Docusign (NASDAQ:DOCU) Sets New 12-Month Low – Should You Sell?

Docusign Inc. (NASDAQ:DOCU) shares reached a new 52-week low on Monday . The company traded as low as $51.63 and last traded at $52.91, with a volume of 1100297 shares changing hands. The stock had previously closed at $52.54.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Wedbush dropped their target price on Docusign from $85.00 to $75.00 and set a “neutral” rating on the stock in a research report on Friday, December 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of Docusign in a report on Wednesday, January 21st. Wells Fargo & Company cut their price objective on Docusign from $85.00 to $75.00 and set an “equal weight” rating for the company in a research note on Friday, December 5th. Cantor Fitzgerald restated an “outperform” rating on shares of Docusign in a research report on Wednesday, December 17th. Finally, UBS Group lowered their price target on Docusign from $85.00 to $75.00 and set a “neutral” rating on the stock in a research note on Friday, December 5th. Six analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $85.13.

Docusign Trading Up 1.5%

The firm’s fifty day moving average price is $64.25 and its 200 day moving average price is $70.31. The stock has a market capitalization of $9.36 billion, a price-to-earnings ratio of 32.69, a price-to-earnings-growth ratio of 2.27 and a beta of 1.00.

Insiders Place Their Bets

In other news, insider Robert Chatwani sold 13,818 shares of the business’s stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $68.33, for a total transaction of $944,183.94. Following the completion of the transaction, the insider directly owned 70,197 shares of the company’s stock, valued at approximately $4,796,561.01. The trade was a 16.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider James P. Shaughnessy sold 12,000 shares of the firm’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $67.03, for a total value of $804,360.00. Following the completion of the sale, the insider owned 54,550 shares in the company, valued at approximately $3,656,486.50. This represents a 18.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 78,292 shares of company stock valued at $5,374,260. 1.66% of the stock is owned by company insiders.

Hedge Funds Weigh In On Docusign

Several hedge funds have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC grew its holdings in shares of Docusign by 36.4% in the 1st quarter. NewEdge Advisors LLC now owns 9,202 shares of the company’s stock worth $749,000 after acquiring an additional 2,457 shares during the period. Truist Financial Corp raised its stake in Docusign by 4.4% during the second quarter. Truist Financial Corp now owns 6,655 shares of the company’s stock worth $518,000 after purchasing an additional 279 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Docusign by 238.1% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,663 shares of the company’s stock valued at $363,000 after acquiring an additional 3,284 shares during the last quarter. DAVENPORT & Co LLC raised its holdings in Docusign by 1.8% in the second quarter. DAVENPORT & Co LLC now owns 13,075 shares of the company’s stock valued at $1,018,000 after buying an additional 234 shares during the period. Finally, KLP Kapitalforvaltning AS increased its holdings in Docusign by 0.5% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 270,200 shares of the company’s stock valued at $21,046,000 after purchasing an additional 1,300 shares in the last quarter. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

About Docusign

DocuSign, Inc (NASDAQ: DOCU) is a leading provider of electronic signature and digital transaction management solutions. The company’s flagship offering, DocuSign eSignature, enables organizations to send, sign and manage legally binding electronic agreements securely in the cloud. Beyond eSignature, DocuSign’s Agreement Cloud combines contract lifecycle management, document generation, and workflow automation to streamline agreement processes from initiation through execution and storage.

DocuSign’s platform serves a diverse customer base spanning industries such as finance, real estate, healthcare, technology, and government.