DocuSign, Inc. (NASDAQ:DOCU) Given Average Rating of “Hold” by Brokerages

DocuSign, Inc. (NASDAQ:DOCU) has been given a consensus rating of “Hold” by the eleven ratings firms that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $60.25.

Several brokerages have recently commented on DOCU. Morgan Stanley raised DocuSign from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $49.00 to $64.00 in a research note on Tuesday, January 16th. UBS Group raised DocuSign from a “sell” rating to a “neutral” rating and increased their price target for the company from $48.00 to $62.00 in a research report on Friday, April 12th. Wells Fargo & Company dropped their price objective on DocuSign from $55.00 to $45.00 and set an “underweight” rating on the stock in a research note on Monday, February 5th. Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a research note on Friday, April 12th. Finally, JMP Securities reissued a “market outperform” rating and set a $84.00 price target on shares of DocuSign in a research report on Friday, April 12th.

Insider Transactions at DocuSign

In other news, CEO Allan C. Thygesen sold 8,086 shares of DocuSign stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $56.16, for a total value of $454,109.76. Following the sale, the chief executive officer now directly owns 99,546 shares in the company, valued at approximately $5,590,503.36. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Allan C. Thygesen sold 8,086 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $56.16, for a total transaction of $454,109.76. Following the completion of the transaction, the chief executive officer now owns 99,546 shares in the company, valued at $5,590,503.36. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Stephen Shute sold 15,109 shares of DocuSign stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $57.02, for a total transaction of $861,515.18. Following the completion of the sale, the insider now owns 8,959 shares in the company, valued at approximately $510,842.18. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 55,277 shares of company stock worth $3,159,756. Company insiders own 17.80% of the company’s stock.

Institutional Trading of DocuSign

Institutional investors and hedge funds have recently bought and sold shares of the stock. New York State Teachers Retirement System boosted its holdings in shares of DocuSign by 0.9% during the 4th quarter. New York State Teachers Retirement System now owns 18,282 shares of the company’s stock valued at $1,087,000 after buying an additional 163 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its position in DocuSign by 2.7% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,975 shares of the company’s stock valued at $415,000 after acquiring an additional 184 shares during the period. Whittier Trust Co. boosted its stake in DocuSign by 28.8% during the fourth quarter. Whittier Trust Co. now owns 935 shares of the company’s stock worth $56,000 after acquiring an additional 209 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in DocuSign by 0.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 83,899 shares of the company’s stock worth $4,617,000 after purchasing an additional 239 shares during the period. Finally, SeaCrest Wealth Management LLC increased its stake in shares of DocuSign by 2.2% during the first quarter. SeaCrest Wealth Management LLC now owns 11,327 shares of the company’s stock valued at $675,000 after purchasing an additional 240 shares in the last quarter. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

DocuSign Trading Up 1.8 %

DOCU opened at $59.80 on Friday. DocuSign has a 1-year low of $38.11 and a 1-year high of $64.76. The company has a market cap of $12.28 billion, a price-to-earnings ratio of 166.12, a PEG ratio of 5.08 and a beta of 0.88. The company’s fifty day moving average price is $57.24 and its two-hundred day moving average price is $53.30.

DocuSign (NASDAQ:DOCU) last posted its earnings results on Thursday, March 7th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.09 by $0.06. DocuSign had a net margin of 2.68% and a return on equity of 13.91%. The company had revenue of $712.39 million during the quarter, compared to the consensus estimate of $698.05 million. As a group, equities analysts forecast that DocuSign will post 0.87 earnings per share for the current fiscal year.

About DocuSign

DocuSign, Inc provides electronic signature solution in the United States and internationally. The company provides e-signature solution that enables sending and signing of agreements on various devices; Contract Lifecycle Management (CLM), which automates workflows across the entire agreement process; Document Generation streamlines the process of generating new, custom agreements; and Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce.