Analysts Set DocuSign, Inc. (NASDAQ:DOCU) PT at $92.45

Shares of DocuSign, Inc. (NASDAQ:DOCU) have been assigned a consensus recommendation of “Hold” from the thirteen ratings firms that are covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $92.45.

DOCU has been the subject of several research reports. Morgan Stanley raised their target price on DocuSign from $62.00 to $97.00 and gave the company an “equal weight” rating in a research note on Friday, December 6th. Piper Sandler raised their price objective on shares of DocuSign from $60.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $90.00 target price (up from $57.00) on shares of DocuSign in a report on Friday, December 6th. UBS Group raised their target price on shares of DocuSign from $60.00 to $100.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Finally, Wells Fargo & Company upped their price target on DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a report on Friday, December 6th.

DocuSign Stock Performance

Shares of NASDAQ DOCU opened at $93.85 on Tuesday. DocuSign has a 1 year low of $48.70 and a 1 year high of $107.86. The firm has a market cap of $18.96 billion, a P/E ratio of 19.35, a PEG ratio of 8.74 and a beta of 0.89. The stock has a fifty day moving average price of $92.10 and a two-hundred day moving average price of $73.83.

Insider Activity

In related news, CEO Allan C. Thygesen sold 7,763 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $80.54, for a total value of $625,232.02. Following the completion of the sale, the chief executive officer now directly owns 100,062 shares in the company, valued at approximately $8,058,993.48. This represents a 7.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Peter Solvik sold 10,000 shares of the firm’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $91.26, for a total value of $912,600.00. Following the transaction, the director now owns 150,253 shares in the company, valued at approximately $13,712,088.78. This trade represents a 6.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 685,773 shares of company stock worth $66,032,726 in the last ninety days. Corporate insiders own 1.66% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in DOCU. Synergy Financial Group LTD boosted its position in DocuSign by 3.4% during the fourth quarter. Synergy Financial Group LTD now owns 4,241 shares of the company’s stock worth $381,000 after purchasing an additional 140 shares during the period. M&T Bank Corp lifted its stake in shares of DocuSign by 1.3% in the fourth quarter. M&T Bank Corp now owns 10,840 shares of the company’s stock worth $975,000 after buying an additional 143 shares during the last quarter. Avior Wealth Management LLC boosted its holdings in shares of DocuSign by 36.5% during the 4th quarter. Avior Wealth Management LLC now owns 542 shares of the company’s stock worth $49,000 after buying an additional 145 shares during the period. Linden Thomas Advisory Services LLC grew its stake in DocuSign by 1.1% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 13,540 shares of the company’s stock valued at $1,218,000 after buying an additional 149 shares during the last quarter. Finally, J.W. Cole Advisors Inc. raised its holdings in DocuSign by 2.0% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 7,946 shares of the company’s stock worth $493,000 after acquiring an additional 155 shares during the period. 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.