DocuSign’s (DOCU) “Market Outperform” Rating Reiterated at JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of DocuSign (NASDAQ:DOCU) in a research report report published on Tuesday,Benzinga reports. They currently have a $124.00 price target on the stock.

Several other research analysts also recently commented on the company. HSBC reiterated a “reduce” rating on shares of DocuSign in a report on Friday, December 6th. UBS Group boosted their price objective on DocuSign from $60.00 to $100.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Royal Bank of Canada restated a “sector perform” rating and issued a $90.00 target price (up previously from $57.00) on shares of DocuSign in a report on Friday, December 6th. Robert W. Baird upped their price objective on shares of DocuSign from $59.00 to $100.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Finally, JPMorgan Chase & Co. boosted their price target on DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a report on Tuesday, December 3rd. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $92.45.

DocuSign Stock Performance

Shares of DOCU opened at $89.51 on Tuesday. DocuSign has a fifty-two week low of $48.70 and a fifty-two week high of $107.86. The firm has a market cap of $18.08 billion, a price-to-earnings ratio of 18.46, a PEG ratio of 8.72 and a beta of 0.88. The firm has a 50 day moving average price of $86.80 and a 200-day moving average price of $68.58.

Insider Activity at DocuSign

In related news, CFO Blake Jeffrey Grayson sold 9,552 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $68.80, for a total value of $657,177.60. Following the transaction, the chief financial officer now owns 78,265 shares in the company, valued at $5,384,632. The trade was a 10.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider James P. Shaughnessy sold 7,500 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $90.17, for a total transaction of $676,275.00. Following the sale, the insider now owns 43,781 shares of the company’s stock, valued at approximately $3,947,732.77. This represents a 14.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 693,089 shares of company stock valued at $66,320,395 in the last three months. Company insiders own 1.66% of the company’s stock.

Institutional Trading of DocuSign

Institutional investors and hedge funds have recently modified their holdings of the business. State Street Corp raised its position in DocuSign by 2.3% in the 3rd quarter. State Street Corp now owns 5,372,939 shares of the company’s stock worth $333,604,000 after buying an additional 120,743 shares during the last quarter. 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 valued at $219,318,000 after purchasing an additional 75,026 shares during the period. Renaissance Technologies LLC grew its position in DocuSign by 18.3% during the second quarter. Renaissance Technologies LLC now owns 3,729,314 shares of the company’s stock valued at $199,518,000 after buying an additional 576,414 shares during the period. Pacer Advisors Inc. raised its position in DocuSign by 77.9% in the second quarter. Pacer Advisors Inc. now owns 3,519,969 shares of the company’s stock worth $188,318,000 after acquiring an additional 1,541,816 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of DocuSign by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 3,483,184 shares of the company’s stock worth $215,789,000 after acquiring an additional 53,554 shares during the last quarter. Institutional investors 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.