Other analysts have also recently issued reports about the stock. Zacks Investment Research raised shares of Docusign from a hold rating to a buy rating and set a $64.00 price target on the stock in a research note on Monday, September 10th. Deutsche Bank decreased their price target on shares of Docusign to $50.00 and set a hold rating on the stock in a research note on Friday. JMP Securities increased their price target on shares of Docusign from $63.00 to $68.00 and gave the company a market outperform rating in a research note on Thursday, September 6th. Wedbush began coverage on shares of Docusign in a report on Thursday, October 18th. They issued a neutral rating and a $45.00 price objective on the stock. Finally, Bank of America increased their price objective on shares of Docusign from $63.00 to $64.00 and gave the company a neutral rating in a report on Thursday, September 6th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $59.60.
Shares of DOCU traded down $2.11 during mid-day trading on Friday, hitting $39.66. 4,742,188 shares of the company traded hands, compared to its average volume of 1,618,441. Docusign has a one year low of $35.06 and a one year high of $68.35.
In related news, Director Peter Solvik sold 1,304,348 shares of the stock in a transaction that occurred on Tuesday, September 18th. The shares were sold at an average price of $55.00, for a total value of $71,739,140.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Marshall Wace North America L.P. raised its holdings in Docusign by 142.0% in the third quarter. Marshall Wace North America L.P. now owns 42,183 shares of the company’s stock worth $2,218,000 after purchasing an additional 24,751 shares during the period. Clearbridge Investments LLC raised its holdings in Docusign by 9.0% in the third quarter. Clearbridge Investments LLC now owns 318,950 shares of the company’s stock worth $16,767,000 after purchasing an additional 26,350 shares during the period. Vanguard Group Inc. raised its holdings in Docusign by 3.7% in the third quarter. Vanguard Group Inc. now owns 1,922,947 shares of the company’s stock worth $101,089,000 after purchasing an additional 69,428 shares during the period. Morgan Stanley raised its holdings in Docusign by 539.1% in the third quarter. Morgan Stanley now owns 1,148,284 shares of the company’s stock worth $60,366,000 after purchasing an additional 968,599 shares during the period. Finally, Legal & General Group Plc raised its holdings in Docusign by 64.1% in the third quarter. Legal & General Group Plc now owns 65,008 shares of the company’s stock worth $3,416,000 after purchasing an additional 25,384 shares during the period. Institutional investors and hedge funds own 39.06% of the company’s stock.
Docusign Company Profile
DocuSign, Inc provides cloud based transaction products and services in the United States. The company offers e-signature solution that enables businesses to digitally prepare, execute, and act on agreements. It serves large enterprises, sole proprietorships, small- to medium-sized businesses, professionals, and individuals.
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