Docusign (NASDAQ:DOCU) Shares Gap Down – Should You Sell?

Docusign Inc. (NASDAQ:DOCU) shares gapped down prior to trading on Tuesday . The stock had previously closed at $52.00, but opened at $49.27. Docusign shares last traded at $48.3420, with a volume of 1,270,293 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Cantor Fitzgerald reaffirmed an “outperform” rating on shares of Docusign in a research note on Wednesday, December 17th. Bank of America cut their price target on shares of Docusign from $102.00 to $82.00 and set a “neutral” rating for the company in a research report on Friday, December 5th. Wedbush decreased their price objective on Docusign from $85.00 to $75.00 and set a “neutral” rating on the stock in a report on Friday, December 5th. JPMorgan Chase & Co. lowered their target price on Docusign from $80.00 to $78.00 and set a “neutral” rating for the company in a research note on Friday, December 5th. Finally, UBS Group dropped their target price on Docusign from $85.00 to $75.00 and set a “neutral” rating for the company in a report on Friday, December 5th. Six research analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company. According to MarketBeat.com, Docusign has an average rating of “Hold” and a consensus target price of $85.13.

Docusign Price Performance

The stock has a market capitalization of $9.12 billion, a PE ratio of 31.85, a PEG ratio of 2.01 and a beta of 1.00. The company has a 50 day moving average price of $64.25 and a 200-day moving average price of $70.31.

Insider Activity

In other Docusign news, CFO Blake Jeffrey Grayson sold 6,500 shares of Docusign stock in a transaction that occurred on Friday, January 9th. The stock was sold at an average price of $70.00, for a total transaction of $455,000.00. Following the sale, the chief financial officer directly owned 111,713 shares of the company’s stock, valued at approximately $7,819,910. The trade was a 5.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider James P. Shaughnessy sold 12,000 shares of the company’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $67.03, for a total value of $804,360.00. Following the transaction, the insider owned 54,550 shares in the company, valued at $3,656,486.50. This trade represents a 18.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 78,292 shares of company stock worth $5,374,260. 1.01% of the stock is owned by company insiders.

Institutional Investors Weigh In On Docusign

A number of hedge funds and other institutional investors have recently bought and sold shares of DOCU. Central Pacific Bank Trust Division purchased a new position in shares of Docusign during the fourth quarter valued at approximately $25,000. Torren Management LLC purchased a new position in Docusign during the fourth quarter valued at $28,000. Aventura Private Wealth LLC purchased a new position in Docusign during the fourth quarter valued at $30,000. True Wealth Design LLC boosted its holdings in Docusign by 105.2% in the fourth quarter. True Wealth Design LLC now owns 433 shares of the company’s stock worth $30,000 after acquiring an additional 222 shares in the last quarter. Finally, Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Docusign in the second quarter worth $43,000. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Docusign Company Profile

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.