DocuSign, Inc. (NASDAQ:DOCU) Given Average Recommendation of "Hold" by Brokerages

Shares of DocuSign, Inc. (NASDAQ:DOCU - Get Free Report) have been given a consensus rating of "Hold" by the eleven analysts that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $63.40.

A number of brokerages have recently issued reports on DOCU. Citigroup increased their target price on DocuSign from $86.00 to $87.00 and gave the stock a "buy" rating in a report on Friday, September 6th. Wells Fargo & Company increased their price objective on DocuSign from $48.00 to $50.00 and gave the stock an "underweight" rating in a research note on Friday, September 6th. JMP Securities restated a "market outperform" rating and issued a $84.00 target price on shares of DocuSign in a research note on Thursday, September 5th. Needham & Company LLC reaffirmed a "hold" rating on shares of DocuSign in a report on Friday, September 6th. Finally, Bank of America lifted their price target on shares of DocuSign from $60.00 to $68.00 and gave the company a "neutral" rating in a report on Friday, September 6th.

Insider Buying and Selling at DocuSign

In other news, insider Robert Chatwani sold 14,799 shares of DocuSign stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $55.46, for a total value of $820,752.54. Following the completion of the sale, the insider now directly owns 70,748 shares of the company's stock, valued at approximately $3,923,684.08. This trade represents a 17.30 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Allan C. Thygesen sold 7,725 shares of the business's stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $59.09, for a total value of $456,470.25. Following the sale, the chief executive officer now owns 102,193 shares of the company's stock, valued at approximately $6,038,584.37. The trade was a 7.03 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 69,558 shares of company stock worth $4,272,768. 1.66% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of DOCU. Toronto Dominion Bank raised its stake in shares of DocuSign by 30.3% during the third quarter. Toronto Dominion Bank now owns 26,159 shares of the company's stock worth $1,624,000 after buying an additional 6,081 shares during the last quarter. Geode Capital Management LLC raised its position in shares of DocuSign by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 3,483,184 shares of the company's stock valued at $215,789,000 after acquiring an additional 53,554 shares during the last quarter. M&T Bank Corp raised its position in shares of DocuSign by 5.5% during the 3rd quarter. M&T Bank Corp now owns 10,697 shares of the company's stock valued at $664,000 after acquiring an additional 558 shares during the last quarter. Executive Wealth Management LLC acquired a new position in shares of DocuSign in the 3rd quarter valued at $2,338,000. Finally, Nomura Asset Management Co. Ltd. boosted its position in shares of DocuSign by 10.1% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 148,594 shares of the company's stock worth $9,226,000 after purchasing an additional 13,599 shares during the last quarter. Institutional investors own 77.64% of the company's stock.

DocuSign Price Performance

DOCU opened at $78.81 on Thursday. The company has a market capitalization of $16.00 billion, a P/E ratio of 16.63, a P/E/G ratio of 8.37 and a beta of 0.90. The firm's fifty day moving average price is $68.00 and its two-hundred day moving average price is $59.80. DocuSign has a fifty-two week low of $42.12 and a fifty-two week high of $83.68.

DocuSign (NASDAQ:DOCU - Get Free Report) last released its quarterly earnings data on Thursday, September 5th. The company reported $0.97 EPS for the quarter, topping analysts' consensus estimates of $0.80 by $0.17. DocuSign had a net margin of 34.56% and a return on equity of 16.18%. The company had revenue of $736.03 million during the quarter, compared to the consensus estimate of $727.20 million. During the same period last year, the firm earned $0.09 EPS. The firm's revenue for the quarter was up 7.0% compared to the same quarter last year. On average, equities research analysts expect that DocuSign will post 1.01 EPS for the current fiscal year.

DocuSign Company Profile

DocuSign, Inc provides electronic signature solution in the United States and internationally. The company provides e-signature solution that enables sending and signing of agreements on various devices; Contract Lifecycle Management (CLM), which automates workflows across the entire agreement process; Document Generation streamlines the process of generating new, custom agreements; and Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce.