Docusign (NASDAQ:DOCU) Coverage Initiated by Analysts at BTIG Research

Equities research analysts at BTIG Research initiated coverage on shares of Docusign (NASDAQ:DOCU) in a note issued to investors on Tuesday, Marketbeat Ratings reports. The brokerage set a “buy” rating on the stock.

Other equities analysts have also issued research reports about the company. Piper Sandler decreased their price target on Docusign from $90.00 to $75.00 and set a “neutral” rating on the stock in a research note 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 for the company in a research note on Friday, December 5th. Robert W. Baird dropped their price target on shares of Docusign from $90.00 to $75.00 and set a “neutral” rating for the company in a research report on Friday, December 5th. Wells Fargo & Company reduced their price target on shares of Docusign from $85.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Friday, December 5th. Finally, JMP Securities restated a “market outperform” rating and issued a $124.00 price objective on shares of Docusign in a report on Friday, October 3rd. Six investment analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company. According to MarketBeat.com, Docusign presently has a consensus rating of “Hold” and an average target price of $86.80.

Docusign Price Performance

NASDAQ:DOCU opened at $67.79 on Tuesday. The company’s 50-day moving average is $68.97 and its two-hundred day moving average is $74.21. The firm has a market capitalization of $13.58 billion, a price-to-earnings ratio of 47.41, a PEG ratio of 3.39 and a beta of 0.98. Docusign has a 1-year low of $63.41 and a 1-year high of $99.71.

Insider Transactions at Docusign

In other news, insider James P. Shaughnessy sold 7,500 shares of the stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $71.19, for a total value of $533,925.00. Following the sale, the insider directly owned 55,442 shares in the company, valued at approximately $3,946,915.98. This trade represents a 11.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert Chatwani sold 13,818 shares of Docusign stock in a transaction on 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 approximately $4,796,561.01. This trade represents a 16.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 87,542 shares of company stock valued at $6,097,905. 1.01% of the stock is owned by corporate insiders.

Institutional Trading of Docusign

Several hedge funds have recently added to or reduced their stakes in DOCU. Banque Transatlantique SA acquired a new position in Docusign during the 1st quarter worth approximately $26,000. Rise Advisors LLC raised its holdings in shares of Docusign by 864.6% in the 1st quarter. Rise Advisors LLC now owns 463 shares of the company’s stock valued at $38,000 after purchasing an additional 415 shares in the last quarter. WPG Advisers LLC purchased a new stake in shares of Docusign during the 1st quarter worth $39,000. Twin Peaks Wealth Advisors LLC acquired a new position in shares of Docusign during the second quarter worth $43,000. Finally, SJS Investment Consulting Inc. increased its holdings in Docusign by 5,318.2% in the third quarter. SJS Investment Consulting Inc. now owns 596 shares of the company’s stock valued at $43,000 after buying an additional 585 shares during the last quarter. Institutional investors and hedge funds 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.