DocuSign’s (DOCU) “Market Outperform” Rating Reiterated at JMP Securities

JMP Securities restated their market outperform rating on shares of DocuSign (NASDAQ:DOCU) in a report issued on Tuesday,Benzinga reports. They currently have a $124.00 price target on the stock.

DOCU has been the subject of a number of other reports. Citigroup raised their price target on DocuSign from $87.00 to $113.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Jefferies Financial Group raised their price objective on shares of DocuSign from $80.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Wells Fargo & Company raised their price target on shares of DocuSign from $50.00 to $70.00 and gave the stock an “underweight” rating in a research note on Friday, December 6th. Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a report on Friday, December 6th. Finally, Hsbc Global Res upgraded shares of DocuSign to a “moderate sell” rating in a research note on Friday, December 6th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, DocuSign currently has a consensus rating of “Hold” and an average price target of $92.45.

DocuSign Stock Up 1.4 %

Shares of DocuSign stock opened at $89.51 on Tuesday. The firm has a market cap of $18.08 billion, a price-to-earnings ratio of 18.46, a PEG ratio of 8.72 and a beta of 0.88. DocuSign has a twelve month low of $48.70 and a twelve month high of $107.86. The business has a 50-day moving average price of $86.80 and a 200-day moving average price of $68.58.

Insider Buying and Selling

In other news, CFO Blake Jeffrey Grayson sold 9,552 shares of DocuSign stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $68.80, for a total transaction of $657,177.60. Following the transaction, the chief financial officer now owns 78,265 shares in the company, valued at $5,384,632. The trade was a 10.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Daniel D. Springer sold 581,588 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $97.04, for a total transaction of $56,437,299.52. Following the completion of the sale, the director now directly owns 906,430 shares of the company’s stock, valued at $87,959,967.20. This represents a 39.08 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 693,089 shares of company stock worth $66,320,395. Insiders own 1.66% of the company’s stock.

Hedge Funds Weigh In On DocuSign

Several institutional investors and hedge funds have recently bought and sold shares of DOCU. Itau Unibanco Holding S.A. purchased a new stake in DocuSign in the 3rd quarter valued at about $28,000. Brooklyn Investment Group acquired a new position in shares of DocuSign in the 3rd quarter worth approximately $33,000. Modus Advisors LLC purchased a new position in shares of DocuSign during the 4th quarter worth approximately $36,000. Reston Wealth Management LLC acquired a new stake in DocuSign in the 3rd quarter valued at approximately $47,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in DocuSign in the third quarter valued at approximately $51,000. 77.64% of the stock is currently owned by institutional investors and hedge funds.

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.