DocuSign, Inc. (NASDAQ:DOCU) Given Average Rating of “Hold” by Analysts

DocuSign, Inc. (NASDAQ:DOCU) has received an average recommendation of “Hold” from the twelve brokerages that are covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $59.36.

Several equities research analysts recently commented on the stock. Bank of America dropped their price objective on shares of DocuSign from $72.00 to $60.00 and set a “neutral” rating on the stock in a research note on Friday, June 7th. UBS Group upgraded DocuSign from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $48.00 to $62.00 in a research note on Friday, April 12th. Morgan Stanley cut their target price on DocuSign from $65.00 to $62.00 and set an “equal weight” rating on the stock in a research note on Friday, June 7th. Royal Bank of Canada lowered their price target on DocuSign from $59.00 to $52.00 and set a “sector perform” rating for the company in a research report on Friday, June 7th. Finally, Robert W. Baird cut their price objective on shares of DocuSign from $65.00 to $55.00 and set a “neutral” rating on the stock in a research report on Friday, June 7th.

Insider Buying and Selling

In other news, insider James P. Shaughnessy sold 1,800 shares of the firm’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $50.98, for a total transaction of $91,764.00. Following the sale, the insider now directly owns 35,703 shares in the company, valued at approximately $1,820,138.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Peter Solvik sold 15,000 shares of the company’s stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $60.00, for a total transaction of $900,000.00. Following the sale, the director now directly owns 783 shares in the company, valued at approximately $46,980. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider James P. Shaughnessy sold 1,800 shares of DocuSign stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $50.98, for a total value of $91,764.00. Following the completion of the transaction, the insider now owns 35,703 shares of the company’s stock, valued at approximately $1,820,138.94. The disclosure for this sale can be found here. In the last three months, insiders have sold 91,107 shares of company stock valued at $4,861,484. 1.66% of the stock is owned by company insiders.

Institutional Trading of DocuSign

A number of institutional investors have recently bought and sold shares of the stock. New York State Teachers Retirement System lifted its holdings in shares of DocuSign by 0.9% in the 4th quarter. New York State Teachers Retirement System now owns 18,282 shares of the company’s stock worth $1,087,000 after acquiring an additional 163 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its position in shares of DocuSign by 2.7% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,975 shares of the company’s stock valued at $415,000 after buying an additional 184 shares during the period. Whittier Trust Co. boosted its position in shares of DocuSign by 28.8% during the fourth quarter. Whittier Trust Co. now owns 935 shares of the company’s stock valued at $56,000 after buying an additional 209 shares during the period. Motley Fool Asset Management LLC raised its holdings in shares of DocuSign by 6.0% in the first quarter. Motley Fool Asset Management LLC now owns 3,960 shares of the company’s stock worth $236,000 after buying an additional 224 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of DocuSign by 0.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 83,899 shares of the company’s stock worth $4,617,000 after buying an additional 239 shares during the period. 77.64% of the stock is currently owned by institutional investors.

DocuSign Trading Up 1.5 %

DOCU opened at $53.50 on Monday. The company has a market cap of $10.95 billion, a price-to-earnings ratio of 102.89, a price-to-earnings-growth ratio of 4.32 and a beta of 0.89. The stock has a fifty day simple moving average of $55.65 and a two-hundred day simple moving average of $56.77. DocuSign has a 12-month low of $38.11 and a 12-month high of $64.76.

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.