DocuSign (NASDAQ:DOCU) Upgraded at UBS Group

UBS Group upgraded shares of DocuSign (NASDAQ:DOCU) from a sell rating to a neutral rating in a report released on Friday morning, Marketbeat reports. UBS Group currently has $62.00 target price on the stock, up from their prior target price of $48.00.

DOCU has been the subject of several other reports. Morgan Stanley raised shares of DocuSign from an underweight rating to an equal weight rating and raised their target price for the company from $49.00 to $64.00 in a research note on Tuesday, January 16th. TheStreet raised shares of DocuSign from a d+ rating to a c- rating in a research note on Tuesday, December 19th. JMP Securities reissued a market outperform rating and issued a $84.00 price objective on shares of DocuSign in a research note on Monday, January 22nd. Royal Bank of Canada reissued a sector perform rating and issued a $50.00 price objective on shares of DocuSign in a research note on Friday, January 12th. Finally, Wells Fargo & Company dropped their price objective on shares of DocuSign from $55.00 to $45.00 and set an underweight rating for the company in a research note on Monday, February 5th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Hold and a consensus target price of $60.25.

DocuSign Price Performance

Shares of DOCU stock opened at $56.67 on Friday. The company has a market capitalization of $11.64 billion, a price-to-earnings ratio of 157.42, a PEG ratio of 5.15 and a beta of 0.89. The company’s fifty day moving average price is $55.44 and its 200-day moving average price is $51.84. DocuSign has a one year low of $38.11 and a one year high of $64.76.

DocuSign (NASDAQ:DOCU) last posted its earnings results on Thursday, March 7th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.06. The company had revenue of $712.39 million during the quarter, compared to analysts’ expectations of $698.05 million. DocuSign had a net margin of 2.68% and a return on equity of 13.91%. Equities research analysts expect that DocuSign will post 0.86 earnings per share for the current fiscal year.

Insider Activity at DocuSign

In related news, Director Teresa Briggs sold 499 shares of DocuSign stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $52.99, for a total transaction of $26,442.01. Following the completion of the sale, the director now owns 6,169 shares in the company, valued at approximately $326,895.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Teresa Briggs sold 499 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $52.99, for a total value of $26,442.01. Following the completion of the sale, the director now owns 6,169 shares in the company, valued at approximately $326,895.31. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Stephen Shute sold 15,109 shares of the business’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $57.02, for a total transaction of $861,515.18. Following the completion of the sale, the insider now owns 8,959 shares of the company’s stock, valued at approximately $510,842.18. The disclosure for this sale can be found here. Insiders sold 54,871 shares of company stock worth $3,176,199 in the last 90 days. 17.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On DocuSign

Large investors have recently modified their holdings of the business. New York State Teachers Retirement System raised its stake in shares of DocuSign by 0.9% during the 4th quarter. New York State Teachers Retirement System now owns 18,282 shares of the company’s stock worth $1,087,000 after acquiring an additional 163 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its position in DocuSign by 1.9% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 8,965 shares of the company’s stock worth $514,000 after purchasing an additional 164 shares during the last quarter. Integrated Wealth Concepts LLC grew its position in DocuSign by 3.8% during the 4th quarter. Integrated Wealth Concepts LLC now owns 5,009 shares of the company’s stock worth $278,000 after purchasing an additional 182 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. grew its position in DocuSign by 2.7% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,975 shares of the company’s stock worth $415,000 after purchasing an additional 184 shares during the last quarter. Finally, Utah Retirement Systems grew its position in DocuSign by 0.6% during the 2nd quarter. Utah Retirement Systems now owns 34,587 shares of the company’s stock worth $1,984,000 after purchasing an additional 200 shares during the last quarter. Institutional investors 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.