DocuSign (NASDAQ:DOCU) Receives Hold Rating from Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of DocuSign (NASDAQ:DOCU - Free Report) in a research note published on Thursday morning,Benzinga reports.

Several other brokerages have also recently issued reports on DOCU. Citigroup lifted their price objective on shares of DocuSign from $113.00 to $115.00 and gave the stock a "buy" rating in a research note on Friday, March 14th. Wedbush reaffirmed a "neutral" rating and issued a $100.00 price target on shares of DocuSign in a report on Friday, March 14th. Bank of America decreased their target price on DocuSign from $112.00 to $98.00 and set a "neutral" rating on the stock in a report on Friday, March 14th. JPMorgan Chase & Co. raised DocuSign from an "underweight" rating to a "neutral" rating and lifted their price target for the stock from $70.00 to $75.00 in a research note on Monday, March 10th. Finally, Robert W. Baird set a $93.00 price objective on shares of DocuSign in a research note on Friday, March 14th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $93.08.

DocuSign Stock Performance

Shares of NASDAQ:DOCU traded down $0.97 on Thursday, hitting $75.42. The company's stock had a trading volume of 1,308,166 shares, compared to its average volume of 2,740,164. DocuSign has a 12 month low of $48.70 and a 12 month high of $107.86. The stock's 50-day moving average is $81.35 and its two-hundred day moving average is $83.24. The company has a market capitalization of $15.27 billion, a price-to-earnings ratio of 15.55, a price-to-earnings-growth ratio of 6.94 and a beta of 1.20.

DocuSign (NASDAQ:DOCU - Get Free Report) last released its earnings results on Thursday, March 13th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.84 by $0.02. The firm had revenue of $776.25 million for the quarter, compared to analysts' expectations of $760.94 million. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. DocuSign's quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter last year, the company earned $0.76 EPS. Equities analysts expect that DocuSign will post 1.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Robert Chatwani sold 15,706 shares of DocuSign stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $83.19, for a total value of $1,306,582.14. Following the transaction, the insider now directly owns 76,842 shares in the company, valued at approximately $6,392,485.98. The trade was a 16.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Blake Jeffrey Grayson sold 8,000 shares of the company's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $86.90, for a total transaction of $695,200.00. Following the transaction, the chief financial officer now directly owns 77,851 shares of the company's stock, valued at $6,765,251.90. This represents a 9.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 55,851 shares of company stock valued at $4,607,439 over the last quarter. Insiders own 1.66% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of DOCU. QRG Capital Management Inc. increased its stake in shares of DocuSign by 10.1% in the 1st quarter. QRG Capital Management Inc. now owns 66,242 shares of the company's stock valued at $5,392,000 after buying an additional 6,087 shares during the period. Adero Partners LLC lifted its position in DocuSign by 7.0% during the 1st quarter. Adero Partners LLC now owns 3,231 shares of the company's stock valued at $263,000 after purchasing an additional 212 shares during the period. Janney Montgomery Scott LLC grew its position in shares of DocuSign by 6.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 41,359 shares of the company's stock worth $3,367,000 after buying an additional 2,554 shares during the period. Optas LLC grew its position in shares of DocuSign by 7.6% during the 1st quarter. Optas LLC now owns 3,088 shares of the company's stock worth $251,000 after buying an additional 219 shares during the period. Finally, Ritholtz Wealth Management raised its stake in shares of DocuSign by 58.5% during the first quarter. Ritholtz Wealth Management now owns 3,926 shares of the company's stock worth $320,000 after buying an additional 1,449 shares during the last quarter. 77.64% of the stock is owned by institutional investors.

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.