DocuSign's (DOCU) "Reduce" Rating Reaffirmed at HSBC

DocuSign (NASDAQ:DOCU - Get Free Report)'s stock had its "reduce" rating reissued by stock analysts at HSBC in a research note issued to investors on Friday,Benzinga reports.

Several other equities analysts have also recently weighed in on DOCU. Royal Bank of Canada reiterated a "sector perform" rating and set a $90.00 price objective (up from $57.00) on shares of DocuSign in a research report on Friday. Bank of America lifted their price objective on shares of DocuSign from $60.00 to $68.00 and gave the stock a "neutral" rating in a research report on Friday, September 6th. Wells Fargo & Company lifted their price objective on shares of DocuSign from $50.00 to $70.00 and gave the stock an "underweight" rating in a research report on Friday. JPMorgan Chase & Co. lifted their price objective on shares of DocuSign from $50.00 to $70.00 and gave the stock an "underweight" rating in a research report on Tuesday. Finally, Morgan Stanley lifted their price objective on shares of DocuSign from $62.00 to $97.00 and gave the stock an "equal weight" rating in a research report on Friday. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $92.45.

DocuSign Stock Performance

Shares of DOCU traded up $22.20 during mid-day trading on Friday, reaching $105.88. 16,621,148 shares of the company's stock traded hands, compared to its average volume of 2,934,783. The business's 50-day moving average price is $73.75 and its 200-day moving average price is $61.68. The stock has a market capitalization of $21.49 billion, a P/E ratio of 22.51, a price-to-earnings-growth ratio of 8.33 and a beta of 0.92. DocuSign has a 12 month low of $44.34 and a 12 month high of $107.86.

DocuSign (NASDAQ:DOCU - Get Free Report) last posted its quarterly earnings results on Thursday, September 5th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.17. The firm had revenue of $736.03 million for the quarter, compared to analyst estimates of $727.20 million. DocuSign had a net margin of 34.56% and a return on equity of 16.18%. The firm's quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.09 earnings per share. Equities research analysts anticipate that DocuSign will post 1.03 EPS for the current year.

Insider Transactions at DocuSign

In other news, CEO Allan C. Thygesen sold 7,648 shares of DocuSign stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $62.47, for a total value of $477,770.56. Following the completion of the transaction, the chief executive officer now owns 115,589 shares of the company's stock, valued at $7,220,844.83. This trade represents a 6.21 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Teresa Briggs sold 534 shares of DocuSign stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $56.56, for a total transaction of $30,203.04. Following the completion of the transaction, the director now directly owns 7,202 shares of the company's stock, valued at approximately $407,345.12. This trade represents a 6.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 69,596 shares of company stock valued at $4,441,529 over the last quarter. Corporate insiders own 1.66% of the company's stock.

Institutional Trading of DocuSign

Several hedge funds and other institutional investors have recently modified their holdings of DOCU. State Street Corp boosted its holdings 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 purchasing an additional 120,743 shares during the period. American Century Companies Inc. boosted its holdings in DocuSign by 1.9% in the 2nd quarter. American Century Companies Inc. now owns 4,099,400 shares of the company's stock valued at $219,318,000 after purchasing an additional 75,026 shares during the period. Renaissance Technologies LLC boosted its holdings in DocuSign by 18.3% in the 2nd quarter. Renaissance Technologies LLC now owns 3,729,314 shares of the company's stock valued at $199,518,000 after purchasing an additional 576,414 shares during the period. Pacer Advisors Inc. boosted its holdings in DocuSign by 77.9% in the 2nd quarter. Pacer Advisors Inc. now owns 3,519,969 shares of the company's stock valued at $188,318,000 after purchasing an additional 1,541,816 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of DocuSign by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 3,483,184 shares of the company's stock valued at $215,789,000 after buying an additional 53,554 shares in the last quarter. 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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