DocuSign’s (DOCU) “Hold” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of DocuSign (NASDAQ:DOCU) in a report issued on Friday morning, Benzinga reports.

Several other research analysts also recently commented on the company. Royal Bank of Canada reiterated a sector perform rating and issued a $50.00 price objective on shares of DocuSign in a report on Friday, January 12th. JMP Securities reiterated a market outperform rating and issued a $84.00 price objective on shares of DocuSign in a report on Monday, January 22nd. Morgan Stanley upgraded DocuSign from an underweight rating to an equal weight rating and lifted their price objective for the stock from $49.00 to $64.00 in a report on Tuesday, January 16th. UBS Group upgraded DocuSign from a sell rating to a neutral rating and boosted their price target for the company from $48.00 to $62.00 in a report on Friday. Finally, Wells Fargo & Company reduced their price target on DocuSign from $55.00 to $45.00 and set an underweight rating on the stock in a report on Monday, February 5th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Hold and an average target price of $60.25.

DocuSign Stock Down 3.8 %

NASDAQ DOCU opened at $56.67 on Friday. The stock’s 50-day simple moving average is $55.44 and its two-hundred day simple moving average is $51.84. DocuSign has a twelve month low of $38.11 and a twelve month high of $64.76. The company has a market capitalization of $11.64 billion, a price-to-earnings ratio of 157.42, a PEG ratio of 5.15 and a beta of 0.89.

DocuSign (NASDAQ:DOCU) last released its quarterly earnings data on Thursday, March 7th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.09 by $0.06. The firm had revenue of $712.39 million for the quarter, compared to the consensus estimate of $698.05 million. DocuSign had a return on equity of 13.91% and a net margin of 2.68%. On average, equities analysts expect that DocuSign will post 0.86 earnings per share for the current fiscal year.

Insider Buying and Selling at DocuSign

In other news, insider Stephen Shute sold 15,109 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $57.02, for a total value of $861,515.18. Following the sale, the insider now directly owns 8,959 shares of the company’s stock, valued at approximately $510,842.18. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Stephen Shute sold 15,109 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $57.02, for a total value of $861,515.18. Following the completion of the transaction, the insider now directly owns 8,959 shares in the company, valued at approximately $510,842.18. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Allan C. Thygesen sold 7,680 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $61.27, for a total transaction of $470,553.60. Following the completion of the transaction, the chief executive officer now owns 111,767 shares of the company’s stock, valued at $6,847,964.09. The disclosure for this sale can be found here. In the last three months, insiders have sold 54,871 shares of company stock valued at $3,176,199. 17.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On DocuSign

Hedge funds have recently added to or reduced their stakes in the stock. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its stake in DocuSign by 440.0% during the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 270 shares of the company’s stock valued at $28,000 after buying an additional 220 shares during the last quarter. Capital Analysts LLC increased its stake in shares of DocuSign by 781.7% in the 4th quarter. Capital Analysts LLC now owns 529 shares of the company’s stock worth $31,000 after purchasing an additional 469 shares in the last quarter. BluePath Capital Management LLC purchased a new stake in shares of DocuSign in the 3rd quarter worth $32,000. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of DocuSign in the 4th quarter worth $32,000. Finally, Virtus Fund Advisers LLC purchased a new stake in shares of DocuSign in the 4th quarter worth $33,000. 77.64% of the stock is currently owned by hedge funds and other 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.