DocuSign’s (DOCU) Neutral Rating Reaffirmed at Wedbush

Wedbush restated their neutral rating on shares of DocuSign (NASDAQ:DOCU) in a research note published on Friday,Benzinga reports. Wedbush currently has a $100.00 price objective on the stock.

A number of other equities research analysts also recently weighed in on the stock. Hsbc Global Res upgraded shares of DocuSign to a “moderate sell” rating in a research note on Friday, December 6th. Citigroup reiterated a “buy” rating on shares of DocuSign in a research note on Thursday, March 6th. Jefferies Financial Group lifted their price target on shares of DocuSign from $80.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Bank of America decreased their price target on shares of DocuSign from $112.00 to $98.00 and set a “neutral” rating on the stock in a research note on Friday. Finally, Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $95.58.

DocuSign Trading Up 14.8 %

Shares of DocuSign stock opened at $85.76 on Friday. The company’s fifty day simple moving average is $87.97 and its 200-day simple moving average is $79.22. The company has a market cap of $17.33 billion, a price-to-earnings ratio of 17.68, a PEG ratio of 6.94 and a beta of 1.02. DocuSign has a 1 year low of $48.70 and a 1 year high of $107.86.

DocuSign (NASDAQ:DOCU) last announced its quarterly earnings data on Thursday, March 13th. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.02. The business had revenue of $776.25 million for the quarter, compared to the consensus estimate of $760.94 million. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. DocuSign’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter last year, the company posted $0.76 earnings per share. As a group, research analysts forecast that DocuSign will post 1.17 earnings per share for the current fiscal year.

Insider Activity at DocuSign

In related news, Director Teresa Briggs sold 534 shares of DocuSign stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $94.60, for a total value of $50,516.40. Following the completion of the transaction, the director now directly owns 7,736 shares of the company’s stock, valued at $731,825.60. The trade was a 6.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Blake Jeffrey Grayson sold 8,000 shares of DocuSign stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $86.90, for a total value of $695,200.00. Following the completion of the transaction, the chief financial officer now directly owns 77,851 shares of the company’s stock, valued at $6,765,251.90. This represents a 9.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 104,422 shares of company stock valued at $9,665,394 over the last ninety days. 1.66% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Toronto Dominion Bank increased its position in DocuSign by 30.3% in the third quarter. Toronto Dominion Bank now owns 26,159 shares of the company’s stock worth $1,624,000 after purchasing an additional 6,081 shares during the period. Charles Schwab Investment Management Inc. increased its position in DocuSign by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,328,355 shares of the company’s stock worth $82,478,000 after purchasing an additional 16,014 shares during the period. Quantinno Capital Management LP increased its position in DocuSign by 39.5% in the third quarter. Quantinno Capital Management LP now owns 201,546 shares of the company’s stock worth $12,514,000 after purchasing an additional 57,104 shares during the period. Rhumbline Advisers increased its position in DocuSign by 118.8% in the fourth quarter. Rhumbline Advisers now owns 608,123 shares of the company’s stock worth $54,695,000 after purchasing an additional 330,136 shares during the period. Finally, KBC Group NV increased its position in DocuSign by 32.7% in the fourth quarter. KBC Group NV now owns 1,535,107 shares of the company’s stock worth $138,067,000 after purchasing an additional 378,233 shares during the period. 77.64% of the stock is owned by institutional investors.

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.