DocuSign, Inc. (NASDAQ:DOCU) Receives Average Rating of “Hold” from Brokerages

Shares of DocuSign, Inc. (NASDAQ:DOCU) have been given an average recommendation of “Hold” by the thirteen research firms that are presently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $92.45.

Several research firms have commented on DOCU. HSBC restated a “reduce” rating on shares of DocuSign in a research note on Friday, December 6th. UBS Group lifted their target price 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 price target (up from $57.00) on shares of DocuSign in a research note on Friday, December 6th. Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a report on Tuesday, February 4th. Finally, Piper Sandler upped their price target on shares of DocuSign from $60.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th.

Insider Buying and Selling at DocuSign

In other DocuSign news, CFO Blake Jeffrey Grayson sold 15,588 shares of DocuSign stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $97.78, for a total transaction of $1,524,194.64. Following the transaction, the chief financial officer now owns 85,851 shares of the company’s stock, valued at $8,394,510.78. This trade represents a 15.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Allan C. Thygesen sold 7,763 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $80.54, for a total transaction of $625,232.02. Following the completion of the transaction, the chief executive officer now owns 100,062 shares in the company, valued at approximately $8,058,993.48. The trade was a 7.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 685,773 shares of company stock valued at $66,032,726. 1.66% of the stock is currently owned by insiders.

Institutional Trading of DocuSign

A number of institutional investors have recently added to or reduced their stakes in the stock. Toronto Dominion Bank grew its position in DocuSign by 30.3% in the third quarter. Toronto Dominion Bank now owns 26,159 shares of the company’s stock worth $1,624,000 after acquiring an additional 6,081 shares in the last quarter. Inspire Investing LLC bought a new position in shares of DocuSign in the 3rd quarter worth approximately $911,000. Charles Schwab Investment Management Inc. lifted its position in DocuSign by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,328,355 shares of the company’s stock valued at $82,478,000 after buying an additional 16,014 shares during the period. International Assets Investment Management LLC lifted its position in DocuSign by 5,660.8% during the 3rd quarter. International Assets Investment Management LLC now owns 438,914 shares of the company’s stock valued at $27,252,000 after acquiring an additional 431,295 shares during the period. Finally, Quantinno Capital Management LP boosted its position in shares of DocuSign by 39.5% in the 3rd quarter. Quantinno Capital Management LP now owns 201,546 shares of the company’s stock worth $12,514,000 after purchasing an additional 57,104 shares in the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.

DocuSign Trading Up 0.4 %

DOCU stock opened at $90.86 on Tuesday. The firm has a market cap of $18.36 billion, a PE ratio of 18.73, a P/E/G ratio of 7.56 and a beta of 0.89. The business’s 50-day moving average price is $92.58 and its two-hundred day moving average price is $74.47. DocuSign has a 1-year low of $48.70 and a 1-year high of $107.86.

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.