DocuSign (NASDAQ:DOCU) Given New $55.00 Price Target at Robert W. Baird

DocuSign (NASDAQ:DOCUFree Report) had its target price cut by Robert W. Baird from $65.00 to $55.00 in a research note published on Friday morning, Benzinga reports. They currently have a neutral rating on the stock.

DOCU has been the topic of several other research reports. Needham & Company LLC restated a hold rating on shares of DocuSign in a report on Friday, April 12th. Citigroup cut their price target on DocuSign from $93.00 to $86.00 and set a buy rating on the stock in a report on Wednesday. JMP Securities restated a market outperform rating and set a $84.00 price target on shares of DocuSign in a report on Friday, April 12th. Bank of America cut their price target on DocuSign from $72.00 to $60.00 and set a neutral rating on the stock in a report on Friday. Finally, Royal Bank of Canada restated a sector perform rating and set a $59.00 price target on shares of DocuSign in a report on Friday, April 12th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $60.00.

Get Our Latest Stock Analysis on DOCU

DocuSign Trading Down 4.7 %

DOCU stock opened at $52.05 on Friday. The company has a market capitalization of $10.69 billion, a PE ratio of 144.59, a P/E/G ratio of 4.63 and a beta of 0.89. DocuSign has a 12-month low of $38.11 and a 12-month high of $64.76. The business’s fifty day moving average price is $57.71 and its 200 day moving average price is $56.09.

DocuSign (NASDAQ:DOCUGet Free Report) last posted its quarterly earnings data on Thursday, March 7th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.06. The firm had revenue of $712.39 million for the quarter, compared to the consensus estimate of $698.05 million. DocuSign had a return on equity of 13.91% and a net margin of 2.68%. Research analysts predict that DocuSign will post 0.87 EPS for the current fiscal year.

Insider Activity

In related news, insider Stephen Shute sold 15,109 shares of the company’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $57.02, for a total value of $861,515.18. Following the completion of the sale, the insider now directly owns 8,959 shares of the company’s stock, valued at approximately $510,842.18. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Teresa Briggs sold 499 shares of the company’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $54.92, for a total value of $27,405.08. Following the completion of the sale, the director now directly owns 6,668 shares of the company’s stock, valued at approximately $366,206.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Stephen Shute sold 15,109 shares of the company’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $57.02, for a total value of $861,515.18. Following the completion of the sale, the insider now directly owns 8,959 shares of the company’s stock, valued at $510,842.18. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 47,512 shares of company stock worth $2,746,767. 1.66% of the stock is currently owned by insiders.

Institutional Trading of DocuSign

Hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC lifted its position in DocuSign by 93.1% during the 4th quarter. SG Americas Securities LLC now owns 78,423 shares of the company’s stock worth $4,662,000 after acquiring an additional 37,801 shares during the period. Charles Schwab Investment Management Inc. lifted its position in DocuSign by 77.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,215,650 shares of the company’s stock worth $51,057,000 after acquiring an additional 531,682 shares during the period. AQR Capital Management LLC lifted its position in DocuSign by 147.4% during the 3rd quarter. AQR Capital Management LLC now owns 1,908,500 shares of the company’s stock worth $80,157,000 after acquiring an additional 1,136,948 shares during the period. Metis Global Partners LLC acquired a new stake in DocuSign during the 4th quarter worth approximately $208,000. Finally, Syon Capital LLC lifted its position in DocuSign by 450.2% during the 4th quarter. Syon Capital LLC now owns 550,221 shares of the company’s stock worth $32,711,000 after acquiring an additional 450,221 shares during the period. 77.64% of the stock is owned by institutional investors and hedge funds.

DocuSign Company Profile

(Get Free Report)

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.

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