DocuSign, Inc. (NASDAQ:DOCU) Receives Consensus Recommendation of “Hold” from Brokerages

DocuSign, Inc. (NASDAQ:DOCU) has received an average recommendation of “Hold” from the thirteen analysts that are currently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $92.45.

DOCU has been the topic of several research reports. Piper Sandler upped their price objective on DocuSign from $60.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. JMP Securities reiterated a “market outperform” rating and set a $124.00 price objective on shares of DocuSign in a research note on Tuesday, January 7th. Robert W. Baird lifted their target price on DocuSign from $59.00 to $100.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Royal Bank of Canada reiterated a “sector perform” rating and set a $90.00 price target (up from $57.00) on shares of DocuSign in a research report on Friday, December 6th. Finally, Wells Fargo & Company boosted their price objective on DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a research report on Friday, December 6th.

DocuSign Stock Performance

Shares of DocuSign stock opened at $91.16 on Friday. DocuSign has a 1 year low of $48.70 and a 1 year high of $107.86. The firm’s 50-day simple moving average is $88.26 and its 200-day simple moving average is $69.77. The firm has a market cap of $18.42 billion, a PE ratio of 18.80, a price-to-earnings-growth ratio of 8.17 and a beta of 0.88.

Insider Buying and Selling at DocuSign

In related news, CEO Allan C. Thygesen sold 7,763 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $80.54, for a total transaction of $625,232.02. Following the completion of the sale, the chief executive officer now directly owns 100,062 shares in the company, valued at approximately $8,058,993.48. This trade represents a 7.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Robert Chatwani sold 14,800 shares of the stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $97.76, for a total value of $1,446,848.00. Following the sale, the insider now owns 73,414 shares of the company’s stock, valued at $7,176,952.64. This trade represents a 16.78 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 693,537 shares of company stock valued at $66,575,817. 1.66% of the stock is owned by insiders.

Institutional Investors Weigh In On DocuSign

Large investors have recently made changes to their positions in the company. Toronto Dominion Bank lifted its holdings in shares of DocuSign by 30.3% in the third quarter. Toronto Dominion Bank now owns 26,159 shares of the company’s stock valued at $1,624,000 after purchasing an additional 6,081 shares in the last quarter. Inspire Investing LLC purchased a new stake in shares of DocuSign during the 3rd quarter worth about $911,000. Charles Schwab Investment Management Inc. raised its position in DocuSign by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,328,355 shares of the company’s stock valued at $82,478,000 after acquiring an additional 16,014 shares in the last quarter. International Assets Investment Management LLC lifted its stake in shares of DocuSign by 5,660.8% in the 3rd quarter. International Assets Investment Management LLC now owns 438,914 shares of the company’s stock valued at $27,252,000 after purchasing an additional 431,295 shares during the last quarter. Finally, Quantinno Capital Management LP boosted its holdings in DocuSign by 39.5% in the third quarter. Quantinno Capital Management LP now owns 201,546 shares of the company’s stock worth $12,514,000 after purchasing an additional 57,104 shares in the last quarter. 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.