DocuSign, Inc. (NASDAQ:DOCU) Given Average Rating of “Hold” by Analysts

Shares of DocuSign, Inc. (NASDAQ:DOCU) have been given an average recommendation of “Hold” by the eleven ratings firms that are currently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $63.40.

A number of analysts have recently issued reports on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a report on Friday, September 6th. Bank of America upped their price objective on DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Wells Fargo & Company raised their price objective on DocuSign from $48.00 to $50.00 and gave the company an “underweight” rating in a report on Friday, September 6th. Citigroup upped their target price on DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Finally, JMP Securities reissued a “market outperform” rating and set a $84.00 price target on shares of DocuSign in a research note on Thursday, September 5th.

Insider Transactions at DocuSign

In related news, CFO Blake Jeffrey Grayson sold 14,036 shares of the stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $55.47, for a total transaction of $778,576.92. Following the transaction, the chief financial officer now owns 87,611 shares in the company, valued at $4,859,782.17. This represents a 13.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Allan C. Thygesen sold 7,764 shares of DocuSign stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $69.95, for a total transaction of $543,091.80. Following the completion of the sale, the chief executive officer now directly owns 107,825 shares of the company’s stock, valued at approximately $7,542,358.75. This trade represents a 6.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 69,558 shares of company stock valued at $4,272,768 in the last quarter. 1.66% of the stock is owned by insiders.

Hedge Funds Weigh In On DocuSign

A number of institutional investors and hedge funds have recently modified their holdings of DOCU. Toronto Dominion Bank increased its holdings in DocuSign by 30.3% during the third quarter. Toronto Dominion Bank now owns 26,159 shares of the company’s stock valued at $1,624,000 after buying an additional 6,081 shares during the last quarter. Geode Capital Management LLC grew its position in shares of DocuSign by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 3,483,184 shares of the company’s stock valued at $215,789,000 after acquiring an additional 53,554 shares during the period. M&T Bank Corp increased its stake in shares of DocuSign by 5.5% in the 3rd quarter. M&T Bank Corp now owns 10,697 shares of the company’s stock worth $664,000 after purchasing an additional 558 shares in the last quarter. Executive Wealth Management LLC bought a new position in DocuSign in the 3rd quarter worth $2,338,000. Finally, Nomura Asset Management Co. Ltd. lifted its position in DocuSign by 10.1% during the third quarter. Nomura Asset Management Co. Ltd. now owns 148,594 shares of the company’s stock valued at $9,226,000 after purchasing an additional 13,599 shares in the last quarter. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

DocuSign Stock Down 0.9 %

Shares of NASDAQ DOCU opened at $78.81 on Thursday. The firm has a market capitalization of $16.00 billion, a P/E ratio of 16.63, a P/E/G ratio of 8.37 and a beta of 0.90. The stock’s 50-day simple moving average is $68.00 and its two-hundred day simple moving average is $59.80. DocuSign has a twelve month low of $42.12 and a twelve month high of $83.68.

DocuSign (NASDAQ:DOCU) last announced its earnings results on Thursday, September 5th. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.17. DocuSign had a net margin of 34.56% and a return on equity of 16.18%. The business had revenue of $736.03 million for the quarter, compared to the consensus estimate of $727.20 million. During the same period last year, the firm posted $0.09 earnings per share. DocuSign’s quarterly revenue was up 7.0% on a year-over-year basis. As a group, research analysts anticipate that DocuSign will post 1.01 EPS for the current fiscal year.

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.