DocuSign (NASDAQ:DOCU) Earns Hold Rating from Needham & Company LLC

DocuSign (NASDAQ:DOCU)‘s stock had its “hold” rating restated by equities researchers at Needham & Company LLC in a note issued to investors on Thursday,Benzinga reports.

Other research analysts have also issued reports about the stock. William Blair raised shares of DocuSign from a “market perform” rating to an “outperform” rating in a research note on Monday, March 17th. Wedbush reiterated a “neutral” rating and set a $100.00 price objective on shares of DocuSign in a research report on Friday, March 14th. Morgan Stanley decreased their price objective on DocuSign from $97.00 to $92.00 and set an “equal weight” rating for the company in a report on Wednesday. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $90.00 target price on shares of DocuSign in a research note on Friday, March 14th. Finally, Bank of America decreased their price target on DocuSign from $112.00 to $98.00 and set a “neutral” rating for the company in a research note on Friday, March 14th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $93.08.

DocuSign Trading Down 1.3 %

Shares of DocuSign stock opened at $75.42 on Thursday. The stock has a market capitalization of $15.27 billion, a price-to-earnings ratio of 15.55, a PEG ratio of 6.94 and a beta of 1.20. DocuSign has a twelve month low of $48.70 and a twelve month high of $107.86. The business’s 50 day simple moving average is $81.35 and its 200-day simple moving average is $83.10.

DocuSign (NASDAQ:DOCU) last issued its earnings results on Thursday, March 13th. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.02. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The firm had revenue of $776.25 million for the quarter, compared to analyst estimates of $760.94 million. During the same period last year, the company earned $0.76 earnings per share. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. Sell-side analysts predict that DocuSign will post 1.17 earnings per share for the current year.

Insider Buying and Selling at DocuSign

In other news, CFO Blake Jeffrey Grayson sold 8,000 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $86.90, for a total transaction of $695,200.00. Following the completion of the sale, the chief financial officer now owns 77,851 shares in the company, valued at approximately $6,765,251.90. This represents a 9.32 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Robert Chatwani sold 15,706 shares of DocuSign stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $83.19, for a total value of $1,306,582.14. Following the completion of the transaction, the insider now owns 76,842 shares in the company, valued at $6,392,485.98. The trade was a 16.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 55,851 shares of company stock valued at $4,607,439. 1.66% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC lifted its position in shares of DocuSign by 178.2% in the 4th quarter. FMR LLC now owns 6,101,024 shares of the company’s stock valued at $548,726,000 after acquiring an additional 3,908,139 shares in the last quarter. American Century Companies Inc. grew its position in DocuSign by 18.5% during the 4th quarter. American Century Companies Inc. now owns 5,315,459 shares of the company’s stock worth $478,072,000 after purchasing an additional 831,611 shares in the last quarter. Jericho Capital Asset Management L.P. boosted its position in shares of DocuSign by 34.0% in the fourth quarter. Jericho Capital Asset Management L.P. now owns 4,754,753 shares of the company’s stock worth $427,642,000 after buying an additional 1,205,500 shares during the period. Renaissance Technologies LLC grew its holdings in shares of DocuSign by 4.9% during the fourth quarter. Renaissance Technologies LLC now owns 4,363,292 shares of the company’s stock valued at $392,434,000 after buying an additional 205,304 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of DocuSign by 7.2% during the fourth quarter. Geode Capital Management LLC now owns 3,732,363 shares of the company’s stock valued at $335,147,000 after buying an additional 249,179 shares in the last quarter. 77.64% of the stock is currently owned by institutional investors and hedge funds.

DocuSign Company Profile

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.