.63%) |
Sep 9, 2026 23d ago | Insider Cluster | $64.45 $70.40 | ▲ +9.23% | ▲ +9.89% | $68.62 (+6.47%) |
Jul 2, 2026 13w ago | Insider Cluster | $45.77 $48.76 | ▼ −6.53% | ▼ −5.60% | $68.62 (−49.92%) |
Jun 4, 2026 17w ago | 8-K | $47.26 $45.03 | ▼ −4.72% | ▼ −5.29% | $68.62 (+45.20%) |
Jun 2, 2026 17w ago | Insider Cluster | $52.20 $45.13 | ▼ −13.55% | ▼ −9.73% | $68.62 (+31.45%) |
Jun 2, 2026 17w ago | Insider Cluster | $52.20 $45.13 | ▼ −13.55% | ▼ −9.73% | $68.62 (+31.45%) |
Jun 2, 2026 17w ago | Insider Cluster | $52.20 $45.13 | ▼ −13.55% | ▼ −9.73% | $68.62 (+31.45%) |
Apr 3, 2026 25w ago | Insider Cluster | $48.05 $45.42 | ▼ −5.47% | ▼ −9.60% | $68.62 (+42.81%) |
Apr 1, 2026 26w ago | 144 | $48.35 $42.84 | ▼ −11.40% | ▼ −15.01% | $68.62 (+41.91%) |
US Market Status
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