JMP Securities Reaffirms Market Outperform Rating for DocuSign (NASDAQ:DOCU)

DocuSign (NASDAQ:DOCU)‘s stock had its “market outperform” rating restated by analysts at JMP Securities in a report released on Tuesday,Benzinga reports. They presently have a $124.00 price objective on the stock. JMP Securities’ price target would suggest a potential upside of 38.53% from the stock’s previous close.

Other research analysts also recently issued reports about the company. UBS Group increased their target price on DocuSign from $60.00 to $100.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Wells Fargo & Company lifted their price objective on shares of DocuSign from $50.00 to $70.00 and gave the stock an “underweight” rating in a research note on Friday, December 6th. Jefferies Financial Group boosted their target price on shares of DocuSign from $80.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a report on Friday, December 6th. Finally, Piper Sandler boosted their price objective on DocuSign from $60.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, DocuSign has a consensus rating of “Hold” and a consensus target price of $92.45.

DocuSign Trading Up 1.4 %

NASDAQ:DOCU opened at $89.51 on Tuesday. The business’s 50-day moving average is $86.40 and its 200 day moving average is $68.44. DocuSign has a 12 month low of $48.70 and a 12 month high of $107.86. The company has a market capitalization of $18.08 billion, a P/E ratio of 18.46, a P/E/G ratio of 8.72 and a beta of 0.88.

Insider Transactions at DocuSign

In other news, Director Teresa Briggs sold 534 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $94.60, for a total value of $50,516.40. Following the transaction, the director now directly owns 7,736 shares in the company, valued at approximately $731,825.60. This represents a 6.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Allan C. Thygesen sold 7,764 shares of DocuSign stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $69.95, for a total transaction of $543,091.80. Following the sale, the chief executive officer now owns 107,825 shares of the company’s stock, 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 three months, insiders have sold 693,089 shares of company stock worth $66,320,395. 1.66% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On DocuSign

A number of institutional investors have recently modified their holdings of the stock. Toronto Dominion Bank boosted its holdings in shares of DocuSign by 30.3% in the third quarter. Toronto Dominion Bank now owns 26,159 shares of the company’s stock valued at $1,624,000 after purchasing an additional 6,081 shares during the period. Inspire Investing LLC purchased a new stake in shares of DocuSign in the 3rd quarter worth $911,000. Charles Schwab Investment Management Inc. grew its position in shares of DocuSign by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,328,355 shares of the company’s stock worth $82,478,000 after buying an additional 16,014 shares in the last quarter. International Assets Investment Management LLC increased its stake in shares of DocuSign by 5,660.8% during the third quarter. International Assets Investment Management LLC now owns 438,914 shares of the company’s stock valued at $27,252,000 after buying an additional 431,295 shares during the period. Finally, Quantinno Capital Management LP raised its holdings in shares of DocuSign by 39.5% in the third quarter. Quantinno Capital Management LP now owns 201,546 shares of the company’s stock valued at $12,514,000 after acquiring an additional 57,104 shares in the last quarter. 77.64% of the stock is owned by hedge funds and other institutional investors.

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.