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

Shares of DocuSign, Inc. (NASDAQ:DOCU) have been given a consensus recommendation of “Hold” by the eleven ratings firms that are currently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $63.40.

A number of analysts recently commented on the company. Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a research report on Friday, September 6th. Robert W. Baird lifted their price objective on DocuSign from $55.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Bank of America lifted their price objective on DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Citigroup boosted their target price on DocuSign from $86.00 to $87.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Finally, JMP Securities reiterated a “market outperform” rating and set a $84.00 price objective on shares of DocuSign in a research note on Thursday, September 5th.

Insider Buying and Selling at DocuSign

In other news, CEO Allan C. Thygesen sold 7,725 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $54.89, for a total transaction of $424,025.25. Following the completion of the sale, the chief executive officer now directly owns 109,918 shares in the company, valued at approximately $6,033,399.02. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Blake Jeffrey Grayson sold 9,552 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $68.80, for a total transaction of $657,177.60. Following the completion of the sale, the chief financial officer now directly owns 78,265 shares in the company, valued at $5,384,632. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Allan C. Thygesen sold 7,725 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $54.89, for a total value of $424,025.25. Following the sale, the chief executive officer now owns 109,918 shares of the company’s stock, valued at approximately $6,033,399.02. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 427,554 shares of company stock valued at $23,129,150 in the last ninety days. 1.66% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On DocuSign

Large investors have recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV increased its stake in shares of DocuSign by 5,000.0% in the second quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company’s stock valued at $27,000 after buying an additional 500 shares during the period. Mather Group LLC. increased its stake in shares of DocuSign by 4,338.5% in the second quarter. Mather Group LLC. now owns 577 shares of the company’s stock valued at $31,000 after buying an additional 564 shares during the period. Register Financial Advisors LLC acquired a new stake in shares of DocuSign in the first quarter valued at about $37,000. nVerses Capital LLC acquired a new stake in DocuSign during the second quarter worth approximately $48,000. Finally, Quarry LP acquired a new stake in DocuSign during the second quarter worth approximately $53,000. 77.64% of the stock is currently owned by institutional investors.

DocuSign Stock Performance

Shares of NASDAQ DOCU opened at $68.99 on Friday. The stock has a market cap of $14.12 billion, a PE ratio of 132.67, a PEG ratio of 7.33 and a beta of 0.92. The business has a fifty day moving average of $61.87 and a two-hundred day moving average of $57.66. DocuSign has a 52-week low of $38.11 and a 52-week high of $73.80.

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 return on equity of 16.18% and a net margin of 34.56%. The company had revenue of $736.03 million during the quarter, compared to analyst estimates of $727.20 million. During the same period last year, the company posted $0.09 earnings per share. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. Analysts predict that DocuSign will post 1.01 earnings per share for the current year.

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.