Docusign (NASDAQ:DOCU) Coverage Initiated by Analysts at BTIG Research

BTIG Research began coverage on shares of Docusign (NASDAQ:DOCU) in a research report report published on Tuesday, Marketbeat.com reports. The brokerage issued a buy rating and a $88.00 price objective on the stock.

Several other equities research analysts have also weighed in on DOCU. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Docusign in a report on Wednesday, October 8th. Zacks Research cut Docusign from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 24th. Bank of America cut their price objective on shares of Docusign from $102.00 to $82.00 and set a “neutral” rating on the stock in a report on Friday, December 5th. Royal Bank Of Canada restated a “sector perform” rating and set a $95.00 target price on shares of Docusign in a report on Friday, December 5th. Finally, Wedbush decreased their price target on shares of Docusign from $85.00 to $75.00 and set a “neutral” rating for the company in a report on Friday, December 5th. Six equities research analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $86.80.

Docusign Price Performance

DOCU opened at $67.79 on Tuesday. The company has a market capitalization of $13.58 billion, a P/E ratio of 47.41, a P/E/G ratio of 3.39 and a beta of 0.98. The firm’s fifty day moving average price is $68.97 and its two-hundred day moving average price is $74.21. Docusign has a fifty-two week low of $63.41 and a fifty-two week high of $99.71.

Insider Transactions at Docusign

In related news, Director Teresa Briggs sold 365 shares of Docusign stock in a transaction dated Friday, November 28th. The stock was sold at an average price of $69.19, for a total value of $25,254.35. Following the sale, the director owned 8,805 shares of the company’s stock, valued at approximately $609,217.95. The trade was a 3.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James A. Beer sold 450 shares of the company’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $68.54, for a total value of $30,843.00. Following the sale, the director owned 14,478 shares in the company, valued at $992,322.12. The trade was a 3.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 87,542 shares of company stock worth $6,097,905. 1.01% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. IFP Advisors Inc boosted its holdings in shares of Docusign by 31.9% in the 3rd quarter. IFP Advisors Inc now owns 1,955 shares of the company’s stock valued at $145,000 after buying an additional 473 shares during the last quarter. Strategic Advocates LLC acquired a new position in Docusign during the third quarter worth $50,000. CIBC Bancorp USA Inc. bought a new stake in Docusign during the third quarter worth $522,000. Centaurus Financial Inc. lifted its stake in Docusign by 3.4% in the third quarter. Centaurus Financial Inc. now owns 5,582 shares of the company’s stock valued at $402,000 after acquiring an additional 184 shares during the last quarter. Finally, Coldstream Capital Management Inc. grew its position in shares of Docusign by 21.1% in the 3rd quarter. Coldstream Capital Management Inc. now owns 4,147 shares of the company’s stock valued at $299,000 after acquiring an additional 723 shares during the period. Institutional investors and hedge funds 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.