Docusign (NASDAQ:DOCU) Reaches New 1-Year Low – Should You Sell?

Docusign Inc. (NASDAQ:DOCU)’s stock price hit a new 52-week low during trading on Wednesday . The stock traded as low as $44.71 and last traded at $44.3490, with a volume of 1901131 shares trading hands. The stock had previously closed at $47.62.

Analysts Set New Price Targets

DOCU has been the subject of a number of research analyst reports. Royal Bank Of Canada decreased their price objective on shares of Docusign from $95.00 to $70.00 and set a “sector perform” rating for the company in a report on Monday, January 5th. Piper Sandler cut their target price on Docusign from $90.00 to $75.00 and set a “neutral” rating for the company in a research report on Friday, December 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of Docusign in a research note on Wednesday, January 21st. Wells Fargo & Company lowered their price objective on shares of Docusign from $85.00 to $75.00 and set an “equal weight” rating for the company in a research report on Friday, December 5th. Finally, BTIG Research initiated coverage on shares of Docusign in a research note on Tuesday, December 16th. They set a “buy” rating and a $88.00 price objective for the company. Six investment analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $85.13.

Docusign Stock Performance

The company has a 50 day simple moving average of $62.50 and a 200 day simple moving average of $69.29. The company has a market capitalization of $8.88 billion, a PE ratio of 31.01, a price-to-earnings-growth ratio of 2.08 and a beta of 1.00.

Insider Transactions at Docusign

In other news, CRO Paula Hansen sold 6,000 shares of the stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $67.05, for a total transaction of $402,300.00. Following the completion of the transaction, the executive directly owned 68,970 shares in the company, valued at approximately $4,624,438.50. This represents a 8.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Allan C. Thygesen sold 26,250 shares of the company’s stock in a transaction dated Friday, January 9th. The shares were sold at an average price of $69.60, for a total transaction of $1,827,000.00. Following the completion of the transaction, the chief executive officer directly owned 142,261 shares in the company, valued at $9,901,365.60. The trade was a 15.58% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 78,292 shares of company stock valued at $5,374,260. 1.66% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Docusign

Hedge funds and other institutional investors have recently modified their holdings of the company. Focus Partners Advisor Solutions LLC raised its stake in Docusign by 36.3% in the fourth quarter. Focus Partners Advisor Solutions LLC now owns 6,011 shares of the company’s stock valued at $411,000 after buying an additional 1,601 shares in the last quarter. Cerity Partners LLC boosted its holdings in Docusign by 7.4% in the fourth quarter. Cerity Partners LLC now owns 117,703 shares of the company’s stock valued at $8,051,000 after purchasing an additional 8,101 shares in the last quarter. LPL Financial LLC increased its stake in Docusign by 0.7% in the fourth quarter. LPL Financial LLC now owns 169,425 shares of the company’s stock valued at $11,589,000 after purchasing an additional 1,207 shares during the last quarter. Fiera Capital Corp boosted its holdings in shares of Docusign by 32.1% in the 4th quarter. Fiera Capital Corp now owns 673,688 shares of the company’s stock valued at $46,080,000 after buying an additional 163,798 shares in the last quarter. Finally, Syon Capital LLC grew its position in shares of Docusign by 2.7% in the 4th quarter. Syon Capital LLC now owns 199,888 shares of the company’s stock valued at $13,672,000 after buying an additional 5,309 shares during the last quarter. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Docusign Company Profile

DocuSign, Inc (NASDAQ: DOCU) is a leading provider of electronic signature and digital transaction management solutions. The company’s flagship offering, DocuSign eSignature, enables organizations to send, sign and manage legally binding electronic agreements securely in the cloud. Beyond eSignature, DocuSign’s Agreement Cloud combines contract lifecycle management, document generation, and workflow automation to streamline agreement processes from initiation through execution and storage.

DocuSign’s platform serves a diverse customer base spanning industries such as finance, real estate, healthcare, technology, and government.