Analysts Set DocuSign, Inc. (NASDAQ:DOCU) PT at $92.45

Shares of DocuSign, Inc. (NASDAQ:DOCU) have been assigned an average rating of “Hold” from the thirteen ratings firms that are presently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and three have given a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $92.45.

DOCU has been the subject of several research reports. Royal Bank of Canada reissued a “sector perform” rating and set a $90.00 price objective (up previously from $57.00) on shares of DocuSign in a report on Friday, December 6th. JMP Securities reaffirmed a “market outperform” rating and set a $124.00 price target on shares of DocuSign in a research note on Tuesday, January 7th. Morgan Stanley increased their target price on DocuSign from $62.00 to $97.00 and gave the stock an “equal weight” rating in a research note on Friday, December 6th. UBS Group lifted their price target on shares of DocuSign from $60.00 to $100.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Finally, Wells Fargo & Company increased their target price on shares of DocuSign from $50.00 to $70.00 and gave the stock an “underweight” rating in a report on Friday, December 6th.

Insider Transactions at DocuSign

In other news, CEO Allan C. Thygesen sold 7,763 shares of DocuSign stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $80.54, for a total value of $625,232.02. Following the completion of the sale, the chief executive officer now owns 100,062 shares of the company’s stock, valued at $8,058,993.48. The trade was a 7.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Daniel D. Springer sold 581,588 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $97.04, for a total transaction of $56,437,299.52. Following the transaction, the director now directly owns 906,430 shares in the company, valued at approximately $87,959,967.20. This represents a 39.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 685,773 shares of company stock valued at $66,032,726 in the last ninety days. Corporate insiders own 1.66% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Itau Unibanco Holding S.A. bought a new position in shares of DocuSign in the 3rd quarter worth about $28,000. Kestra Investment Management LLC acquired a new stake in shares of DocuSign in the 4th quarter worth approximately $30,000. Brooklyn Investment Group acquired a new position in shares of DocuSign during the 3rd quarter valued at $33,000. Modus Advisors LLC acquired a new position in DocuSign during the fourth quarter worth about $36,000. Finally, First Horizon Advisors Inc. raised its holdings in shares of DocuSign by 102.6% in the 4th quarter. First Horizon Advisors Inc. now owns 397 shares of the company’s stock worth $36,000 after purchasing an additional 201 shares in the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.

DocuSign Trading Up 0.4 %

DOCU opened at $90.86 on Tuesday. The company has a market capitalization of $18.36 billion, a PE ratio of 18.73, a PEG ratio of 7.56 and a beta of 0.89. The firm’s 50 day simple moving average is $92.58 and its two-hundred day simple moving average is $74.47. DocuSign has a 1-year low of $48.70 and a 1-year high of $107.86.

DocuSign Company Profile

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.