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

Shares of DocuSign, Inc. (NASDAQ:DOCU) have earned a consensus rating of “Reduce” from the ten brokerages that are covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $58.33.

Several equities analysts recently issued reports on the stock. JMP Securities reissued a “market outperform” rating and set a $84.00 price target on shares of DocuSign in a report on Monday, January 22nd. Royal Bank of Canada reissued a “sector perform” rating and set a $50.00 price target on shares of DocuSign in a report on Friday, January 12th. Morgan Stanley raised shares of DocuSign from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $49.00 to $64.00 in a research note on Tuesday, January 16th. Wells Fargo & Company dropped their target price on shares of DocuSign from $55.00 to $45.00 and set an “underweight” rating for the company in a research note on Monday, February 5th. Finally, TheStreet raised shares of DocuSign from a “d+” rating to a “c-” rating in a research note on Tuesday, December 19th.

Insider Activity at DocuSign

In other news, CEO Allan C. Thygesen sold 7,680 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $61.27, for a total value of $470,553.60. Following the completion of the transaction, the chief executive officer now owns 111,767 shares in the company, valued at $6,847,964.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Allan C. Thygesen sold 7,680 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $61.27, for a total value of $470,553.60. Following the completion of the transaction, the chief executive officer now owns 111,767 shares in the company, valued at $6,847,964.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider James P. Shaughnessy sold 1,800 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $57.50, for a total transaction of $103,500.00. Following the completion of the transaction, the insider now owns 46,503 shares of the company’s stock, valued at approximately $2,673,922.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 39,871 shares of company stock worth $2,276,199. 17.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its position in DocuSign by 440.0% during the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 270 shares of the company’s stock worth $28,000 after acquiring an additional 220 shares in the last quarter. Capital Analysts LLC raised its position in DocuSign by 781.7% during the fourth quarter. Capital Analysts LLC now owns 529 shares of the company’s stock worth $31,000 after acquiring an additional 469 shares in the last quarter. BluePath Capital Management LLC bought a new stake in DocuSign during the third quarter worth $32,000. McGlone Suttner Wealth Management Inc. bought a new stake in DocuSign during the fourth quarter worth $32,000. Finally, Virtus Fund Advisers LLC bought a new stake in DocuSign during the fourth quarter worth $33,000. Institutional investors and hedge funds own 77.64% of the company’s stock.

DocuSign Stock Performance

Shares of DocuSign stock opened at $60.14 on Wednesday. The firm’s 50-day simple moving average is $55.38 and its 200-day simple moving average is $51.35. DocuSign has a twelve month low of $38.11 and a twelve month high of $64.76. The firm has a market cap of $12.35 billion, a P/E ratio of 167.06, a price-to-earnings-growth ratio of 5.20 and a beta of 0.89.

DocuSign (NASDAQ:DOCU) last issued its earnings results on Thursday, March 7th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.06. DocuSign had a net margin of 2.68% and a return on equity of 13.91%. The business had revenue of $712.39 million for the quarter, compared to analyst estimates of $698.05 million. On average, equities analysts forecast that DocuSign will post 0.86 earnings per share for the current fiscal year.

DocuSign Company Profile

DocuSign, Inc provides electronic signature solution in the United States and internationally. The company provides DocuSign 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; and Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce.