DocuSign, Inc. (NASDAQ:DOCU) Receives Consensus Rating of "Hold" from Analysts

DocuSign, Inc. (NASDAQ:DOCU - Get Free Report) has been given a consensus recommendation of "Hold" by the thirteen brokerages that are covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $92.45.

A number of equities analysts have recently commented on the stock. Wells Fargo & Company raised their price objective on shares of DocuSign from $50.00 to $70.00 and gave the company an "underweight" rating in a research report on Friday, December 6th. Needham & Company LLC restated a "hold" rating on shares of DocuSign in a research report on Friday, December 6th. Citigroup increased their price objective on DocuSign from $87.00 to $113.00 and gave the stock a "buy" rating in a research report on Friday, December 6th. HSBC restated a "reduce" rating on shares of DocuSign in a research report on Friday, December 6th. Finally, Morgan Stanley raised their price target on DocuSign from $62.00 to $97.00 and gave the company an "equal weight" rating in a report on Friday, December 6th.

DocuSign Trading Down 0.2 %

Shares of DOCU stock opened at $96.50 on Tuesday. DocuSign has a 12 month low of $48.70 and a 12 month high of $107.86. The stock has a market capitalization of $19.50 billion, a P/E ratio of 19.90, a PEG ratio of 8.74 and a beta of 0.88. The firm's 50 day moving average is $91.32 and its 200 day moving average is $73.08.

Insider Activity at DocuSign

In other news, CEO Allan C. Thygesen sold 7,763 shares of the company's stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $80.54, for a total transaction of $625,232.02. Following the transaction, the chief executive officer now directly owns 100,062 shares of the company's stock, valued at approximately $8,058,993.48. This represents a 7.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Teresa Briggs sold 534 shares of the company's stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $94.60, for a total value of $50,516.40. Following the transaction, the director now directly owns 7,736 shares in the company, valued at $731,825.60. This represents a 6.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 685,773 shares of company stock worth $66,032,726. Company insiders own 1.66% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. State Street Corp lifted its stake in DocuSign by 2.3% in the 3rd quarter. State Street Corp now owns 5,372,939 shares of the company's stock valued at $333,604,000 after buying an additional 120,743 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of DocuSign by 1.6% during the third 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. Thrivent Financial for Lutherans boosted its stake in shares of DocuSign by 5.2% in the third quarter. Thrivent Financial for Lutherans now owns 2,277,312 shares of the company's stock worth $141,398,000 after acquiring an additional 112,919 shares during the last quarter. FMR LLC increased its position in shares of DocuSign by 16.8% during the third quarter. FMR LLC now owns 2,192,885 shares of the company's stock worth $136,156,000 after purchasing an additional 315,073 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in DocuSign by 14.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,659,367 shares of the company's stock valued at $103,030,000 after purchasing an additional 208,813 shares during the last quarter. Hedge funds and other institutional investors own 77.64% of the company's stock.

About DocuSign

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.

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