DocuSign (NASDAQ:DOCU) Price Target Lowered to $105.00 at Jefferies Financial Group

DocuSign (NASDAQ:DOCU) had its target price trimmed by Jefferies Financial Group from $115.00 to $105.00 in a report issued on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other analysts have also issued reports about the stock. Bank of America decreased their price target on shares of DocuSign from $112.00 to $98.00 and set a “neutral” rating for the company in a research report on Friday, March 14th. JMP Securities reissued a “market outperform” rating and set a $124.00 target price on shares of DocuSign in a research report on Tuesday, January 7th. Morgan Stanley lifted their price target on shares of DocuSign from $62.00 to $97.00 and gave the stock an “equal weight” rating in a report on Friday, December 6th. Hsbc Global Res raised DocuSign to a “moderate sell” rating in a research report on Friday, December 6th. Finally, Wells Fargo & Company raised their price objective on DocuSign from $70.00 to $73.00 and gave the stock an “underweight” rating in a research report on Friday, March 14th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $95.83.

DocuSign Stock Down 2.1 %

Shares of NASDAQ:DOCU opened at $81.40 on Monday. The firm has a 50 day moving average of $87.01 and a 200 day moving average of $81.71. The company has a market capitalization of $16.48 billion, a price-to-earnings ratio of 16.78, a price-to-earnings-growth ratio of 6.94 and a beta of 1.02. DocuSign has a 52 week low of $48.70 and a 52 week high of $107.86.

DocuSign (NASDAQ:DOCU) last released its quarterly earnings results on Thursday, March 13th. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.84 by $0.02. The firm had revenue of $776.25 million during the quarter, compared to analyst estimates of $760.94 million. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. During the same period in the previous year, the company posted $0.76 EPS. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. On average, sell-side analysts expect that DocuSign will post 1.17 EPS for the current year.

Insider Buying and Selling at DocuSign

In other DocuSign news, Director Teresa Briggs sold 534 shares of DocuSign stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $87.41, for a total transaction of $46,676.94. Following the completion of the sale, the director now directly owns 8,270 shares in the company, valued at approximately $722,880.70. The trade was a 6.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Allan C. Thygesen sold 40,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $90.04, for a total transaction of $3,601,600.00. Following the transaction, the chief executive officer now directly owns 156,050 shares of the company’s stock, valued at approximately $14,050,742. This trade represents a 20.40 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 97,851 shares of company stock worth $8,579,369. 1.66% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Toronto Dominion Bank increased its holdings in shares of DocuSign by 30.3% during the 3rd quarter. Toronto Dominion Bank now owns 26,159 shares of the company’s stock valued at $1,624,000 after purchasing an additional 6,081 shares in the last quarter. Quantinno Capital Management LP grew its position in DocuSign by 39.5% during the third quarter. Quantinno Capital Management LP now owns 201,546 shares of the company’s stock valued at $12,514,000 after buying an additional 57,104 shares during the period. Rhumbline Advisers increased its holdings in DocuSign by 118.8% in the fourth quarter. Rhumbline Advisers now owns 608,123 shares of the company’s stock valued at $54,695,000 after buying an additional 330,136 shares in the last quarter. KBC Group NV raised its position in shares of DocuSign by 32.7% in the fourth quarter. KBC Group NV now owns 1,535,107 shares of the company’s stock worth $138,067,000 after acquiring an additional 378,233 shares during the period. Finally, Jennison Associates LLC purchased a new stake in shares of DocuSign during the 4th quarter worth about $12,897,000. 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.