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

Shares of Docusign Inc. (NASDAQ:DOCU) have received an average rating of “Hold” from the twenty-two analysts that are currently covering the firm, MarketBeat reports. Sixteen investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $86.80.

Several equities analysts have commented on the company. Bank of America lowered their price target on Docusign from $102.00 to $82.00 and set a “neutral” rating on the stock in a report on Friday, December 5th. UBS Group dropped their target price on shares of Docusign from $85.00 to $75.00 and set a “neutral” rating on the stock in a report on Friday, December 5th. Wedbush decreased their price target on shares of Docusign from $85.00 to $75.00 and set a “neutral” rating for the company in a report on Friday, December 5th. Piper Sandler lowered their price target on Docusign from $90.00 to $75.00 and set a “neutral” rating on the stock in a research report on Friday, December 5th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Docusign in a research report on Wednesday, October 8th.

Docusign Stock Performance

Shares of DOCU stock opened at $69.46 on Friday. The stock’s 50 day simple moving average is $69.08 and its 200 day simple moving average is $73.52. Docusign has a twelve month low of $63.41 and a twelve month high of $99.30. The company has a market capitalization of $13.91 billion, a price-to-earnings ratio of 48.57, a PEG ratio of 3.50 and a beta of 0.98.

Insider Activity at Docusign

In other news, insider James P. Shaughnessy sold 7,500 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $71.19, for a total value of $533,925.00. Following the completion of the sale, the insider directly owned 55,442 shares of the company’s stock, valued at approximately $3,946,915.98. This represents a 11.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Allan C. Thygesen sold 40,000 shares of the firm’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $69.69, for a total transaction of $2,787,600.00. Following the completion of the sale, the chief executive officer owned 136,246 shares in the company, valued at approximately $9,494,983.74. The trade was a 22.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 87,542 shares of company stock valued at $6,097,905. 1.01% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Banque Transatlantique SA acquired a new position in shares of Docusign during the first quarter valued at $26,000. Rise Advisors LLC lifted its position in Docusign by 864.6% in the 1st quarter. Rise Advisors LLC now owns 463 shares of the company’s stock valued at $38,000 after purchasing an additional 415 shares during the last quarter. WPG Advisers LLC acquired a new position in Docusign during the 1st quarter valued at about $39,000. Twin Peaks Wealth Advisors LLC bought a new position in Docusign in the 2nd quarter worth about $43,000. Finally, First Horizon Advisors Inc. increased its stake in shares of Docusign by 48.6% in the second quarter. First Horizon Advisors Inc. now owns 590 shares of the company’s stock valued at $46,000 after purchasing an additional 193 shares during the period. Institutional investors own 77.64% of the company’s stock.

Docusign Company Profile

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.