DocuSign, Inc. (NASDAQ:DOCU) Given Consensus Recommendation of “Hold” by Brokerages

DocuSign, Inc. (NASDAQ:DOCU) has earned an average rating of “Hold” from the thirteen brokerages that are currently covering the company, MarketBeat reports. Three analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $92.45.

Several research firms have recently issued reports on DOCU. UBS Group lifted their price target on DocuSign from $60.00 to $100.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Royal Bank of Canada restated a “sector perform” rating and set a $90.00 target price (up previously from $57.00) on shares of DocuSign in a research report on Friday, December 6th. Robert W. Baird increased their price target on shares of DocuSign from $59.00 to $100.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a research report on Friday, December 6th. Finally, Citigroup increased their target price on DocuSign from $87.00 to $113.00 and gave the company a “buy” rating in a report on Friday, December 6th.

DocuSign Stock Performance

Shares of DOCU stock opened at $89.51 on Friday. The stock has a fifty day moving average price of $86.80 and a 200 day moving average price of $68.58. The stock has a market cap of $18.08 billion, a PE ratio of 18.46, a P/E/G ratio of 8.72 and a beta of 0.88. DocuSign has a 1 year low of $48.70 and a 1 year high of $107.86.

Insider Activity at DocuSign

In related news, CFO Blake Jeffrey Grayson sold 15,588 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $97.78, for a total value of $1,524,194.64. Following the transaction, the chief financial officer now directly owns 85,851 shares of the company’s stock, valued at approximately $8,394,510.78. This trade represents a 15.37 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Allan C. Thygesen sold 7,764 shares of DocuSign stock in a transaction on Friday, November 1st. The shares were sold at an average price of $69.95, for a total value of $543,091.80. Following the completion of the transaction, the chief executive officer now owns 107,825 shares in the company, valued at $7,542,358.75. The trade was a 6.72 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 693,089 shares of company stock worth $66,320,395. 1.66% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of DOCU. Thrivent Financial for Lutherans purchased a new stake in DocuSign during the second quarter worth approximately $115,795,000. Pacer Advisors Inc. boosted its position in DocuSign by 77.9% during the 2nd quarter. Pacer Advisors Inc. now owns 3,519,969 shares of the company’s stock worth $188,318,000 after purchasing an additional 1,541,816 shares during the period. KBC Group NV increased its holdings in 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 in the last quarter. Renaissance Technologies LLC increased its holdings in 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 in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ raised its position in DocuSign by 151.3% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 865,872 shares of the company’s stock valued at $46,324,000 after purchasing an additional 521,292 shares during the period. Hedge funds and other institutional investors 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.