Docusign (NASDAQ:DOCU) Shares Down 4.9% – What’s Next?

Docusign Inc. (NASDAQ:DOCU) was down 4.9% during trading on Friday . The stock traded as low as $65.43 and last traded at $65.0550. Approximately 362,689 shares were traded during trading, a decline of 89% from the average daily volume of 3,276,484 shares. The stock had previously closed at $68.40.

Wall Street Analyst Weigh In

DOCU has been the subject of a number of analyst reports. Zacks Research lowered shares of Docusign from a “strong-buy” rating to a “hold” rating in a report on Monday, November 24th. Wall Street Zen raised shares of Docusign from a “hold” rating to a “buy” rating in a research note on Saturday, September 13th. Evercore ISI cut their price target on shares of Docusign from $92.00 to $80.00 and set an “in-line” rating for the company in a report on Friday, December 5th. BTIG Research assumed coverage on shares of Docusign in a research report on Tuesday, December 16th. They set a “buy” rating and a $88.00 price target on the stock. Finally, JPMorgan Chase & Co. lowered their price objective on Docusign from $80.00 to $78.00 and set a “neutral” rating for the company in a research report on Friday, December 5th. Six investment analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company’s stock. According to MarketBeat, Docusign currently has a consensus rating of “Hold” and an average price target of $86.80.

Docusign Trading Down 5.2%

The stock has a market capitalization of $12.99 billion, a price-to-earnings ratio of 45.35, a price-to-earnings-growth ratio of 3.20 and a beta of 0.99. The firm’s fifty day moving average price is $68.80 and its 200 day moving average price is $73.18.

Insider Buying and Selling at Docusign

In other news, Director James A. Beer sold 450 shares of Docusign stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $68.54, for a total value of $30,843.00. Following the completion of the sale, the director directly owned 14,478 shares of the company’s stock, valued at approximately $992,322.12. The trade was a 3.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Robert Chatwani sold 13,818 shares of the business’s stock in a transaction on Wednesday, December 17th. The shares were 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 in the company, valued at $4,796,561.01. This represents a 16.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 33,542 shares of company stock valued at $2,313,580. Corporate insiders own 1.01% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in DOCU. Palogic Value Management L.P. lifted its holdings 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 buying an additional 117 shares in the last quarter. Centaurus Financial Inc. increased 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 acquiring an additional 136 shares during the period. MassMutual Private Wealth & Trust FSB increased its position in shares of Docusign by 31.3% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 595 shares of the company’s stock worth $46,000 after acquiring an additional 142 shares during the period. Total Wealth Planning & Management Inc. raised its stake in shares of Docusign by 4.8% in the second quarter. Total Wealth Planning & Management Inc. now owns 3,170 shares of the company’s stock valued at $247,000 after acquiring an additional 146 shares in the last quarter. Finally, Mitchell & Pahl Private Wealth LLC boosted its holdings in Docusign by 0.7% in the third quarter. Mitchell & Pahl Private Wealth LLC now owns 21,422 shares of the company’s stock valued at $1,544,000 after purchasing an additional 149 shares during the period. Hedge funds and other 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.