Docusign (NASDAQ:DOCU) Shares Up 4.8% – Should You Buy?

Docusign Inc. (NASDAQ:DOCU)’s stock price traded up 4.8% during mid-day trading on Tuesday . The company traded as high as $72.73 and last traded at $73.1190. 1,167,065 shares traded hands during mid-day trading, a decline of 71% from the average session volume of 4,079,605 shares. The stock had previously closed at $69.76.

Analyst Upgrades and Downgrades

DOCU has been the subject of a number of recent research reports. Wall Street Zen cut shares of Docusign from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 2nd. Bank of America boosted their price target on shares of Docusign from $58.00 to $64.00 and gave the stock an “underperform” rating in a research report on Friday, September 4th. UBS Group increased their price objective on shares of Docusign from $54.00 to $70.00 and gave the company a “neutral” rating in a report on Friday, September 4th. Citigroup raised their target price on shares of Docusign from $54.00 to $72.00 and gave the stock a “neutral” rating in a research note on Friday, September 4th. Finally, Robert W. Baird boosted their target price on Docusign from $55.00 to $72.00 and gave the stock a “neutral” rating in a report on Friday, September 4th. Three equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Docusign has an average rating of “Hold” and a consensus price target of $67.33.

Docusign Trading Up 3.9%

The firm has a fifty day moving average price of $58.21 and a 200 day moving average price of $50.86. The firm has a market cap of $13.55 billion, a PE ratio of 44.18, a price-to-earnings-growth ratio of 2.47 and a beta of 0.90.

Docusign (NASDAQ:DOCU) last announced its quarterly earnings data on Thursday, September 3rd. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.07. Docusign had a net margin of 9.82% and a return on equity of 18.29%. The firm had revenue of $875.75 million during the quarter, compared to analyst estimates of $867.22 million. During the same quarter in the prior year, the firm posted $0.30 earnings per share. Docusign’s quarterly revenue was up 9.4% on a year-over-year basis. As a group, equities analysts predict that Docusign Inc. will post 2.1 earnings per share for the current year.

Insider Transactions at Docusign

In related news, Director Peter Solvik sold 46,000 shares of the stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $65.24, for a total value of $3,001,040.00. Following the completion of the transaction, the director directly owned 49,558 shares in the company, valued at approximately $3,233,163.92. This represents a 48.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Robert Chatwani sold 15,902 shares of the firm’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $43.01, for a total value of $683,945.02. Following the sale, the insider directly owned 72,805 shares of the company’s stock, 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. Insiders sold a total of 182,150 shares of company stock valued at $10,443,740 in the last ninety days. 0.59% of the stock is currently owned by corporate insiders.

Institutional Trading of Docusign

Several institutional investors and hedge funds have recently bought and sold shares of DOCU. Integrated Wealth Concepts LLC boosted its stake in Docusign by 2.0% during the second quarter. Integrated Wealth Concepts LLC now owns 14,359 shares of the company’s stock worth $638,000 after buying an additional 277 shares during the period. NewEdge Advisors LLC raised its stake in shares of Docusign by 29.8% in the 2nd quarter. NewEdge Advisors LLC now owns 14,311 shares of the company’s stock valued at $636,000 after acquiring an additional 3,287 shares during the period. IFP Advisors Inc lifted its holdings in shares of Docusign by 38.9% in the 2nd quarter. IFP Advisors Inc now owns 3,923 shares of the company’s stock worth $174,000 after acquiring an additional 1,098 shares during the last quarter. Baird Financial Group Inc. boosted its position in shares of Docusign by 3.0% during the 2nd quarter. Baird Financial Group Inc. now owns 119,634 shares of the company’s stock worth $5,314,000 after purchasing an additional 3,538 shares during the period. Finally, Waverly Advisors LLC boosted its position in shares of Docusign by 99.7% during the 2nd quarter. Waverly Advisors LLC now owns 8,528 shares of the company’s stock worth $379,000 after purchasing an additional 4,257 shares during the period. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

Docusign Company Profile

DocuSign, Inc is a provider of digital agreement management and electronic signature solutions. Its platform enables individuals and organizations to prepare, send, sign, manage and store agreements electronically, helping businesses replace paper-based contracting processes with digital workflows.

The company’s products and services include DocuSign eSignature, which supports electronic signing and authentication, as well as tools for contract lifecycle management, agreement preparation, identity verification, notarial services and workflow automation.