Docusign Inc. (NASDAQ:DOCU) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Docusign Inc. (NASDAQ:DOCU) have earned a consensus recommendation of “Hold” from the twenty-one brokerages that are covering the company, MarketBeat Ratings reports. Fifteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $84.00.

A number of research firms have recently weighed in on DOCU. Wells Fargo & Company dropped their target price on Docusign from $85.00 to $75.00 and set an “equal weight” rating for the company in a report on Friday, December 5th. JPMorgan Chase & Co. lowered their price target on shares of Docusign from $80.00 to $78.00 and set a “neutral” rating on the stock in a research report on Friday, December 5th. HSBC set a $53.00 price objective on shares of Docusign in a research note on Friday. Zacks Research lowered shares of Docusign from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 24th. Finally, BTIG Research started coverage on shares of Docusign in a report on Tuesday, December 16th. They set a “buy” rating and a $88.00 target price on the stock.

Insider Activity

In other Docusign news, insider James P. Shaughnessy sold 12,000 shares of the firm’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $67.03, for a total transaction of $804,360.00. Following the transaction, the insider owned 54,550 shares in the company, valued at $3,656,486.50. This trade represents a 18.03% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Blake Jeffrey Grayson sold 9,515 shares of the company’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 $650,159.95. Following the sale, the chief financial officer owned 118,213 shares of the company’s stock, valued at approximately $8,077,494.29. The trade was a 7.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 78,292 shares of company stock worth $5,374,260. 1.01% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Docusign

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

Docusign Price Performance

DOCU opened at $44.82 on Friday. The business has a fifty day simple moving average of $61.01 and a 200 day simple moving average of $68.69. The company has a market capitalization of $8.98 billion, a PE ratio of 31.34, a price-to-earnings-growth ratio of 1.91 and a beta of 1.00. Docusign has a 1 year low of $41.53 and a 1 year high of $94.67.

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.