Docusign Inc. (NASDAQ:DOCU) Given Average Recommendation of “Hold” by Analysts

Docusign Inc. (NASDAQ:DOCU) has earned an average rating of “Hold” from the twenty-two research firms that are covering the company, MarketBeat reports. Sixteen research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $86.80.

DOCU has been the topic of a number of research reports. Piper Sandler cut their target price on shares of Docusign from $90.00 to $75.00 and set a “neutral” rating on the stock in a research note on Friday, December 5th. 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 report on Friday, December 5th. Evercore ISI reduced their target price on Docusign from $92.00 to $80.00 and set an “in-line” rating on the stock in a report on Friday, December 5th. Citigroup increased their target price on Docusign from $110.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, September 4th. Finally, UBS Group lowered their target price on Docusign from $85.00 to $75.00 and set a “neutral” rating for the company in a research note on Friday, December 5th.

Docusign Stock Down 0.6%

Shares of Docusign stock opened at $69.08 on Friday. The business has a 50 day moving average of $69.03 and a 200 day moving average of $73.34. Docusign has a 52 week low of $63.41 and a 52 week high of $99.30. The company has a market cap of $13.83 billion, a PE ratio of 48.31, a P/E/G ratio of 3.42 and a beta of 0.98.

Insider Activity

In other news, Director James A. Beer sold 450 shares of the company’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $68.54, for a total value of $30,843.00. Following the sale, the director directly owned 14,478 shares of the company’s stock, valued at $992,322.12. This represents a 3.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Blake Jeffrey Grayson sold 9,515 shares of the stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $68.33, for a total transaction of $650,159.95. Following the completion of the transaction, the chief financial officer owned 118,213 shares of the company’s stock, valued at approximately $8,077,494.29. The trade was a 7.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 33,542 shares of company stock worth $2,313,580. 1.66% of the stock is currently owned by corporate insiders.

Institutional Trading of Docusign

A number of hedge funds have recently made changes to their positions in DOCU. Kayne Anderson Rudnick Investment Management LLC raised its stake in Docusign by 427.8% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 950 shares of the company’s stock valued at $77,000 after buying an additional 770 shares during the last quarter. Ieq Capital LLC raised its position in shares of Docusign by 1.5% in the 1st quarter. Ieq Capital LLC now owns 16,066 shares of the company’s stock worth $1,308,000 after purchasing an additional 238 shares during the last quarter. B. Metzler seel. Sohn & Co. AG boosted its stake in Docusign by 18.0% in the 1st quarter. B. Metzler seel. Sohn & Co. AG now owns 10,241 shares of the company’s stock worth $834,000 after purchasing an additional 1,564 shares in the last quarter. Truvestments Capital LLC boosted its stake in Docusign by 270.5% in the 1st quarter. Truvestments Capital LLC now owns 4,057 shares of the company’s stock worth $330,000 after purchasing an additional 2,962 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp grew its position in Docusign by 17.9% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 29,809 shares of the company’s stock valued at $2,426,000 after purchasing an additional 4,527 shares during the last quarter. 77.64% of the stock is owned by institutional investors.

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.