DocuSign (NASDAQ:DOCU) Raised to Neutral at JPMorgan Chase & Co.

DocuSign (NASDAQ:DOCU) was upgraded by analysts at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a research note issued to investors on Monday, Marketbeat Ratings reports. The brokerage currently has a $75.00 price target on the stock, up from their previous price target of $70.00. JPMorgan Chase & Co.‘s price target indicates a potential downside of 5.66% from the company’s current price.

A number of other research firms have also issued reports on DOCU. Piper Sandler upped their target price on DocuSign from $60.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Wells Fargo & Company boosted their price target on DocuSign from $50.00 to $70.00 and gave the stock an “underweight” rating in a report on Friday, December 6th. Robert W. Baird increased their price objective on DocuSign from $59.00 to $100.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Citigroup boosted their target price on shares of DocuSign from $87.00 to $113.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Finally, Hsbc Global Res upgraded shares of DocuSign to a “moderate sell” rating in a report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $92.91.

DocuSign Trading Up 2.1 %

Shares of DOCU opened at $79.50 on Monday. DocuSign has a 12-month low of $48.70 and a 12-month high of $107.86. The stock has a market cap of $16.06 billion, a P/E ratio of 16.39, a PEG ratio of 6.94 and a beta of 1.02. The company has a 50-day moving average of $88.57 and a two-hundred day moving average of $79.06.

Insider Buying and Selling

In other DocuSign news, Director Teresa Briggs sold 534 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $94.60, for a total transaction of $50,516.40. Following the completion of the sale, the director now owns 7,736 shares of the company’s stock, valued at approximately $731,825.60. The trade was a 6.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Blake Jeffrey Grayson sold 8,000 shares of the firm’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $86.90, for a total value of $695,200.00. Following the completion of the transaction, the chief financial officer now owns 77,851 shares in the company, valued at approximately $6,765,251.90. This trade represents a 9.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 104,422 shares of company stock valued at $9,665,394. Insiders own 1.66% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of DOCU. Kestra Investment Management LLC purchased a new position in shares of DocuSign in the 4th quarter valued at $30,000. First Horizon Advisors Inc. raised its position in DocuSign by 102.6% in the fourth quarter. First Horizon Advisors Inc. now owns 397 shares of the company’s stock valued at $36,000 after purchasing an additional 201 shares during the period. Modus Advisors LLC purchased a new position in DocuSign in the fourth quarter valued at about $36,000. Wood Tarver Financial Group LLC acquired a new position in shares of DocuSign during the fourth quarter worth about $37,000. Finally, McIlrath & Eck LLC boosted its position in shares of DocuSign by 476.0% in the fourth quarter. McIlrath & Eck LLC now owns 432 shares of the company’s stock worth $39,000 after buying an additional 357 shares during the period. 77.64% of the stock is owned by institutional investors and hedge funds.

DocuSign Company Profile

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.