Docusign (NASDAQ:DOCU) Reaches New 12-Month Low Following Analyst Downgrade

Shares of Docusign Inc. (NASDAQ:DOCU) hit a new 52-week low on Friday after Bank of America lowered their price target on the stock from $102.00 to $82.00. Bank of America currently has a neutral rating on the stock. Docusign traded as low as $63.41 and last traded at $66.4960, with a volume of 2254331 shares changing hands. The stock had previously closed at $71.10.

A number of other equities analysts also recently weighed in on DOCU. Needham & Company LLC reaffirmed a “hold” rating on shares of Docusign in a research note on Friday. Wedbush reduced their target price on shares of Docusign from $85.00 to $75.00 and set a “neutral” rating on the stock in a research report on Friday. Robert W. Baird lowered their price target on shares of Docusign from $90.00 to $75.00 and set a “neutral” rating for the company in a report on Friday. UBS Group set a $95.00 price objective on shares of Docusign in a report on Friday, September 5th. Finally, Citigroup raised their target price on Docusign from $110.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, September 4th. Four research analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $89.36.

Insiders Place Their Bets

In related news, CRO Paula Hansen sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 7th. The shares were sold at an average price of $71.33, for a total transaction of $427,980.00. Following the transaction, the executive owned 58,968 shares in the company, valued at $4,206,187.44. This trade represents a 9.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James A. Beer sold 450 shares of Docusign stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $68.54, for a total value of $30,843.00. Following the transaction, the director owned 14,478 shares in the company, valued at approximately $992,322.12. This trade represents a 3.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 103,713 shares of company stock worth $7,791,047. 1.01% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Docusign

A number of institutional investors have recently bought and sold shares of the business. Palogic Value Management L.P. increased its holdings in shares of Docusign by 2.2% in the 1st quarter. Palogic Value Management L.P. now owns 5,438 shares of the company’s stock valued at $443,000 after purchasing an additional 117 shares during the period. Wealthspire Advisors LLC increased its stake in Docusign by 1.9% in the 1st quarter. Wealthspire Advisors LLC now owns 6,579 shares of the company’s stock valued at $536,000 after buying an additional 122 shares during the period. Centaurus Financial Inc. lifted its position in Docusign by 2.6% in the 2nd quarter. Centaurus Financial Inc. now owns 5,398 shares of the company’s stock worth $420,000 after buying an additional 136 shares in the last quarter. Brooklyn Investment Group boosted its stake in shares of Docusign by 24.9% during the 1st quarter. Brooklyn Investment Group now owns 702 shares of the company’s stock valued at $57,000 after buying an additional 140 shares during the period. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in shares of Docusign by 31.3% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 595 shares of the company’s stock valued at $46,000 after acquiring an additional 142 shares in the last quarter. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Docusign Stock Down 6.6%

The firm has a market capitalization of $13.36 billion, a price-to-earnings ratio of 49.95, a P/E/G ratio of 3.51 and a beta of 0.98. The stock’s 50 day moving average price is $69.80 and its two-hundred day moving average price is $75.45.

Docusign (NASDAQ:DOCU) last posted its quarterly earnings results on Thursday, September 4th. The company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.08. The company had revenue of $800.64 million during the quarter, compared to the consensus estimate of $780.35 million. Docusign had a return on equity of 14.01% and a net margin of 9.08%.The business’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period last year, the business earned $0.97 EPS. On average, equities analysts expect that Docusign Inc. will post 1.17 EPS for the current fiscal year.

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.