DocuSign’s (DOCU) Sector Perform Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reissued their sector perform rating on shares of DocuSign (NASDAQ:DOCU) in a report released on Friday morning, Benzinga reports. They currently have a $59.00 price objective on the stock.

A number of other analysts have also issued reports on the company. UBS Group upgraded DocuSign from a sell rating to a neutral rating and boosted their price target for the company from $48.00 to $62.00 in a report on Friday. JMP Securities restated a market outperform rating and set a $84.00 target price on shares of DocuSign in a report on Friday. Morgan Stanley upgraded DocuSign from an underweight rating to an equal weight rating and upped their target price for the stock from $49.00 to $64.00 in a report on Tuesday, January 16th. Wells Fargo & Company reduced their price target on DocuSign from $55.00 to $45.00 and set an underweight rating on the stock in a research report on Monday, February 5th. Finally, TheStreet raised DocuSign from a d+ rating to a c- rating in a research report on Tuesday, December 19th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, DocuSign currently has an average rating of Hold and an average target price of $60.25.

DocuSign Trading Down 3.8 %

Shares of DOCU stock opened at $56.67 on Friday. The stock’s 50-day moving average price is $55.44 and its 200-day moving average price is $51.84. DocuSign has a 12-month low of $38.11 and a 12-month high of $64.76. The stock has a market capitalization of $11.64 billion, a price-to-earnings ratio of 157.42, a price-to-earnings-growth ratio of 5.15 and a beta of 0.89.

DocuSign (NASDAQ:DOCU) last released its earnings results on Thursday, March 7th. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.06. The firm had revenue of $712.39 million for the quarter, compared to analysts’ expectations of $698.05 million. DocuSign had a return on equity of 13.91% and a net margin of 2.68%. As a group, research analysts predict that DocuSign will post 0.86 EPS for the current fiscal year.

Insider Transactions at DocuSign

In related news, Director Peter Solvik sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $60.00, for a total value of $900,000.00. Following the transaction, the director now directly owns 783 shares of the company’s stock, valued at approximately $46,980. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Allan C. Thygesen sold 7,680 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $61.27, for a total transaction of $470,553.60. Following the transaction, the chief executive officer now directly owns 111,767 shares in the company, valued at approximately $6,847,964.09. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Peter Solvik sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $60.00, for a total value of $900,000.00. Following the transaction, the director now owns 783 shares in the company, valued at $46,980. The disclosure for this sale can be found here. Insiders have sold a total of 54,871 shares of company stock valued at $3,176,199 in the last ninety days. 17.80% of the stock is currently owned by corporate insiders.

Institutional Trading of DocuSign

Institutional investors have recently made changes to their positions in the company. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its position in DocuSign by 440.0% in the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 270 shares of the company’s stock valued at $28,000 after purchasing an additional 220 shares during the period. Capital Analysts LLC increased its position in shares of DocuSign by 781.7% during the fourth quarter. Capital Analysts LLC now owns 529 shares of the company’s stock worth $31,000 after acquiring an additional 469 shares during the period. BluePath Capital Management LLC purchased a new stake in shares of DocuSign during the third quarter worth $32,000. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of DocuSign during the fourth quarter worth $32,000. Finally, Virtus Fund Advisers LLC purchased a new stake in shares of DocuSign during the fourth quarter worth $33,000. Hedge funds and other institutional investors own 77.64% of the company’s stock.

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.