Docusign (NASDAQ:DOCU) Hits New 52-Week Low – What’s Next?

Docusign Inc. (NASDAQ:DOCU) reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $55.42 and last traded at $55.5180, with a volume of 625085 shares trading hands. The stock had previously closed at $57.66.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. UBS Group lowered their target price on shares of Docusign from $85.00 to $75.00 and set a “neutral” rating on the stock 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 report on Friday, December 5th. Piper Sandler cut their price objective 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. JMP Securities reissued a “market outperform” rating and issued a $124.00 price target on shares of Docusign in a report on Friday, October 3rd. Finally, Royal Bank Of Canada dropped their price objective on Docusign from $95.00 to $70.00 and set a “sector perform” rating for the company in a research note on Monday, January 5th. Six investment analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $85.13.

Docusign Trading Down 3.6%

The business’s 50 day moving average price is $66.25 and its two-hundred day moving average price is $71.48. The stock has a market cap of $11.13 billion, a P/E ratio of 38.85, a price-to-earnings-growth ratio of 2.83 and a beta of 0.99.

Insiders Place Their Bets

In other news, CRO Paula Hansen sold 6,000 shares of the business’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $67.05, for a total transaction of $402,300.00. Following the sale, the executive owned 68,970 shares in the company, valued at approximately $4,624,438.50. The trade was a 8.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Blake Jeffrey Grayson sold 9,515 shares of the business’s stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $68.33, for a total transaction of $650,159.95. Following the sale, the chief financial officer directly owned 118,213 shares in the company, valued at $8,077,494.29. The trade was a 7.45% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 78,292 shares of company stock valued at $5,374,260 in the last 90 days. Corporate insiders own 1.66% of the company’s stock.

Hedge Funds Weigh In On Docusign

Institutional investors and hedge funds have recently made changes to their positions in the business. NewEdge Advisors LLC boosted its holdings in Docusign by 36.4% in the 1st quarter. NewEdge Advisors LLC now owns 9,202 shares of the company’s stock worth $749,000 after buying an additional 2,457 shares during the period. Ballentine Partners LLC boosted its stake in shares of Docusign by 5.2% in the second quarter. Ballentine Partners LLC now owns 3,431 shares of the company’s stock worth $267,000 after acquiring an additional 169 shares during the period. Public Employees Retirement System of Ohio boosted its stake in shares of Docusign by 1.0% in the second quarter. Public Employees Retirement System of Ohio now owns 67,153 shares of the company’s stock worth $5,231,000 after acquiring an additional 693 shares during the period. State of Alaska Department of Revenue grew its position in shares of Docusign by 59.6% during the second quarter. State of Alaska Department of Revenue now owns 37,780 shares of the company’s stock worth $2,942,000 after purchasing an additional 14,105 shares in the last quarter. Finally, GraniteShares Advisors LLC bought a new stake in Docusign during the 2nd quarter valued at approximately $411,000. Hedge funds and other institutional investors own 77.64% of the company’s stock.

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.