DocuSign (NASDAQ:DOCU) Given Hold Rating at Needham & Company LLC

DocuSign (NASDAQ:DOCU)‘s stock had its “hold” rating restated by investment analysts at Needham & Company LLC in a research note issued on Friday,Benzinga reports.

A number of other analysts have also recently commented on DOCU. Jefferies Financial Group boosted their price objective on DocuSign from $80.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday. Citigroup upped their price objective on shares of DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. JPMorgan Chase & Co. lifted their target price on shares of DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a research report on Tuesday. JMP Securities boosted their target price on shares of DocuSign from $84.00 to $108.00 and gave the stock a “market outperform” rating in a research note on Friday, November 22nd. Finally, Robert W. Baird raised their price target on shares of DocuSign from $59.00 to $100.00 and gave the company a “neutral” rating in a research note on Friday. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, DocuSign has a consensus rating of “Hold” and a consensus target price of $74.45.

DocuSign Price Performance

DOCU opened at $83.68 on Friday. The firm has a fifty day moving average price of $73.75 and a 200 day moving average price of $61.68. DocuSign has a 1 year low of $44.34 and a 1 year high of $86.75. The stock has a market cap of $16.98 billion, a P/E ratio of 17.65, a P/E/G ratio of 8.33 and a beta of 0.92.

DocuSign (NASDAQ:DOCU) last posted its earnings results on Thursday, September 5th. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.17. The firm had revenue of $736.03 million for the quarter, compared to analysts’ expectations of $727.20 million. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. The company’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period last year, the firm earned $0.09 EPS. Equities analysts expect that DocuSign will post 1.03 EPS for the current year.

Insider Transactions at DocuSign

In related news, insider Robert Chatwani sold 14,799 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $55.46, for a total value of $820,752.54. Following the completion of the sale, the insider now owns 70,748 shares of the company’s stock, valued at approximately $3,923,684.08. This represents a 17.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Teresa Briggs sold 534 shares of DocuSign stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $56.56, for a total transaction of $30,203.04. Following the transaction, the director now directly owns 7,202 shares in the company, valued at $407,345.12. This trade represents a 6.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 69,596 shares of company stock worth $4,441,529 in the last ninety days. Insiders own 1.66% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Thrivent Financial for Lutherans purchased a new stake in DocuSign in the second quarter valued at $115,795,000. Pacer Advisors Inc. increased its position in shares of DocuSign by 77.9% during the 2nd quarter. Pacer Advisors Inc. now owns 3,519,969 shares of the company’s stock worth $188,318,000 after purchasing an additional 1,541,816 shares during the last quarter. KBC Group NV raised its holdings in DocuSign by 209.8% in the 3rd quarter. KBC Group NV now owns 1,156,874 shares of the company’s stock valued at $71,830,000 after buying an additional 783,419 shares during the period. Renaissance Technologies LLC lifted its position in DocuSign by 18.3% in the second quarter. Renaissance Technologies LLC now owns 3,729,314 shares of the company’s stock valued at $199,518,000 after buying an additional 576,414 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ boosted its stake in DocuSign by 151.3% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 865,872 shares of the company’s stock worth $46,324,000 after buying an additional 521,292 shares during the period. 77.64% of the stock is currently 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.