DocuSign, Inc. (NASDAQ:DOCU) Given Average Rating of “Hold” by Brokerages

DocuSign, Inc. (NASDAQ:DOCU) has been given an average rating of “Hold” by the twelve research firms that are currently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $59.36.

Several research firms have recently commented on DOCU. Citigroup dropped their price objective on shares of DocuSign from $93.00 to $86.00 and set a “buy” rating on the stock in a report on Wednesday, June 5th. UBS Group raised shares of DocuSign from a “sell” rating to a “neutral” rating and upped their price objective for the company from $48.00 to $62.00 in a report on Friday, April 12th. Bank of America dropped their price objective on shares of DocuSign from $72.00 to $60.00 and set a “neutral” rating on the stock in a report on Friday, June 7th. Robert W. Baird decreased their target price on shares of DocuSign from $65.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, June 7th. Finally, Royal Bank of Canada decreased their target price on shares of DocuSign from $59.00 to $52.00 and set a “sector perform” rating for the company in a research note on Friday, June 7th.

DocuSign Trading Up 1.5 %

NASDAQ:DOCU opened at $53.50 on Monday. The company has a market cap of $10.95 billion, a PE ratio of 102.89, a P/E/G ratio of 4.47 and a beta of 0.89. DocuSign has a twelve month low of $38.11 and a twelve month high of $64.76. The company’s 50 day moving average is $55.65 and its two-hundred day moving average is $56.78.

DocuSign (NASDAQ:DOCU) last released its earnings results on Thursday, June 6th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.09. The company had revenue of $709.64 million for the quarter, compared to the consensus estimate of $706.07 million. DocuSign had a net margin of 3.81% and a return on equity of 15.44%. As a group, analysts expect that DocuSign will post 0.88 EPS for the current fiscal year.

Insiders Place Their Bets

In other DocuSign news, insider James P. Shaughnessy sold 1,800 shares of the company’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $57.50, for a total transaction of $103,500.00. Following the completion of the transaction, the insider now directly owns 46,503 shares in the company, valued at $2,673,922.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Robert Chatwani sold 14,799 shares of the stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $52.17, for a total value of $772,063.83. Following the completion of the sale, the insider now directly owns 68,083 shares in the company, valued at $3,551,890.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider James P. Shaughnessy sold 1,800 shares of the stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $57.50, for a total transaction of $103,500.00. Following the completion of the sale, the insider now owns 46,503 shares of the company’s stock, valued at $2,673,922.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 91,107 shares of company stock worth $4,861,484. Company insiders own 1.66% of the company’s stock.

Institutional Investors Weigh In On DocuSign

Hedge funds have recently modified their holdings of the company. Capital Analysts LLC grew its holdings in shares of DocuSign by 781.7% in the fourth quarter. Capital Analysts LLC now owns 529 shares of the company’s stock valued at $31,000 after purchasing an additional 469 shares during the period. McGlone Suttner Wealth Management Inc. purchased a new position in DocuSign during the fourth quarter worth about $32,000. Register Financial Advisors LLC purchased a new position in DocuSign during the first quarter worth about $37,000. ICA Group Wealth Management LLC purchased a new position in DocuSign during the fourth quarter worth about $39,000. Finally, Whittier Trust Co. boosted its stake in DocuSign by 28.8% during the fourth quarter. Whittier Trust Co. now owns 935 shares of the company’s stock worth $56,000 after buying an additional 209 shares during the period. Hedge funds and other institutional investors own 77.64% of the company’s stock.

About DocuSign

DocuSign, Inc provides electronic signature solution in the United States and internationally. The company provides e-signature solution that enables sending and signing of agreements on various devices; Contract Lifecycle Management (CLM), which automates workflows across the entire agreement process; Document Generation streamlines the process of generating new, custom agreements; and Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce.