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. JMP Securities currently has a $124.00 target price on the stock.

Several other equities research analysts have also weighed in on DOCU. Piper Sandler increased their target price on DocuSign from $60.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Wells Fargo & Company increased their price objective on shares of DocuSign from $50.00 to $70.00 and gave the stock an “underweight” rating in a report on Friday, December 6th. HSBC reissued a “reduce” rating on shares of DocuSign in a research note on Friday, December 6th. Hsbc Global Res upgraded shares of DocuSign to a “moderate sell” rating in a research note on Friday, December 6th. Finally, Robert W. Baird boosted their price objective on DocuSign from $59.00 to $100.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. 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 to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $92.45.

DocuSign Trading Down 3.2 %

NASDAQ:DOCU opened at $88.26 on Tuesday. The firm has a market capitalization of $17.83 billion, a PE ratio of 18.20, a price-to-earnings-growth ratio of 8.72 and a beta of 0.88. DocuSign has a 52 week low of $48.70 and a 52 week high of $107.86. The stock has a 50 day moving average of $85.99 and a 200-day moving average of $68.29.

Insider Activity

In related news, Director Teresa Briggs sold 534 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $94.60, for a total value of $50,516.40. Following the sale, the director now directly owns 7,736 shares in the company, valued at $731,825.60. The trade was a 6.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider James P. Shaughnessy sold 7,500 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was 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 $3,947,732.77. The trade was 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 worth $66,320,395 over the last 90 days. 1.66% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On DocuSign

Institutional investors and hedge funds have recently modified their holdings of the stock. Itau Unibanco Holding S.A. acquired a new position in shares of DocuSign in the 3rd quarter valued at $28,000. Brooklyn Investment Group purchased a new stake in DocuSign during the third quarter valued at about $33,000. Modus Advisors LLC acquired a new position in shares of DocuSign in the fourth quarter worth about $36,000. Reston Wealth Management LLC purchased a new position in shares of DocuSign in the third quarter worth approximately $47,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of DocuSign during the third quarter valued at approximately $51,000. 77.64% of the stock is owned by institutional investors and hedge funds.

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.