Docusign’s (DOCU) “Sector Perform” Rating Reiterated at Royal Bank Of Canada

Royal Bank Of Canada reiterated their sector perform rating on shares of Docusign (NASDAQ:DOCU) in a research note published on Friday morning, MarketBeat.com reports. Royal Bank Of Canada currently has a $95.00 target price on the stock.

DOCU has been the subject of a number of other research reports. JMP Securities reissued a “market outperform” rating and set a $124.00 price objective on shares of Docusign in a research note on Friday, October 3rd. Evercore ISI upped their price target on shares of Docusign from $90.00 to $92.00 and gave the company an “in-line” rating in a report on Friday, September 5th. Weiss Ratings reissued a “hold (c)” rating on shares of Docusign in a report on Wednesday, October 8th. Wells Fargo & Company decreased their price objective on shares of Docusign from $85.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Friday. Finally, Wall Street Zen raised shares of Docusign from a “hold” rating to a “buy” rating in a research note on Saturday, September 13th. Four research analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the stock. According to MarketBeat, Docusign presently has an average rating of “Hold” and a consensus price target of $86.71.

Docusign Trading Down 7.6%

NASDAQ DOCU opened at $65.67 on Friday. The firm has a market cap of $13.21 billion, a PE ratio of 45.92, a price-to-earnings-growth ratio of 3.26 and a beta of 0.98. Docusign has a 1-year low of $63.41 and a 1-year high of $107.86. The stock has a 50-day moving average of $69.48 and a 200-day moving average of $75.10.

Docusign (NASDAQ:DOCU) last posted its quarterly earnings results on Thursday, September 4th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.08. The business had revenue of $800.64 million for the quarter, compared to analyst estimates of $780.35 million. Docusign had a return on equity of 15.02% and a net margin of 9.57%.Docusign’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period last year, the company earned $0.97 EPS. As a group, equities research analysts forecast that Docusign will post 1.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Docusign news, insider James P. Shaughnessy sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The shares were 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 in the company, valued at $3,946,915.98. This trade represents a 11.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Allan C. Thygesen sold 40,000 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $69.69, for a total value of $2,787,600.00. Following the completion of the transaction, the chief executive officer directly owned 136,246 shares of the company’s stock, valued at $9,494,983.74. This represents a 22.70% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 104,076 shares of company stock valued at $7,814,461 over the last quarter. 1.66% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Docusign

Institutional investors have recently made changes to their positions in the company. Norges Bank purchased a new stake in Docusign during the 2nd quarter valued at $140,987,000. Wellington Management Group LLP lifted its holdings in shares of Docusign by 372.5% during the first quarter. Wellington Management Group LLP now owns 1,826,949 shares of the company’s stock valued at $148,714,000 after purchasing an additional 1,440,269 shares in the last quarter. Duquesne Family Office LLC purchased a new stake in shares of Docusign during the first quarter valued at $87,477,000. Woodline Partners LP boosted its position in shares of Docusign by 24,412.7% during the third quarter. Woodline Partners LP now owns 958,938 shares of the company’s stock valued at $69,130,000 after buying an additional 955,026 shares during the last quarter. Finally, Third Point LLC bought a new stake in Docusign in the 2nd quarter worth about $48,681,000. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Docusign Company Profile

DocuSign, Inc provides electronic signature solution in the United States and internationally. The company provides e-signature solution that enables sending and signing of agreements on various devices; Contract Lifecycle Management (CLM), which automates workflows across the entire agreement process; Document Generation streamlines the process of generating new, custom agreements; and Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce.