Docusign (NASDAQ:DOCU) Stock Price Up 4.8% – Time to Buy?

Docusign Inc. (NASDAQ:DOCU) shares were up 4.8% during trading on Tuesday . The company traded as high as $72.73 and last traded at $73.1190. 1,167,065 shares were traded during mid-day trading, a decline of 71% from the average daily volume of 4,079,605 shares. The stock had previously closed at $69.76.

Analyst Upgrades and Downgrades

Several analysts have weighed in on DOCU shares. Wall Street Zen cut shares of Docusign from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 2nd. Wedbush lowered their price target on Docusign from $60.00 to $58.00 and set a “neutral” rating for the company in a report on Friday, June 5th. BTIG Research raised their target price on shares of Docusign from $60.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, September 2nd. Citizens Jmp restated a “market outperform” rating and set a $86.00 price target on shares of Docusign in a report on Friday, September 4th. Finally, UBS Group upped their price objective on Docusign from $54.00 to $70.00 and gave the company a “neutral” rating in a research note on Friday, September 4th. Three research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $67.33.

Docusign Trading Down 2.0%

The stock has a market cap of $13.16 billion, a P/E ratio of 42.93, a price-to-earnings-growth ratio of 2.70 and a beta of 0.90. The business has a 50-day simple moving average of $59.16 and a 200 day simple moving average of $51.23.

Docusign (NASDAQ:DOCU) last issued its quarterly earnings data on Thursday, September 3rd. The company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.07. Docusign had a return on equity of 18.29% and a net margin of 9.82%.The company had revenue of $875.75 million during the quarter, compared to the consensus estimate of $867.22 million. During the same period last year, the company earned $0.30 earnings per share. The firm’s revenue was up 9.4% compared to the same quarter last year. As a group, equities analysts expect that Docusign Inc. will post 2.1 earnings per share for the current year.

Insider Transactions at Docusign

In related news, Director Peter Solvik sold 46,000 shares of Docusign stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $65.24, for a total transaction of $3,001,040.00. Following the completion of the transaction, the director owned 49,558 shares of the company’s stock, valued at $3,233,163.92. This trade represents a 48.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert Chatwani sold 15,902 shares of the business’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $43.01, for a total transaction of $683,945.02. Following the completion of the transaction, the insider owned 72,805 shares in the company, valued at approximately $3,131,343.05. The trade was a 17.93% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 183,794 shares of company stock worth $10,557,833. Company insiders own 0.59% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Modus Advisors LLC bought a new stake in shares of Docusign during the 4th quarter valued at about $27,000. Cary Street Partners Investment Advisory LLC increased its holdings in Docusign by 309.5% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 561 shares of the company’s stock worth $38,000 after purchasing an additional 424 shares in the last quarter. Basepoint Wealth LLC acquired a new position in Docusign in the fourth quarter valued at approximately $39,000. WealthCollab LLC lifted its stake in Docusign by 372.4% in the first quarter. WealthCollab LLC now owns 855 shares of the company’s stock valued at $41,000 after buying an additional 674 shares during the period. Finally, Virtus Advisers LLC bought a new position in shares of Docusign during the 2nd quarter worth approximately $47,000. 77.64% of the stock is owned by institutional investors.

About Docusign

DocuSign, Inc is a provider of digital agreement management and electronic signature solutions. Its platform enables individuals and organizations to prepare, send, sign, manage and store agreements electronically, helping businesses replace paper-based contracting processes with digital workflows.

The company’s products and services include DocuSign eSignature, which supports electronic signing and authentication, as well as tools for contract lifecycle management, agreement preparation, identity verification, notarial services and workflow automation.