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

Shares of Docusign Inc. (NASDAQ:DOCU) have earned an average rating of “Hold” from the twenty-two research firms that are covering the stock, MarketBeat.com reports. Sixteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $86.80.

DOCU has been the subject of several research reports. Bank of America cut their price objective on Docusign from $102.00 to $82.00 and set a “neutral” rating for the company in a research note on Friday, December 5th. JPMorgan Chase & Co. dropped their price target on Docusign from $80.00 to $78.00 and set a “neutral” rating for the company in a research report on Friday, December 5th. Wells Fargo & Company decreased their price objective on Docusign from $85.00 to $75.00 and set an “equal weight” rating on the stock in a report on Friday, December 5th. Argus reaffirmed a “hold” rating on shares of Docusign in a report on Monday, September 8th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $124.00 target price on shares of Docusign in a research report on Friday, October 3rd.

Docusign Stock Up 0.7%

DOCU stock opened at $69.46 on Friday. Docusign has a 52 week low of $63.41 and a 52 week high of $99.30. The firm has a 50-day simple moving average of $69.08 and a 200-day simple moving average of $73.52. The stock has a market capitalization of $13.91 billion, a P/E ratio of 48.57, a P/E/G ratio of 3.50 and a beta of 0.98.

Insiders Place Their Bets

In related news, insider Robert Chatwani sold 13,818 shares of the stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $68.33, for a total value of $944,183.94. Following the completion of the sale, the insider owned 70,197 shares of the company’s stock, valued at approximately $4,796,561.01. This trade represents a 16.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO Paula Hansen sold 6,000 shares of the business’s stock in a transaction on Tuesday, October 7th. The stock was sold at an average price of $71.33, for a total value of $427,980.00. Following the transaction, the executive directly owned 58,968 shares in the company, valued at $4,206,187.44. This trade represents a 9.24% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 87,542 shares of company stock worth $6,097,905. 1.01% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Palogic Value Management L.P. lifted its stake in Docusign by 2.2% during the 1st quarter. Palogic Value Management L.P. now owns 5,438 shares of the company’s stock worth $443,000 after acquiring an additional 117 shares in the last quarter. Centaurus Financial Inc. lifted its position in shares of Docusign by 2.6% during the second quarter. Centaurus Financial Inc. now owns 5,398 shares of the company’s stock worth $420,000 after purchasing an additional 136 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Docusign by 31.3% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 595 shares of the company’s stock valued at $46,000 after purchasing an additional 142 shares in the last quarter. Total Wealth Planning & Management Inc. increased its stake in Docusign by 4.8% during the 2nd quarter. Total Wealth Planning & Management Inc. now owns 3,170 shares of the company’s stock worth $247,000 after buying an additional 146 shares during the period. Finally, Mitchell & Pahl Private Wealth LLC increased its stake in Docusign by 0.7% during the 3rd quarter. Mitchell & Pahl Private Wealth LLC now owns 21,422 shares of the company’s stock worth $1,544,000 after buying an additional 149 shares during the period. 77.64% of the stock is currently owned by institutional investors and hedge funds.

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.