DocuSign (NASDAQ:DOCU) Upgraded to Neutral at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of DocuSign (NASDAQ:DOCU) from an underweight rating to a neutral rating in a research report released on Monday, Marketbeat.com reports. The firm currently has $75.00 price objective on the stock, up from their prior price objective of $70.00.

A number of other equities analysts have also recently issued reports on the stock. Morgan Stanley upped their price objective on shares of DocuSign from $62.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Friday, December 6th. Jefferies Financial Group increased their price target on DocuSign from $80.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. HSBC restated a “reduce” rating on shares of DocuSign in a research report on Friday, December 6th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $90.00 target price (up from $57.00) on shares of DocuSign in a research report on Friday, December 6th. Finally, Robert W. Baird boosted their price target on DocuSign from $59.00 to $100.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $92.91.

DocuSign Trading Down 2.5 %

Shares of NASDAQ DOCU opened at $77.86 on Monday. The company has a market cap of $15.73 billion, a price-to-earnings ratio of 16.05, a PEG ratio of 6.94 and a beta of 1.02. DocuSign has a 12 month low of $48.70 and a 12 month high of $107.86. The stock has a 50-day moving average price of $88.78 and a two-hundred day moving average price of $78.90.

Insider Buying and Selling at DocuSign

In other DocuSign news, CFO Blake Jeffrey Grayson sold 8,000 shares of DocuSign stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $86.90, for a total value of $695,200.00. Following the completion of the sale, the chief financial officer now directly owns 77,851 shares in the company, valued at approximately $6,765,251.90. The trade was a 9.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Robert Chatwani sold 14,800 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $97.76, for a total value of $1,446,848.00. Following the transaction, the insider now owns 73,414 shares in the company, valued at $7,176,952.64. The trade was a 16.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 104,422 shares of company stock valued at $9,665,394. 1.66% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On DocuSign

Several hedge funds and other institutional investors have recently bought and sold shares of DOCU. FMR LLC boosted its position in shares of DocuSign by 178.2% during the 4th quarter. FMR LLC now owns 6,101,024 shares of the company’s stock worth $548,726,000 after purchasing an additional 3,908,139 shares in the last quarter. Invesco Ltd. raised its stake in DocuSign by 283.9% during the 4th quarter. Invesco Ltd. now owns 3,447,275 shares of the company’s stock worth $310,048,000 after buying an additional 2,549,310 shares during the period. Norges Bank bought a new position in DocuSign in the fourth quarter worth approximately $223,196,000. Arrowstreet Capital Limited Partnership grew its stake in DocuSign by 201.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,158,311 shares of the company’s stock valued at $194,118,000 after acquiring an additional 1,442,639 shares during the period. Finally, Jericho Capital Asset Management L.P. grew its stake in DocuSign by 34.0% in the fourth quarter. Jericho Capital Asset Management L.P. now owns 4,754,753 shares of the company’s stock valued at $427,642,000 after acquiring an additional 1,205,500 shares during the period. 77.64% of the stock is owned by 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.