Docusign Inc. (NASDAQ:DOCU) Receives Average Recommendation of “Hold” from Brokerages

Docusign Inc. (NASDAQ:DOCU) has been given a consensus rating of “Hold” by the twenty-two research firms that are covering the firm, MarketBeat reports. Sixteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $86.80.

A number of research analysts recently issued reports on the company. UBS Group reduced their price objective on Docusign from $85.00 to $75.00 and set a “neutral” rating for the company in a research report on Friday, December 5th. Cantor Fitzgerald reissued an “outperform” rating on shares of Docusign in a report on Wednesday, December 17th. Bank of America lowered 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. JMP Securities reiterated a “market outperform” rating and issued a $124.00 price objective on shares of Docusign in a research report on Friday, October 3rd. Finally, Argus reissued a “hold” rating on shares of Docusign in a research note on Monday, September 8th.

Insider Buying and Selling at Docusign

In related news, CFO Blake Jeffrey Grayson sold 9,515 shares of the stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $68.33, for a total value of $650,159.95. Following the completion of the transaction, the chief financial officer directly owned 118,213 shares of the company’s stock, valued at $8,077,494.29. This represents a 7.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CRO Paula Hansen sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 7th. The shares were sold at an average price of $71.33, for a total value of $427,980.00. Following the completion of the sale, the executive owned 58,968 shares in the company, valued at approximately $4,206,187.44. This represents a 9.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 33,542 shares of company stock valued at $2,313,580. 1.66% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Docusign

Several institutional investors have recently bought and sold shares of DOCU. IFP Advisors Inc increased its stake in Docusign by 31.9% during the 3rd quarter. IFP Advisors Inc now owns 1,955 shares of the company’s stock valued at $145,000 after buying an additional 473 shares during the period. Strategic Advocates LLC bought a new position in shares of Docusign in the third quarter valued at approximately $50,000. CIBC Bancorp USA Inc. acquired a new position in shares of Docusign during the third quarter valued at approximately $522,000. Centaurus Financial Inc. raised its holdings in Docusign by 3.4% during the third quarter. Centaurus Financial Inc. now owns 5,582 shares of the company’s stock worth $402,000 after purchasing an additional 184 shares in the last quarter. Finally, Coldstream Capital Management Inc. lifted its position in Docusign by 21.1% in the third quarter. Coldstream Capital Management Inc. now owns 4,147 shares of the company’s stock worth $299,000 after purchasing an additional 723 shares during the period. Institutional investors and hedge funds own 77.64% of the company’s stock.

Docusign Stock Down 0.6%

DOCU opened at $69.08 on Friday. The company’s 50-day moving average price is $69.03 and its 200 day moving average price is $73.34. Docusign has a fifty-two week low of $63.41 and a fifty-two week high of $99.30. The firm has a market cap of $13.83 billion, a price-to-earnings ratio of 48.31, a price-to-earnings-growth ratio of 3.42 and a beta of 0.98.

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.