Docusign Inc. (NASDAQ:DOCU) Receives Average Recommendation of “Hold” from Brokerages

Shares of Docusign Inc. (NASDAQ:DOCU) have earned an average recommendation of “Hold” from the nineteen brokerages that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have given a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $60.2667.

A number of research analysts recently weighed in on DOCU shares. Weiss Ratings lowered shares of Docusign from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, June 26th. JPMorgan Chase & Co. dropped their target price on Docusign from $78.00 to $65.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 18th. Robert W. Baird cut their price target on Docusign from $75.00 to $55.00 and set a “neutral” rating for the company in a report on Wednesday, March 18th. Citizens Jmp cut their price target on Docusign from $124.00 to $86.00 and set a “market outperform” rating for the company in a report on Wednesday, March 18th. Finally, BTIG Research reduced their price target on Docusign from $70.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, June 5th.

Insider Buying and Selling at Docusign

In other Docusign news, CFO Blake Jeffrey Grayson sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $45.55, for a total value of $683,250.00. Following the sale, the chief financial officer owned 141,429 shares of the company’s stock, valued at $6,442,090.95. This trade represents a 9.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robert Chatwani sold 15,902 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $43.01, for a total transaction of $683,945.02. Following the completion of the sale, the insider directly owned 72,805 shares in the company, valued at $3,131,343.05. This represents a 17.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 76,695 shares of company stock worth $3,476,002 in the last ninety days. Insiders own 0.59% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Smartleaf Asset Management LLC boosted its stake in shares of Docusign by 8.2% in the 2nd quarter. Smartleaf Asset Management LLC now owns 2,169 shares of the company’s stock valued at $166,000 after purchasing an additional 165 shares in the last quarter. Centaurus Financial Inc. raised its position in Docusign by 3.4% in the 3rd quarter. Centaurus Financial Inc. now owns 5,582 shares of the company’s stock worth $402,000 after purchasing an additional 184 shares during the period. Tred Avon Family Wealth LLC raised its position in Docusign by 3.6% in the 1st quarter. Tred Avon Family Wealth LLC now owns 6,176 shares of the company’s stock worth $293,000 after purchasing an additional 215 shares during the period. True Wealth Design LLC lifted its stake in Docusign by 105.2% in the fourth quarter. True Wealth Design LLC now owns 433 shares of the company’s stock worth $30,000 after purchasing an additional 222 shares during the last quarter. Finally, Sanctuary Advisors LLC lifted its stake in Docusign by 2.4% in the fourth quarter. Sanctuary Advisors LLC now owns 9,685 shares of the company’s stock worth $662,000 after purchasing an additional 231 shares during the last quarter. 77.64% of the stock is owned by hedge funds and other institutional investors.

Docusign Stock Up 1.4%

Shares of NASDAQ:DOCU opened at $49.87 on Tuesday. The firm has a market capitalization of $9.52 billion, a PE ratio of 32.38, a P/E/G ratio of 1.45 and a beta of 0.90. Docusign has a twelve month low of $40.16 and a twelve month high of $86.65. The company has a 50-day moving average price of $47.13 and a two-hundred day moving average price of $49.89.

Docusign (NASDAQ:DOCU) last posted its earnings results on Thursday, June 4th. The company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.10. The firm had revenue of $830.24 million during the quarter, compared to the consensus estimate of $824.71 million. Docusign had a net margin of 9.59% and a return on equity of 17.48%. The company’s revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the company earned $0.90 earnings per share. Analysts anticipate that Docusign will post 2.03 earnings per share for the current fiscal year.

Docusign declared that its board has approved a share repurchase plan on Tuesday, March 17th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the company to purchase up to 21% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

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.