DocuSign (NASDAQ:DOCU – Get Free Report)‘s stock had its “market outperform” rating reiterated by stock analysts at JMP Securities in a report issued on Tuesday,Benzinga reports. They currently have a $124.00 target price on the stock. JMP Securities’ target price would suggest a potential upside of 38.53% from the company’s current price.
Other equities analysts have also issued research reports about the company. Wells Fargo & Company lifted their target price on DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a research note on Friday, December 6th. Hsbc Global Res raised shares of DocuSign to a “moderate sell” rating in a research report on Friday, December 6th. UBS Group increased their target price on shares of DocuSign from $60.00 to $100.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Citigroup lifted their price target on shares of DocuSign from $87.00 to $113.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Finally, JPMorgan Chase & Co. increased their price objective on DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a report on Tuesday, December 3rd. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $92.45.
Read Our Latest Report on DocuSign
DocuSign Trading Up 1.4 %
Insider Buying and Selling at DocuSign
In related news, CEO Allan C. Thygesen sold 7,764 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $69.95, for a total transaction of $543,091.80. Following the completion of the transaction, the chief executive officer now directly owns 107,825 shares in the company, valued at $7,542,358.75. The trade was a 6.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Teresa Briggs sold 534 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $94.60, for a total transaction of $50,516.40. Following the completion of the sale, the director now directly owns 7,736 shares in the company, valued at approximately $731,825.60. The trade was a 6.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 693,089 shares of company stock worth $66,320,395. 1.66% of the stock is currently owned by insiders.
Hedge Funds Weigh In On DocuSign
Several institutional investors and hedge funds have recently modified their holdings of the stock. Thrivent Financial for Lutherans purchased a new position in DocuSign during the second quarter valued at approximately $115,795,000. Pacer Advisors Inc. increased its holdings in shares of DocuSign by 77.9% during the 2nd quarter. Pacer Advisors Inc. now owns 3,519,969 shares of the company’s stock valued at $188,318,000 after purchasing an additional 1,541,816 shares in the last quarter. KBC Group NV lifted its stake in shares of DocuSign by 209.8% in the 3rd quarter. KBC Group NV now owns 1,156,874 shares of the company’s stock valued at $71,830,000 after purchasing an additional 783,419 shares during the period. Renaissance Technologies LLC lifted its stake in shares of DocuSign by 18.3% in the 2nd quarter. Renaissance Technologies LLC now owns 3,729,314 shares of the company’s stock valued at $199,518,000 after purchasing an additional 576,414 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ boosted its holdings in DocuSign by 151.3% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 865,872 shares of the company’s stock worth $46,324,000 after buying an additional 521,292 shares in the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.
DocuSign Company Profile
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.
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