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 thirteen analysts that are presently covering the firm, MarketBeat reports. Three analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $92.45.

A number of research firms have weighed in on DOCU. Wells Fargo & Company raised their price target on DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a research note on Friday, December 6th. Royal Bank of Canada reissued a “sector perform” rating and set a $90.00 target price (up previously from $57.00) on shares of DocuSign in a research report on Friday, December 6th. UBS Group upped their price target on DocuSign from $60.00 to $100.00 and gave the company a “neutral” rating in a report on Friday, December 6th. JPMorgan Chase & Co. raised their price objective on shares of DocuSign from $50.00 to $70.00 and gave the stock an “underweight” rating in a report on Tuesday, December 3rd. Finally, Robert W. Baird upped their target price on shares of DocuSign from $59.00 to $100.00 and gave the company a “neutral” rating in a report on Friday, December 6th.

DocuSign Trading Up 1.4 %

Shares of NASDAQ:DOCU opened at $89.51 on Friday. DocuSign has a 52 week low of $48.70 and a 52 week high of $107.86. The company’s 50 day moving average is $86.80 and its two-hundred day moving average is $68.58. The company has a market cap of $18.08 billion, a PE ratio of 18.46, a P/E/G ratio of 8.72 and a beta of 0.88.

Insider Transactions at DocuSign

In related news, Director Teresa Briggs sold 534 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $94.60, for a total transaction 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. 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 available at this link. Also, CFO Blake Jeffrey Grayson sold 9,552 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were 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 owns 78,265 shares of the company’s stock, valued at approximately $5,384,632. The trade was a 10.88 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 693,089 shares of company stock worth $66,320,395. Company insiders own 1.66% of the company’s stock.

Hedge Funds Weigh In On DocuSign

A number of large investors have recently modified their holdings of DOCU. State Street Corp grew its holdings in DocuSign by 2.3% during the third quarter. State Street Corp now owns 5,372,939 shares of the company’s stock worth $333,604,000 after acquiring an additional 120,743 shares during the period. American Century Companies Inc. grew its stake in shares of DocuSign by 1.9% during the 2nd quarter. American Century Companies Inc. now owns 4,099,400 shares of the company’s stock worth $219,318,000 after purchasing an additional 75,026 shares during the period. Renaissance Technologies LLC increased its holdings in shares of DocuSign by 18.3% in the 2nd quarter. Renaissance Technologies LLC now owns 3,729,314 shares of the company’s stock valued at $199,518,000 after purchasing an additional 576,414 shares in the last quarter. Pacer Advisors Inc. lifted its stake in shares of DocuSign by 77.9% in the second quarter. Pacer Advisors Inc. now owns 3,519,969 shares of the company’s stock valued at $188,318,000 after purchasing an additional 1,541,816 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of DocuSign by 1.6% in the third quarter. Geode Capital Management LLC now owns 3,483,184 shares of the company’s stock valued at $215,789,000 after purchasing an additional 53,554 shares during the period. 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.