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

Docusign Inc. (NASDAQ:DOCU) has been given a consensus recommendation of “Hold” by the twenty-one analysts that are currently covering the firm, Marketbeat Ratings reports. Fifteen analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $84.00.

A number of research analysts have issued reports on DOCU shares. Evercore decreased their target price on Docusign from $92.00 to $80.00 and set an “in-line” rating for the company in a research note on Friday, December 5th. Robert W. Baird decreased 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. Wells Fargo & Company lowered their target price on Docusign from $85.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Friday, December 5th. Royal Bank Of Canada reduced their price target on Docusign from $95.00 to $70.00 and set a “sector perform” rating for the company in a research report on Monday, January 5th. Finally, Zacks Research downgraded Docusign from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 24th.

Insiders Place Their Bets

In other news, insider Robert Chatwani sold 13,818 shares of Docusign stock in a transaction dated 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 transaction, the insider owned 70,197 shares of the company’s stock, valued at $4,796,561.01. This trade represents a 16.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Allan C. Thygesen sold 26,250 shares of the business’s stock in a transaction dated Friday, January 9th. The stock was sold at an average price of $69.60, for a total transaction of $1,827,000.00. Following the transaction, the chief executive officer owned 142,261 shares in the company, valued at $9,901,365.60. This represents a 15.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 78,292 shares of company stock valued at $5,374,260 in the last ninety days. 1.01% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Docusign

Several institutional investors and hedge funds have recently modified their holdings of the stock. Centaurus Financial Inc. lifted its stake in shares of Docusign by 2.6% during the 2nd quarter. Centaurus Financial Inc. now owns 5,398 shares of the company’s stock worth $420,000 after buying an additional 136 shares during the last quarter. Mitchell & Pahl Private Wealth LLC raised its holdings in Docusign by 0.7% in the 3rd quarter. Mitchell & Pahl Private Wealth LLC now owns 21,422 shares of the company’s stock valued at $1,544,000 after acquiring an additional 149 shares during the period. Moors & Cabot Inc. raised its holdings in Docusign by 5.7% in the 2nd quarter. Moors & Cabot Inc. now owns 2,780 shares of the company’s stock valued at $217,000 after acquiring an additional 150 shares during the period. Savvy Advisors Inc. lifted its position in Docusign by 5.4% during the second quarter. Savvy Advisors Inc. now owns 3,090 shares of the company’s stock worth $241,000 after acquiring an additional 157 shares during the last quarter. Finally, iA Global Asset Management Inc. boosted its holdings in shares of Docusign by 2.1% during the second quarter. iA Global Asset Management Inc. now owns 7,872 shares of the company’s stock worth $613,000 after acquiring an additional 160 shares during the period. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Docusign Stock Up 2.5%

Shares of DOCU stock opened at $44.82 on Friday. Docusign has a 12-month low of $41.53 and a 12-month high of $94.67. The firm has a fifty day moving average of $61.01 and a 200-day moving average of $68.69. The firm has a market capitalization of $8.98 billion, a price-to-earnings ratio of 31.34, a price-to-earnings-growth ratio of 1.91 and a beta of 1.00.

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.