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

DocuSign, Inc. (NASDAQ:DOCU) has earned a consensus recommendation of “Hold” from the thirteen analysts that are covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $92.45.

Several equities analysts recently issued reports on DOCU shares. Jefferies Financial Group boosted their target price on shares of DocuSign from $80.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Citigroup increased their target price on shares of DocuSign from $87.00 to $113.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. JMP Securities restated a “market outperform” rating and issued a $124.00 price target on shares of DocuSign in a research note on Tuesday, January 7th. Morgan Stanley increased their price target on DocuSign from $62.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Friday, December 6th. Finally, Wells Fargo & Company upped their target price on DocuSign from $50.00 to $70.00 and gave the stock an “underweight” rating in a research note on Friday, December 6th.

DocuSign Stock Up 2.3 %

DocuSign stock opened at $83.17 on Friday. DocuSign has a 52 week low of $48.70 and a 52 week high of $107.86. The firm has a market cap of $16.80 billion, a price-to-earnings ratio of 17.15, a price-to-earnings-growth ratio of 6.94 and a beta of 0.89. The business’s 50-day moving average price is $90.43 and its 200 day moving average price is $77.57.

Insider Buying and Selling

In other news, insider Robert Chatwani sold 14,800 shares of the business’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $97.76, for a total transaction of $1,446,848.00. Following the transaction, the insider now owns 73,414 shares of the company’s stock, valued at approximately $7,176,952.64. The trade was a 16.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Blake Jeffrey Grayson sold 8,000 shares of the firm’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $86.90, for a total transaction of $695,200.00. Following the sale, the chief financial officer now owns 77,851 shares of the company’s stock, valued at approximately $6,765,251.90. The trade was a 9.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 693,773 shares of company stock worth $66,727,926. 1.66% of the stock is owned by insiders.

Institutional Trading of DocuSign

Hedge funds and other institutional investors have recently made changes to their positions in the company. Creative Planning increased its stake in DocuSign by 5.6% during the third quarter. Creative Planning now owns 14,453 shares of the company’s stock worth $897,000 after acquiring an additional 766 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of DocuSign by 13.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,466 shares of the company’s stock worth $214,000 after purchasing an additional 413 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in DocuSign by 77.8% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 14,603 shares of the company’s stock valued at $907,000 after buying an additional 6,390 shares during the period. Nisa Investment Advisors LLC acquired a new position in DocuSign in the third quarter valued at about $1,503,000. Finally, Pallas Capital Advisors LLC purchased a new position in DocuSign during the third quarter worth about $371,000. 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.