DocuSign, Inc. (NASDAQ:DOCU) Receives $92.45 Consensus Price Target from Brokerages

DocuSign, Inc. (NASDAQ:DOCU) has earned an average recommendation of “Hold” from the thirteen brokerages that are presently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among analysts that have covered the stock in the last year is $92.45.

Several research firms have commented on DOCU. Wells Fargo & Company upped their price objective on shares of DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a report on Friday, December 6th. Morgan Stanley increased their price target on shares of DocuSign from $62.00 to $97.00 and gave the company an “equal weight” rating in a report on Friday, December 6th. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a research report on Tuesday, February 4th. Citigroup upped their target price on DocuSign from $87.00 to $113.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Finally, UBS Group lifted their price target on DocuSign from $60.00 to $100.00 and gave the stock a “neutral” rating in a report on Friday, December 6th.

DocuSign Trading Down 1.8 %

DOCU stock opened at $81.70 on Friday. DocuSign has a 1-year low of $48.70 and a 1-year high of $107.86. The business’s 50 day simple moving average is $90.14 and its 200 day simple moving average is $78.07. The firm has a market capitalization of $16.51 billion, a PE ratio of 16.85, a PEG ratio of 6.94 and a beta of 0.89.

Insiders Place Their Bets

In other DocuSign news, CFO Blake Jeffrey Grayson sold 8,000 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $86.90, for a total value of $695,200.00. Following the sale, the chief financial officer now owns 77,851 shares of the company’s stock, valued at approximately $6,765,251.90. This trade represents a 9.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Teresa Briggs sold 534 shares of DocuSign stock in a transaction on Monday, December 16th. The shares were sold at an average price of $94.60, for a total value of $50,516.40. Following the completion of the transaction, the director now owns 7,736 shares in the company, valued at approximately $731,825.60. The trade was a 6.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 686,010 shares of company stock worth $66,102,694 over the last ninety days. Corporate insiders own 1.66% of the company’s stock.

Institutional Trading of DocuSign

Several large investors have recently bought and sold shares of the business. Creative Planning increased its holdings in shares of DocuSign by 5.6% during the third quarter. Creative Planning now owns 14,453 shares of the company’s stock worth $897,000 after buying an additional 766 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in DocuSign by 13.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,466 shares of the company’s stock valued at $214,000 after buying an additional 413 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in DocuSign by 77.8% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 14,603 shares of the company’s stock worth $907,000 after purchasing an additional 6,390 shares during the period. Nisa Investment Advisors LLC bought a new stake in DocuSign in the third quarter worth approximately $1,503,000. Finally, Pallas Capital Advisors LLC acquired a new position in DocuSign in the third quarter valued at approximately $371,000. 77.64% of the stock is 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.