Docusign (NASDAQ:DOCU) Sets New 1-Year Low – What’s Next?

Docusign Inc. (NASDAQ:DOCU) reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $44.71 and last traded at $44.3490, with a volume of 1901131 shares trading hands. The stock had previously closed at $47.62.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. BTIG Research initiated coverage on Docusign in a research note on Tuesday, December 16th. They set a “buy” rating and a $88.00 price target on the stock. Needham & Company LLC restated a “hold” rating on shares of Docusign in a research report on Wednesday, December 17th. Evercore reduced their target price on shares of Docusign from $92.00 to $80.00 and set an “in-line” rating for the company in a report on Friday, December 5th. Piper Sandler decreased their target price on shares of Docusign from $90.00 to $75.00 and set a “neutral” rating for the company in a research note on Friday, December 5th. Finally, Robert W. Baird reduced their price objective on Docusign from $90.00 to $75.00 and set a “neutral” rating for the company in a research note on Friday, December 5th. Six analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $85.13.

Docusign Trading Down 6.9%

The firm’s 50 day moving average is $62.50 and its two-hundred day moving average is $69.29. The stock has a market cap of $8.88 billion, a price-to-earnings ratio of 31.01, a P/E/G ratio of 2.08 and a beta of 1.00.

Insider Buying and Selling

In other news, insider James P. Shaughnessy sold 12,000 shares of the business’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $67.03, for a total transaction of $804,360.00. Following the completion of the sale, the insider directly owned 54,550 shares of the company’s stock, valued at $3,656,486.50. The trade was a 18.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CRO Paula Hansen sold 6,000 shares of the firm’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $67.05, for a total value of $402,300.00. Following the completion of the transaction, the executive owned 68,970 shares in the company, valued at approximately $4,624,438.50. This trade represents a 8.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 78,292 shares of company stock worth $5,374,260 over the last 90 days. Company insiders own 1.66% of the company’s stock.

Hedge Funds Weigh In On Docusign

A number of institutional investors have recently made changes to their positions in DOCU. Vanguard Group Inc. boosted its stake in Docusign by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 21,625,551 shares of the company’s stock valued at $1,558,986,000 after acquiring an additional 225,525 shares during the last quarter. State Street Corp boosted its position in Docusign by 0.5% during the 3rd quarter. State Street Corp now owns 8,116,797 shares of the company’s stock valued at $585,140,000 after purchasing an additional 41,821 shares during the period. Capital World Investors grew its position in shares of Docusign by 38.1% during the fourth quarter. Capital World Investors now owns 5,815,804 shares of the company’s stock worth $397,801,000 after acquiring an additional 1,603,900 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Docusign by 1.6% in the second quarter. American Century Companies Inc. now owns 5,564,318 shares of the company’s stock valued at $433,405,000 after purchasing an additional 86,560 shares during the period. Finally, Geode Capital Management LLC increased its position in Docusign by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 4,084,463 shares of the company’s stock valued at $278,665,000 after acquiring an additional 18,873 shares during the period. 77.64% of the stock is owned by institutional investors and hedge funds.

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.