Docusign Inc. (NASDAQ:DOCU) Given Average Recommendation of “Hold” by Analysts

Shares of Docusign Inc. (NASDAQ:DOCU) have received an average recommendation of “Hold” from the nineteen ratings firms that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, fifteen have given a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $60.2667.

DOCU has been the subject of several analyst reports. Wall Street Zen downgraded Docusign from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 12th. Bank of America initiated coverage on shares of Docusign in a research note on Tuesday, March 31st. They set an “underperform” rating and a $52.00 price objective for the company. UBS Group set a $60.00 target price on shares of Docusign in a report on Friday, June 5th. Weiss Ratings raised shares of Docusign from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, July 14th. Finally, Wedbush cut their price target on shares of Docusign from $60.00 to $58.00 and set a “neutral” rating on the stock in a report on Friday, June 5th.

Insider Activity at Docusign

In other news, CFO Blake Jeffrey Grayson sold 15,000 shares of the firm’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $45.55, for a total value of $683,250.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a 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 Docusign stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $43.01, for a total value of $683,945.02. Following the transaction, the insider directly owned 72,805 shares in the company, valued at approximately $3,131,343.05. This trade represents a 17.93% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 76,695 shares of company stock worth $3,476,002. Insiders own 0.59% of the company’s stock.

Hedge Funds Weigh In On Docusign

A number of hedge funds have recently modified their holdings of DOCU. Smartleaf Asset Management LLC grew its position in shares of Docusign by 8.2% during the 2nd quarter. Smartleaf Asset Management LLC now owns 2,169 shares of the company’s stock worth $166,000 after purchasing an additional 165 shares in the last quarter. Centaurus Financial Inc. increased its holdings in shares of Docusign by 3.4% during the third 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 shares of Docusign by 3.6% in the first quarter. Tred Avon Family Wealth LLC now owns 6,176 shares of the company’s stock valued at $293,000 after buying an additional 215 shares in the last quarter. True Wealth Design LLC boosted its stake in shares of Docusign by 105.2% in the fourth quarter. True Wealth Design LLC now owns 433 shares of the company’s stock valued at $30,000 after buying an additional 222 shares during the period. Finally, Sanctuary Advisors LLC boosted its stake in shares of Docusign by 2.4% in the fourth quarter. Sanctuary Advisors LLC now owns 9,685 shares of the company’s stock valued at $662,000 after buying an additional 231 shares during the period. 77.64% of the stock is owned by institutional investors and hedge funds.

Docusign Price Performance

NASDAQ DOCU opened at $52.30 on Tuesday. Docusign has a 12 month low of $40.16 and a 12 month high of $86.65. The company has a market capitalization of $9.99 billion, a price-to-earnings ratio of 33.96, a price-to-earnings-growth ratio of 1.55 and a beta of 0.90. The company’s fifty day moving average price is $47.58 and its two-hundred day moving average price is $49.27.

Docusign (NASDAQ:DOCU) last announced its quarterly earnings data on Thursday, June 4th. The company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.10. The firm had revenue of $830.24 million for the quarter, compared to analysts’ expectations of $824.71 million. Docusign had a return on equity of 17.48% and a net margin of 9.59%.Docusign’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.90 earnings per share. As a group, analysts anticipate that Docusign will post 2.03 EPS for the current year.

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.