UBS Group Lowers DocuSign (NASDAQ:DOCU) Price Target to $90.00

DocuSign (NASDAQ:DOCU) had its price objective trimmed by UBS Group from $100.00 to $90.00 in a research note released on Friday,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other research analysts also recently issued reports on DOCU. Hsbc Global Res upgraded shares of DocuSign to a “moderate sell” rating in a research report on Friday, December 6th. Citigroup restated a “buy” rating on shares of DocuSign in a research report on Thursday, March 6th. Robert W. Baird upped their price target on DocuSign from $59.00 to $100.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Wedbush reaffirmed a “neutral” rating and issued a $100.00 price target on shares of DocuSign in a research note on Friday. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a research note on Friday. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $95.58.

DocuSign Stock Up 14.8 %

Shares of NASDAQ DOCU opened at $85.76 on Friday. The firm’s 50-day simple moving average is $87.97 and its 200 day simple moving average is $79.52. The company has a market cap of $17.33 billion, a price-to-earnings ratio of 17.68, a price-to-earnings-growth ratio of 6.94 and a beta of 1.02. DocuSign has a 12-month low of $48.70 and a 12-month high of $107.86.

DocuSign (NASDAQ:DOCU) last released its earnings results on Thursday, March 13th. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.02. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. The company had revenue of $776.25 million for the quarter, compared to the consensus estimate of $760.94 million. During the same period in the prior year, the company posted $0.76 EPS. The company’s revenue was up 9.0% compared to the same quarter last year. On average, equities analysts expect that DocuSign will post 1.17 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Blake Jeffrey Grayson sold 8,000 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $86.90, for a total transaction of $695,200.00. Following the completion of the sale, the chief financial officer now directly owns 77,851 shares of the company’s stock, valued at approximately $6,765,251.90. This represents a 9.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Peter Solvik sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $91.26, for a total value of $912,600.00. Following the transaction, the director now directly owns 150,253 shares of the company’s stock, valued at approximately $13,712,088.78. This trade represents a 6.24 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 95,888 shares of company stock valued at $8,856,718. 1.66% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On DocuSign

A number of large investors have recently bought and sold shares of DOCU. FMR LLC boosted its position in DocuSign by 178.2% during the 4th quarter. FMR LLC now owns 6,101,024 shares of the company’s stock worth $548,726,000 after acquiring an additional 3,908,139 shares during the last quarter. Invesco Ltd. boosted its position in DocuSign by 283.9% during the 4th quarter. Invesco Ltd. now owns 3,447,275 shares of the company’s stock worth $310,048,000 after acquiring an additional 2,549,310 shares during the last quarter. Norges Bank acquired a new position in DocuSign during the 4th quarter worth approximately $223,196,000. Arrowstreet Capital Limited Partnership boosted its position in DocuSign by 201.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,158,311 shares of the company’s stock worth $194,118,000 after acquiring an additional 1,442,639 shares during the last quarter. Finally, Jericho Capital Asset Management L.P. boosted its position in DocuSign by 34.0% during the 4th quarter. Jericho Capital Asset Management L.P. now owns 4,754,753 shares of the company’s stock worth $427,642,000 after acquiring an additional 1,205,500 shares during the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.

About DocuSign

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.