DocuSign’s (DOCU) Hold Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of DocuSign (NASDAQ:DOCU) in a research report released on Tuesday,Benzinga reports.

Other analysts have also recently issued reports about the company. Royal Bank of Canada restated a “sector perform” rating and set a $90.00 price objective (up from $57.00) on shares of DocuSign in a research report on Friday, December 6th. JPMorgan Chase & Co. increased their price objective on shares of DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a research note on Tuesday, December 3rd. Hsbc Global Res upgraded shares of DocuSign to a “moderate sell” rating in a research report on Friday, December 6th. UBS Group upped their target price on shares of DocuSign from $60.00 to $100.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Finally, HSBC restated a “reduce” rating on shares of DocuSign in a research note on Friday, December 6th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $92.45.

DocuSign Stock Down 3.1 %

DOCU opened at $93.85 on Tuesday. DocuSign has a 12-month low of $48.70 and a 12-month high of $107.86. The firm has a market capitalization of $18.96 billion, a P/E ratio of 19.35, a price-to-earnings-growth ratio of 8.74 and a beta of 0.89. The stock’s 50 day moving average price is $92.10 and its two-hundred day moving average price is $73.83.

Insider Activity at DocuSign

In other news, Director Teresa Briggs sold 534 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $94.60, for a total transaction of $50,516.40. Following the completion of the sale, the director now owns 7,736 shares in the company, valued at $731,825.60. The trade was a 6.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Peter Solvik sold 10,000 shares of the firm’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $91.26, for a total value of $912,600.00. Following the completion of the transaction, the director now owns 150,253 shares in the company, valued at approximately $13,712,088.78. This represents a 6.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 685,773 shares of company stock valued at $66,032,726 over the last ninety days. 1.66% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Freestone Capital Holdings LLC grew its position in shares of DocuSign by 38.0% during the 4th quarter. Freestone Capital Holdings LLC now owns 22,104 shares of the company’s stock worth $1,988,000 after buying an additional 6,085 shares during the period. Raymond James Financial Inc. acquired a new stake in DocuSign during the 4th quarter worth $38,449,000. Arizona State Retirement System grew its holdings in DocuSign by 0.5% during the 4th quarter. Arizona State Retirement System now owns 58,954 shares of the company’s stock worth $5,302,000 after acquiring an additional 302 shares during the period. Aigen Investment Management LP bought a new stake in shares of DocuSign during the 4th quarter valued at $432,000. Finally, Proficio Capital Partners LLC acquired a new position in shares of DocuSign in the 4th quarter valued at $4,724,000. 77.64% of the stock is currently owned by institutional investors and hedge funds.

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.