Analysts Set Docusign Inc. (NASDAQ:DOCU) Price Target at $85.13

Shares of Docusign Inc. (NASDAQ:DOCU) have earned a consensus rating of “Hold” from the twenty-two brokerages that are currently covering the company, Marketbeat reports. Sixteen investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $85.1333.

Several brokerages recently weighed in on DOCU. UBS Group reduced their price target on Docusign from $85.00 to $75.00 and set a “neutral” rating on the stock in a research note on Friday, December 5th. Robert W. Baird reduced their target price on shares of Docusign from $90.00 to $75.00 and set a “neutral” rating on the stock in a research report on Friday, December 5th. JMP Securities reissued a “market outperform” rating and set a $124.00 price target on shares of Docusign in a research report on Friday, October 3rd. Royal Bank Of Canada cut their price objective on shares of Docusign from $95.00 to $70.00 and set a “sector perform” rating on the stock in a report on Monday, January 5th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Docusign in a report on Wednesday.

Insiders Place Their Bets

In other news, CFO Blake Jeffrey Grayson sold 6,500 shares of the firm’s stock in a transaction on Friday, January 9th. The stock was sold at an average price of $70.00, for a total transaction of $455,000.00. Following the completion of the transaction, the chief financial officer directly owned 111,713 shares in the company, valued at $7,819,910. This trade represents a 5.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider James P. Shaughnessy sold 12,000 shares of the company’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $67.03, for a total transaction of $804,360.00. Following the completion of the transaction, the insider owned 54,550 shares in the company, valued at approximately $3,656,486.50. The trade was a 18.03% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 78,292 shares of company stock valued at $5,374,260. Company insiders own 1.01% of the company’s stock.

Hedge Funds Weigh In On Docusign

A number of hedge funds have recently added to or reduced their stakes in DOCU. Central Pacific Bank Trust Division purchased a new stake in Docusign during the 4th quarter valued at $25,000. Aventura Private Wealth LLC purchased a new position in shares of Docusign in the fourth quarter worth $30,000. True Wealth Design LLC lifted its holdings in shares of Docusign by 105.2% during the fourth quarter. True Wealth Design LLC now owns 433 shares of the company’s stock valued at $30,000 after purchasing an additional 222 shares in the last quarter. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Docusign during the second quarter valued at $43,000. Finally, SJS Investment Consulting Inc. boosted its position in shares of Docusign by 5,318.2% during 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. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

Docusign Price Performance

Shares of DOCU opened at $57.44 on Tuesday. The company has a 50-day simple moving average of $66.39 and a two-hundred day simple moving average of $71.67. The firm has a market capitalization of $11.50 billion, a PE ratio of 40.17, a price-to-earnings-growth ratio of 2.83 and a beta of 0.99. Docusign has a one year low of $55.46 and a one year high of $99.30.

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.