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

DocuSign, Inc. (NASDAQ:DOCU) has received an average rating of “Hold” from the thirteen brokerages that are currently covering the company, MarketBeat reports. Three analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $92.45.

A number of equities analysts have recently weighed in on DOCU shares. Jefferies Financial Group boosted their price target on DocuSign from $80.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Citigroup boosted their target price on shares of DocuSign from $87.00 to $113.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $90.00 price target (up from $57.00) on shares of DocuSign in a research note on Friday, December 6th. Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a report on Tuesday, February 4th. Finally, UBS Group upped their price objective on shares of DocuSign from $60.00 to $100.00 and gave the company a “neutral” rating in a research note on Friday, December 6th.

Insider Buying and Selling at DocuSign

In other news, CEO Allan C. Thygesen sold 40,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $90.04, for a total transaction of $3,601,600.00. Following the completion of the sale, the chief executive officer now owns 156,050 shares in the company, valued at approximately $14,050,742. The trade was a 20.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Daniel D. Springer sold 581,588 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $97.04, for a total transaction of $56,437,299.52. Following the completion of the transaction, the director now owns 906,430 shares in the company, valued at $87,959,967.20. The trade was a 39.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 686,010 shares of company stock worth $66,102,694 in the last quarter. 1.66% of the stock is owned by insiders.

Hedge Funds Weigh In On DocuSign

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Kestra Investment Management LLC acquired a new position in shares of DocuSign during the fourth quarter worth about $30,000. First Horizon Advisors Inc. raised its holdings in shares of DocuSign by 102.6% during the 4th quarter. First Horizon Advisors Inc. now owns 397 shares of the company’s stock valued at $36,000 after buying an additional 201 shares during the period. Modus Advisors LLC acquired a new position in DocuSign during the 4th quarter worth approximately $36,000. McIlrath & Eck LLC boosted its holdings in DocuSign by 476.0% in the 4th quarter. McIlrath & Eck LLC now owns 432 shares of the company’s stock worth $39,000 after acquiring an additional 357 shares during the period. Finally, Itau Unibanco Holding S.A. acquired a new stake in DocuSign in the third quarter valued at approximately $28,000. Institutional investors and hedge funds own 77.64% of the company’s stock.

DocuSign Price Performance

Shares of DocuSign stock opened at $82.36 on Friday. DocuSign has a 1 year low of $48.70 and a 1 year high of $107.86. The business has a 50 day moving average price of $89.64 and a 200 day moving average price of $78.28. The company has a market capitalization of $16.64 billion, a P/E ratio of 16.98, a P/E/G ratio of 6.94 and a beta of 1.02.

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.