Docusign Inc. (NASDAQ:DOCU) Receives Consensus Rating of “Hold” from Brokerages

Shares of Docusign Inc. (NASDAQ:DOCU) have been assigned a consensus recommendation of “Hold” from the eighteen research firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, fourteen have issued a hold recommendation and three have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $67.33.

DOCU has been the topic of several 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. UBS Group upped their target price on shares of Docusign from $54.00 to $70.00 and gave the stock a “neutral” rating in a research report on Friday, September 4th. Royal Bank Of Canada increased their target price on Docusign from $55.00 to $70.00 and gave the company a “sector perform” rating in a research note on Friday, September 4th. Bank of America raised their price target on Docusign from $58.00 to $64.00 and gave the company an “underperform” rating in a research report on Friday, September 4th. Finally, Weiss Ratings raised Docusign from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 25th.

Docusign Trading Up 3.9%

DOCU stock opened at $69.74 on Friday. The company’s 50 day moving average is $63.15 and its 200 day moving average is $52.87. The stock has a market cap of $13.03 billion, a price-to-earnings ratio of 42.52, a price-to-earnings-growth ratio of 2.49 and a beta of 0.86. Docusign has a 1-year low of $40.16 and a 1-year high of $75.00.

Docusign (NASDAQ:DOCU) last announced its earnings results on Thursday, September 3rd. The company reported $1.16 earnings per share 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 business had revenue of $875.75 million for the quarter, compared to the consensus estimate of $867.22 million. During the same period last 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, sell-side analysts forecast that Docusign will post 2.13 EPS for the current fiscal year.

Insider Activity

In other Docusign news, Director Anna Marrs sold 548 shares of the company’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $67.00, for a total value of $36,716.00. Following the completion of the sale, the director owned 13,525 shares of the company’s stock, valued at $906,175. This represents a 3.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Blake Grayson sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $70.00, for a total value of $2,100,000.00. Following the completion of the sale, the chief financial officer directly owned 96,429 shares of the company’s stock, valued at approximately $6,750,030. This represents a 23.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 123,318 shares of company stock worth $8,181,555. 0.59% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Docusign

A number of hedge funds have recently made changes to their positions in DOCU. BlackRock Inc. purchased a new stake in Docusign during the second quarter valued at about $927,059,000. Capital World Investors increased its holdings in shares of Docusign by 38.1% in the fourth quarter. Capital World Investors now owns 5,815,804 shares of the company’s stock worth $397,801,000 after buying an additional 1,603,900 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in shares of Docusign by 76.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 5,285,128 shares of the company’s stock worth $250,568,000 after buying an additional 2,283,996 shares during the period. Geode Capital Management LLC increased its holdings in shares of Docusign by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 4,084,463 shares of the company’s stock worth $278,665,000 after buying an additional 18,873 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in shares of Docusign by 4.0% in the 1st quarter. Renaissance Technologies LLC now owns 3,170,061 shares of the company’s stock valued at $150,293,000 after acquiring an additional 123,100 shares during the last quarter. 77.64% of the stock is currently owned by institutional investors.

Docusign Company Profile

DocuSign, Inc (NASDAQ:DOCU) provides cloud-based software for electronically signing, managing and automating agreements. Its platform enables individuals and organizations to prepare, send, sign, track and store documents digitally, helping replace paper-based contracting processes.

The company’s offerings include electronic signature tools, contract lifecycle management, identity verification and authentication services, document generation, agreement analytics and related workflow automation capabilities.