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

DocuSign, Inc. (NASDAQ:DOCU) has been given an average rating of “Hold” by the twelve research firms that are currently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $59.36.

Several equities analysts have recently weighed in on DOCU shares. Bank of America reduced their price objective on shares of DocuSign from $72.00 to $60.00 and set a “neutral” rating for the company in a research report on Friday, June 7th. Robert W. Baird reduced their price objective on shares of DocuSign from $65.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, June 7th. Citigroup reduced their price objective on shares of DocuSign from $93.00 to $86.00 and set a “buy” rating for the company in a research note on Wednesday, June 5th. Morgan Stanley reduced their price objective on shares of DocuSign from $65.00 to $62.00 and set an “equal weight” rating for the company in a research note on Friday, June 7th. Finally, UBS Group raised shares of DocuSign from a “sell” rating to a “neutral” rating and upped their price objective for the company from $48.00 to $62.00 in a research note on Friday, April 12th.

DocuSign Trading Up 1.0 %

NASDAQ:DOCU opened at $52.74 on Monday. DocuSign has a twelve month low of $38.11 and a twelve month high of $64.76. The company has a 50-day moving average of $56.14 and a 200-day moving average of $56.79. The firm has a market cap of $10.80 billion, a price-to-earnings ratio of 101.43, a price-to-earnings-growth ratio of 4.36 and a beta of 0.89.

Insider Activity at DocuSign

In related news, CEO Allan C. Thygesen sold 8,086 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $56.16, for a total transaction of $454,109.76. Following the transaction, the chief executive officer now owns 99,546 shares of the company’s stock, valued at $5,590,503.36. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other DocuSign news, Director Peter Solvik sold 15,000 shares of the stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $60.00, for a total transaction of $900,000.00. Following the transaction, the director now owns 783 shares in the company, valued at $46,980. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Allan C. Thygesen sold 8,086 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $56.16, for a total value of $454,109.76. Following the transaction, the chief executive officer now owns 99,546 shares in the company, valued at approximately $5,590,503.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,185 shares of company stock valued at $1,576,779. 1.66% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On DocuSign

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Invesco Ltd. grew its stake in shares of DocuSign by 6.4% in the third quarter. Invesco Ltd. now owns 446,789 shares of the company’s stock worth $18,765,000 after acquiring an additional 26,721 shares during the last quarter. Acadian Asset Management LLC grew its stake in shares of DocuSign by 911.4% in the third quarter. Acadian Asset Management LLC now owns 56,923 shares of the company’s stock worth $2,386,000 after acquiring an additional 51,295 shares during the last quarter. Dark Forest Capital Management LP acquired a new stake in shares of DocuSign in the third quarter worth $931,000. LPL Financial LLC grew its stake in shares of DocuSign by 2.1% in the third quarter. LPL Financial LLC now owns 211,200 shares of the company’s stock worth $8,870,000 after acquiring an additional 4,262 shares during the last quarter. Finally, Cary Street Partners Investment Advisory LLC grew its stake in shares of DocuSign by 26.0% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 2,810 shares of the company’s stock worth $118,000 after acquiring an additional 580 shares during the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.

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.