Brokerages Set Docusign Inc. (NASDAQ:DOCU) PT at $85.13

Docusign Inc. (NASDAQ:DOCU) has received an average recommendation of “Hold” from the twenty-two analysts that are covering the company, Marketbeat Ratings reports. Sixteen analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $85.1333.

Several research analysts have recently issued reports on the company. Weiss Ratings restated a “hold (c)” rating on shares of Docusign in a research note on Wednesday, October 8th. Piper Sandler cut their price target on shares of Docusign from $90.00 to $75.00 and set a “neutral” rating on the stock in a report on Friday, December 5th. BTIG Research started 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. UBS Group dropped their price objective on shares of Docusign from $85.00 to $75.00 and set a “neutral” rating on the stock in a report on Friday, December 5th. Finally, Cantor Fitzgerald reissued an “outperform” rating on shares of Docusign in a report on Wednesday, December 17th.

Docusign Stock Performance

Shares of DOCU opened at $57.50 on Tuesday. The stock has a 50-day moving average of $66.59 and a two-hundred day moving average of $71.85. The stock has a market cap of $11.52 billion, a P/E ratio of 40.21, a P/E/G ratio of 2.76 and a beta of 0.99. Docusign has a one year low of $55.46 and a one year high of $99.30.

Insider Buying and Selling at Docusign

In other news, insider James P. Shaughnessy sold 12,000 shares of the business’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $67.03, for a total value of $804,360.00. Following the completion of the transaction, the insider owned 54,550 shares of the company’s stock, valued at $3,656,486.50. The trade was a 18.03% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Allan C. Thygesen sold 26,250 shares of the company’s stock in a transaction dated Friday, January 9th. The stock was sold at an average price of $69.60, for a total value of $1,827,000.00. Following the completion of the sale, the chief executive officer owned 142,261 shares in the company, valued at $9,901,365.60. The trade was a 15.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 78,292 shares of company stock worth $5,374,260. Insiders own 1.01% of the company’s stock.

Institutional Investors Weigh In On Docusign

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. NewEdge Advisors LLC lifted its stake in shares of Docusign by 36.4% in the 1st quarter. NewEdge Advisors LLC now owns 9,202 shares of the company’s stock valued at $749,000 after purchasing an additional 2,457 shares during the period. IFM Investors Pty Ltd increased its holdings in Docusign by 5.5% in the second quarter. IFM Investors Pty Ltd now owns 36,401 shares of the company’s stock valued at $2,835,000 after buying an additional 1,912 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of Docusign by 114.1% in the second quarter. Assenagon Asset Management S.A. now owns 512,970 shares of the company’s stock worth $39,955,000 after acquiring an additional 273,357 shares during the period. Farther Finance Advisors LLC boosted its stake in shares of Docusign by 67.6% during the 2nd quarter. Farther Finance Advisors LLC now owns 8,089 shares of the company’s stock worth $630,000 after acquiring an additional 3,262 shares in the last quarter. Finally, Avanza Fonder AB acquired a new stake in shares of Docusign during the 2nd quarter valued at about $969,000. Institutional investors and hedge funds own 77.64% of the company’s stock.

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.