Analysts Set DocuSign, Inc. (NASDAQ:DOCU) Price Target at $92.45

DocuSign, Inc. (NASDAQ:DOCU) has been given an average rating of “Hold” by the thirteen brokerages that are presently covering the firm, MarketBeat reports. Three analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $92.45.

A number of equities research analysts have recently issued reports on DOCU shares. Citigroup increased their target price on DocuSign from $87.00 to $113.00 and gave the company a “buy” rating in a research note on Friday, December 6th. JPMorgan Chase & Co. increased their price objective on shares of DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a research report on Tuesday, December 3rd. Robert W. Baird boosted their target price on shares of DocuSign from $59.00 to $100.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. JMP Securities reaffirmed a “market outperform” rating and set a $124.00 price target on shares of DocuSign in a report on Tuesday, January 7th. Finally, Hsbc Global Res upgraded shares of DocuSign to a “moderate sell” rating in a report on Friday, December 6th.

DocuSign Trading Down 3.1 %

Shares of DocuSign stock opened at $93.85 on Tuesday. The company has a fifty day moving average price of $92.10 and a 200 day moving average price of $73.83. DocuSign has a twelve month low of $48.70 and a twelve month high of $107.86. The stock has a market cap of $18.96 billion, a price-to-earnings ratio of 19.35, a price-to-earnings-growth ratio of 8.74 and a beta of 0.89.

Insiders Place Their Bets

In other DocuSign news, insider Robert Chatwani sold 14,800 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $97.76, for a total value of $1,446,848.00. Following the sale, the insider now directly owns 73,414 shares of the company’s stock, valued at $7,176,952.64. This trade represents a 16.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Blake Jeffrey Grayson sold 15,588 shares of the firm’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $97.78, for a total value of $1,524,194.64. Following the completion of the sale, the chief financial officer now owns 85,851 shares in the company, valued at $8,394,510.78. The trade was a 15.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 685,773 shares of company stock valued at $66,032,726 over the last 90 days. 1.66% of the stock is owned by company insiders.

Institutional Investors Weigh In On DocuSign

Several large investors have recently made changes to their positions in the company. Synergy Financial Group LTD grew its holdings in DocuSign by 3.4% in the 4th quarter. Synergy Financial Group LTD now owns 4,241 shares of the company’s stock worth $381,000 after buying an additional 140 shares in the last quarter. M&T Bank Corp grew its stake in shares of DocuSign by 1.3% in the fourth quarter. M&T Bank Corp now owns 10,840 shares of the company’s stock worth $975,000 after purchasing an additional 143 shares in the last quarter. Avior Wealth Management LLC grew its stake in shares of DocuSign by 36.5% in the fourth quarter. Avior Wealth Management LLC now owns 542 shares of the company’s stock worth $49,000 after purchasing an additional 145 shares in the last quarter. Linden Thomas Advisory Services LLC raised its stake in shares of DocuSign by 1.1% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 13,540 shares of the company’s stock valued at $1,218,000 after purchasing an additional 149 shares in the last quarter. Finally, J.W. Cole Advisors Inc. raised its stake in shares of DocuSign by 2.0% during the third quarter. J.W. Cole Advisors Inc. now owns 7,946 shares of the company’s stock valued at $493,000 after purchasing an additional 155 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.