Docusign’s (DOCU) Market Outperform Rating Reiterated at Citizens Jmp

Citizens Jmp reissued their market outperform rating on shares of Docusign (NASDAQ:DOCU) in a research note published on Tuesday,Benzinga reports. They currently have a $86.00 price target on the stock.

DOCU has been the topic of several other reports. UBS Group set a $60.00 price objective on Docusign in a report on Friday, June 5th. Weiss Ratings raised Docusign from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, July 14th. Wedbush cut their price target on Docusign from $60.00 to $58.00 and set a “neutral” rating on the stock in a research note on Friday, June 5th. Wall Street Zen downgraded Docusign from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 2nd. Finally, Wells Fargo & Company lowered their price objective on shares of Docusign from $60.00 to $55.00 and set an “equal weight” rating for the company in a research note on Friday, June 5th. Four equities 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 company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $60.27.

Docusign Price Performance

Shares of DOCU stock opened at $62.28 on Tuesday. The company has a market capitalization of $11.89 billion, a P/E ratio of 40.44, a P/E/G ratio of 1.83 and a beta of 0.87. The company’s 50-day simple moving average is $51.25 and its two-hundred day simple moving average is $48.55. Docusign has a one year low of $40.16 and a one year high of $86.65.

Docusign (NASDAQ:DOCU) last posted its quarterly earnings results on Thursday, June 4th. The company reported $1.09 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.10. The firm had revenue of $830.24 million during the quarter, compared to the consensus estimate of $824.71 million. Docusign had a net margin of 9.59% and a return on equity of 17.48%. The company’s revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.90 earnings per share. On average, research analysts expect that Docusign will post 2.03 EPS for the current fiscal year.

Insider Activity

In related news, CRO Paula Hansen sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $45.54, for a total transaction of $273,240.00. Following the sale, the executive owned 89,972 shares of the company’s stock, valued at $4,097,324.88. This trade represents a 6.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Allan C. Thygesen sold 26,250 shares of Docusign stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $46.02, for a total value of $1,208,025.00. Following the completion of the transaction, the chief executive officer owned 159,038 shares in the company, valued at $7,318,928.76. This trade represents a 14.17% 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. Insiders sold a total of 91,695 shares of company stock worth $4,376,002 over the last ninety days. 0.59% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE lifted its position in Docusign by 23.3% during the 1st quarter. Bank of America Corp DE now owns 1,193,163 shares of the company’s stock worth $56,568,000 after acquiring an additional 225,801 shares during the period. Capital World Investors increased its holdings in shares of Docusign by 38.1% in the fourth quarter. Capital World Investors now owns 5,815,804 shares of the company’s stock valued at $397,801,000 after purchasing an additional 1,603,900 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of Docusign by 247.5% in the second quarter. Assenagon Asset Management S.A. now owns 349,038 shares of the company’s stock worth $15,504,000 after purchasing an additional 248,597 shares during the last quarter. CWM LLC raised its stake in shares of Docusign by 151.8% in the fourth quarter. CWM LLC now owns 47,290 shares of the company’s stock worth $3,235,000 after purchasing an additional 28,511 shares during the last quarter. Finally, United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new stake in shares of Docusign during the fourth quarter worth about $6,897,000. 77.64% of the stock is owned by institutional investors and hedge funds.

About Docusign

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.