Docusign (NASDAQ:DOCU) had its price target boosted by Piper Jaffray Companies from $50.00 to $61.00 in a research report sent to investors on Monday, The Fly reports. They currently have an overweight rating on the stock.
Several other research analysts also recently weighed in on the stock. Morgan Stanley upgraded shares of Docusign from an equal weight rating to an overweight rating and upped their price objective for the stock from $52.00 to $53.00 in a report on Tuesday, January 15th. Deutsche Bank upgraded shares of Docusign from a hold rating to a buy rating and upped their price objective for the stock from $50.00 to $65.00 in a report on Tuesday, February 12th. KeyCorp started coverage on shares of Docusign in a report on Monday, January 28th. They set an overweight rating and a $59.00 price objective on the stock. Zacks Investment Research upgraded shares of Docusign from a sell rating to a hold rating in a report on Thursday, January 31st. Finally, Goldman Sachs Group started coverage on shares of Docusign in a report on Thursday, December 13th. They set a neutral rating and a $45.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Docusign has a consensus rating of Buy and an average price target of $60.58.
Docusign stock opened at $58.85 on Monday. The company has a quick ratio of 2.91, a current ratio of 2.91 and a debt-to-equity ratio of 0.53. Docusign has a 12-month low of $35.06 and a 12-month high of $68.35.
In other news, Director Keith J. Krach sold 51,982 shares of the stock in a transaction dated Friday, December 21st. The shares were sold at an average price of $40.34, for a total value of $2,096,953.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Keith J. Krach sold 34,340 shares of the stock in a transaction dated Tuesday, December 18th. The shares were sold at an average price of $42.25, for a total transaction of $1,450,865.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 814,317 shares of company stock valued at $39,150,912.
Several hedge funds have recently made changes to their positions in the company. FMR LLC raised its holdings in shares of Docusign by 40.6% in the fourth quarter. FMR LLC now owns 5,343,427 shares of the company’s stock valued at $214,165,000 after purchasing an additional 1,544,047 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Docusign by 60.1% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,087,761 shares of the company’s stock valued at $203,917,000 after purchasing an additional 1,909,833 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Docusign by 17.9% in the fourth quarter. BlackRock Inc. now owns 2,485,042 shares of the company’s stock valued at $99,601,000 after purchasing an additional 376,642 shares during the last quarter. Accel London III Associates L.P. purchased a new stake in shares of Docusign in the fourth quarter valued at about $98,230,000. Finally, Vanguard Group Inc. raised its holdings in shares of Docusign by 3.7% in the third quarter. Vanguard Group Inc. now owns 1,922,947 shares of the company’s stock valued at $101,089,000 after purchasing an additional 69,428 shares during the last quarter. Institutional investors own 54.41% of the company’s stock.
Docusign Company Profile
DocuSign, Inc provides cloud based transaction products and services in the United States. The company offers e-signature solution that enables businesses to digitally prepare, execute, and act on agreements. It serves large enterprises, sole proprietorships, small- to medium-sized businesses, professionals, and individuals.
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