Docusign (NASDAQ:DOCU) Price Target Cut to $70.00 by Analysts at BTIG Research

Docusign (NASDAQ:DOCU) had its target price cut by BTIG Research from $88.00 to $70.00 in a report issued on Wednesday morning, Marketbeat reports. They currently have a buy rating on the stock.

Other analysts have also recently issued research reports about the company. Wedbush lowered their price target on Docusign from $85.00 to $75.00 and set a “neutral” rating on the stock in a report on Friday, December 5th. Bank of America lowered their target price on shares of Docusign from $102.00 to $82.00 and set a “neutral” rating on the stock in a research note on Friday, December 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of Docusign in a research report on Wednesday, January 21st. Piper Sandler cut their price target on shares of Docusign from $90.00 to $75.00 and set a “neutral” rating for the company in a research note on Friday, December 5th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Docusign in a report on Wednesday, December 17th. Six analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company. Based on data from MarketBeat.com, Docusign has an average rating of “Hold” and an average price target of $82.80.

Docusign Stock Performance

Shares of DOCU stock opened at $44.82 on Wednesday. The company has a market capitalization of $8.98 billion, a PE ratio of 31.34, a price-to-earnings-growth ratio of 1.98 and a beta of 1.00. Docusign has a 52-week low of $41.53 and a 52-week high of $94.67. The business’s fifty day moving average is $59.62 and its 200 day moving average is $67.97.

Insider Transactions at Docusign

In related news, CRO Paula Hansen sold 6,000 shares of Docusign stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $67.05, for a total value of $402,300.00. Following the transaction, the executive owned 68,970 shares in the company, valued at $4,624,438.50. This trade represents a 8.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Blake Jeffrey Grayson sold 6,500 shares of the business’s stock in a transaction on Friday, January 9th. The stock was sold at an average price of $70.00, for a total transaction of $455,000.00. Following the completion of the sale, the chief financial officer directly owned 111,713 shares of the company’s stock, valued at $7,819,910. This represents a 5.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 78,292 shares of company stock worth $5,374,260. Corporate insiders own 1.01% of the company’s stock.

Institutional Investors Weigh In On Docusign

Several institutional investors have recently bought and sold shares of DOCU. Vanguard Group Inc. increased its stake in Docusign by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 21,625,551 shares of the company’s stock worth $1,558,986,000 after purchasing an additional 225,525 shares during the period. State Street Corp grew its holdings in shares of Docusign by 0.9% in the fourth quarter. State Street Corp now owns 8,193,805 shares of the company’s stock worth $560,456,000 after purchasing an additional 77,008 shares during the last quarter. Capital World Investors increased its stake in shares of Docusign by 38.1% in the fourth quarter. Capital World Investors now owns 5,815,804 shares of the company’s stock worth $397,801,000 after buying an additional 1,603,900 shares during the period. American Century Companies Inc. increased its stake in shares of Docusign by 1.6% in the second quarter. American Century Companies Inc. now owns 5,564,318 shares of the company’s stock worth $433,405,000 after buying an additional 86,560 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Docusign by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 4,084,463 shares of the company’s stock valued at $278,665,000 after buying an additional 18,873 shares during the last quarter. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

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.