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

Docusign Inc. (NASDAQ:DOCU) has received an average recommendation of “Hold” from the eighteen research firms that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have given a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $67.3333.

A number of equities analysts have weighed in on DOCU shares. BTIG Research raised their target price on shares of Docusign from $60.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, September 2nd. Weiss Ratings raised Docusign from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 25th. Wells Fargo & Company upped their price target on Docusign from $55.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Friday. UBS Group raised their price objective on Docusign from $54.00 to $70.00 and gave the company a “neutral” rating in a research report on Friday, September 4th. Finally, Royal Bank Of Canada lifted their price objective on Docusign from $55.00 to $70.00 and gave the company a “sector perform” rating in a research note on Friday.

Insider Buying and Selling at Docusign

In other news, Director James A. Beer sold 450 shares of the company’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of $64.02, for a total transaction of $28,809.00. Following the transaction, the director directly owned 14,586 shares of the company’s stock, valued at $933,795.72. This represents a 2.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Allan C. Thygesen sold 26,250 shares of Docusign stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $46.02, for a total value of $1,208,025.00. Following the completion of the sale, the chief executive officer owned 159,038 shares of the company’s stock, valued at $7,318,928.76. The trade was a 14.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 135,602 shares of company stock worth $7,407,299. Insiders own 0.59% of the company’s stock.

Institutional Trading of Docusign

Institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE increased its stake in Docusign by 23.3% in the 1st quarter. Bank of America Corp DE now owns 1,193,163 shares of the company’s stock worth $56,568,000 after buying an additional 225,801 shares in the last quarter. Capital World Investors increased its stake in Docusign by 38.1% in the 4th 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. Assenagon Asset Management S.A. increased its position in Docusign by 247.5% in the second quarter. Assenagon Asset Management S.A. now owns 349,038 shares of the company’s stock worth $15,504,000 after purchasing an additional 248,597 shares during the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new stake in Docusign in the fourth quarter worth about $6,897,000. Finally, Los Angeles Capital Management LLC bought a new position in shares of Docusign during the fourth quarter valued at approximately $1,750,000. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Docusign Trading Down 4.9%

Shares of DOCU stock opened at $65.08 on Wednesday. The company’s fifty day moving average price is $56.58 and its 200-day moving average price is $50.21. The stock has a market cap of $12.43 billion, a PE ratio of 39.68, a price-to-earnings-growth ratio of 2.43 and a beta of 0.90. Docusign has a 12 month low of $40.16 and a 12 month high of $86.65.

Docusign (NASDAQ:DOCU) last issued its quarterly earnings results on Thursday, September 3rd. The company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.07. Docusign had a net margin of 9.82% and a return on equity of 18.29%. The company had revenue of $875.75 million during the quarter, compared to analyst estimates of $867.22 million. During the same period last year, the business earned $0.30 EPS. Docusign’s quarterly revenue was up 9.4% compared to the same quarter last year. On average, sell-side analysts forecast that Docusign will post 2.03 earnings per share for the current fiscal year.

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.