Docusign (NASDAQ:DOCU) Hits New 12-Month Low – Should You Sell?

Docusign Inc. (NASDAQ:DOCU) shares hit a new 52-week low on Monday . The company traded as low as $40.42 and last traded at $41.0490, with a volume of 796264 shares traded. The stock had previously closed at $44.48.

Analyst Ratings Changes

Several research firms have weighed in on DOCU. Cantor Fitzgerald reissued an “outperform” rating on shares of Docusign in a research report on Wednesday, December 17th. Piper Sandler reduced their target price 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. UBS Group lowered their price target on shares of Docusign from $85.00 to $75.00 and set a “neutral” rating for the company in a report on Friday, December 5th. BTIG Research reduced their price objective on shares of Docusign from $88.00 to $70.00 and set a “buy” rating on the stock in a research note on Wednesday, February 18th. Finally, HSBC set a $53.00 target price on shares of Docusign in a research note on Friday, February 13th. Five research analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $78.80.

Docusign Stock Performance

The stock has a fifty day moving average price of $58.57 and a 200-day moving average price of $67.49. The firm has a market cap of $8.26 billion, a PE ratio of 28.80, a PEG ratio of 1.95 and a beta of 1.01.

Insider Activity at Docusign

In other news, insider James P. Shaughnessy sold 12,000 shares of the company’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 sale, the insider owned 54,550 shares of the company’s stock, valued at $3,656,486.50. This represents a 18.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO Paula Hansen sold 6,000 shares of the firm’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $67.05, for a total value of $402,300.00. Following the sale, the executive owned 68,970 shares in the company, valued at approximately $4,624,438.50. The trade was a 8.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 78,292 shares of company stock valued at $5,374,260 over the last 90 days. Corporate insiders own 1.66% of the company’s stock.

Institutional Investors Weigh In On Docusign

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Central Pacific Bank Trust Division acquired a new stake in shares of Docusign during the fourth quarter valued at about $25,000. Modus Advisors LLC purchased a new stake in Docusign during the 4th quarter worth approximately $27,000. Torren Management LLC acquired a new position in shares of Docusign in the 4th quarter valued at approximately $28,000. Aventura Private Wealth LLC purchased a new position in shares of Docusign during the 4th quarter valued at approximately $30,000. Finally, True Wealth Design LLC grew its position in shares of Docusign by 105.2% during the fourth quarter. True Wealth Design LLC now owns 433 shares of the company’s stock worth $30,000 after buying an additional 222 shares in the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.

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.