DocuSign (NASDAQ:DOCU) Upgraded at William Blair

DocuSign (NASDAQ:DOCU) was upgraded by equities researchers at William Blair from a “market perform” rating to an “outperform” rating in a report released on Monday,Benzinga reports.

Several other analysts also recently weighed in on the stock. Morgan Stanley lifted their target price on shares of DocuSign from $62.00 to $97.00 and gave the company an “equal weight” rating in a report on Friday, December 6th. Citigroup boosted their price target on shares of DocuSign from $113.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday. 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. UBS Group dropped their price target on shares of DocuSign from $100.00 to $90.00 and set a “neutral” rating for the company in a research note on Friday. Finally, Jefferies Financial Group boosted their price target on shares of DocuSign from $80.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, DocuSign presently has a consensus rating of “Hold” and an average price target of $95.58.

DocuSign Price Performance

DOCU opened at $85.76 on Monday. The firm has a market capitalization of $17.33 billion, a price-to-earnings ratio of 17.68, a price-to-earnings-growth ratio of 6.94 and a beta of 1.02. The company’s 50 day simple moving average is $87.97 and its two-hundred day simple moving average is $79.52. DocuSign has a 1-year low of $48.70 and a 1-year high of $107.86.

DocuSign (NASDAQ:DOCU) last posted its earnings results on Thursday, March 13th. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.02. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. The firm had revenue of $776.25 million during the quarter, compared to the consensus estimate of $760.94 million. During the same quarter last year, the firm earned $0.76 EPS. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. On average, equities analysts anticipate that DocuSign will post 1.17 earnings per share for the current fiscal year.

Insider Activity at DocuSign

In other news, CEO Allan C. Thygesen sold 40,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $90.04, for a total value of $3,601,600.00. Following the completion of the sale, the chief executive officer now directly owns 156,050 shares of the company’s stock, valued at approximately $14,050,742. This represents a 20.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Robert Chatwani sold 14,800 shares of the company’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 completion of the sale, the insider now directly owns 73,414 shares of the company’s stock, 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. Insiders sold a total of 95,888 shares of company stock valued at $8,856,718 over the last ninety days. Insiders own 1.66% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Wood Tarver Financial Group LLC acquired a new position in shares of DocuSign during the fourth quarter worth about $37,000. Audent Global Asset Management LLC increased its stake in shares of DocuSign by 382.6% during the fourth quarter. Audent Global Asset Management LLC now owns 27,425 shares of the company’s stock worth $2,467,000 after acquiring an additional 21,742 shares during the period. Siemens Fonds Invest GmbH acquired a new position in shares of DocuSign during the fourth quarter worth about $772,000. Fluent Financial LLC acquired a new position in shares of DocuSign during the fourth quarter worth about $694,000. Finally, Total Wealth Planning & Management Inc. acquired a new position in shares of DocuSign during the fourth quarter worth about $312,000. 77.64% of the stock is currently owned by institutional investors and hedge funds.

About DocuSign

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.