Needham & Company LLC Reaffirms Hold Rating for DocuSign (NASDAQ:DOCU)

DocuSign (NASDAQ:DOCU)‘s stock had its “hold” rating reaffirmed by equities researchers at Needham & Company LLC in a research note issued on Tuesday,Benzinga reports.

Other equities research analysts also recently issued reports about the company. JMP Securities restated a “market outperform” rating and set a $124.00 price target on shares of DocuSign in a research note on Tuesday, January 7th. Robert W. Baird lifted their price objective on DocuSign from $59.00 to $100.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Jefferies Financial Group lifted their price objective on DocuSign from $80.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. JPMorgan Chase & Co. lifted their price objective on DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a research report on Tuesday, December 3rd. Finally, Royal Bank of Canada reaffirmed 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. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $92.45.

DocuSign Stock Performance

NASDAQ DOCU opened at $96.89 on Tuesday. The stock has a 50-day moving average of $91.77 and a 200 day moving average of $73.66. The company has a market capitalization of $19.57 billion, a price-to-earnings ratio of 19.98, a PEG ratio of 8.74 and a beta of 0.89. DocuSign has a one year low of $48.70 and a one year high of $107.86.

Insiders Place Their Bets

In other DocuSign news, Director Peter Solvik sold 10,000 shares of DocuSign stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $91.26, for a total value of $912,600.00. Following the sale, the director now owns 150,253 shares of the company’s stock, valued at $13,712,088.78. The trade was a 6.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Daniel D. Springer sold 581,588 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $97.04, for a total value of $56,437,299.52. Following the transaction, the director now directly owns 906,430 shares in the company, valued at approximately $87,959,967.20. This represents a 39.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 685,773 shares of company stock valued at $66,032,726 in the last quarter. 1.66% of the stock is currently owned by insiders.

Hedge Funds Weigh In On DocuSign

Several large investors have recently modified their holdings of the stock. Smartleaf Asset Management LLC increased its position in shares of DocuSign by 781.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,204 shares of the company’s stock valued at $202,000 after purchasing an additional 1,954 shares during the last quarter. US Bancorp DE increased its position in shares of DocuSign by 10.7% during the 4th quarter. US Bancorp DE now owns 3,942 shares of the company’s stock valued at $355,000 after purchasing an additional 381 shares during the last quarter. Mutual of America Capital Management LLC bought a new position in shares of DocuSign during the 4th quarter valued at approximately $9,643,000. Verus Capital Partners LLC bought a new position in shares of DocuSign during the 4th quarter valued at approximately $201,000. Finally, QRG Capital Management Inc. increased its position in shares of DocuSign by 93.0% during the 4th quarter. QRG Capital Management Inc. now owns 60,155 shares of the company’s stock valued at $5,410,000 after purchasing an additional 28,980 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.