DocuSign (NASDAQ:DOCU) Receives Market Outperform Rating from JMP Securities

DocuSign (NASDAQ:DOCU)‘s stock had its “market outperform” rating reiterated by investment analysts at JMP Securities in a research report issued on Tuesday,Benzinga reports. They currently have a $124.00 price target on the stock. JMP Securities’ price objective points to a potential upside of 41.21% from the company’s current price.

Several other brokerages have also weighed in on DOCU. Robert W. Baird increased their price objective on shares of DocuSign from $59.00 to $100.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. JPMorgan Chase & Co. lifted their price target on shares of DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a report on Tuesday, December 3rd. Piper Sandler upped their price objective on DocuSign from $60.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Jefferies Financial Group lifted their target price on DocuSign from $80.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Finally, Morgan Stanley boosted their price target on DocuSign from $62.00 to $97.00 and gave the company an “equal weight” rating in a research report on Friday, December 6th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $92.45.

DocuSign Stock Down 3.7 %

Shares of NASDAQ:DOCU traded down $3.35 during midday trading on Tuesday, reaching $87.81. The company’s stock had a trading volume of 327,380 shares, compared to its average volume of 1,400,509. The firm has a market cap of $17.74 billion, a price-to-earnings ratio of 18.11, a price-to-earnings-growth ratio of 8.72 and a beta of 0.88. The business has a 50 day moving average price of $85.63 and a 200 day moving average price of $68.04. DocuSign has a 1 year low of $48.70 and a 1 year high of $107.86.

Insider Transactions at DocuSign

In other DocuSign news, CEO Allan C. Thygesen sold 40,000 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $90.04, for a total value of $3,601,600.00. Following the transaction, the chief executive officer now owns 156,050 shares in the company, valued at approximately $14,050,742. This represents a 20.40 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel D. Springer sold 581,588 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $97.04, for a total transaction of $56,437,299.52. Following the transaction, the director now owns 906,430 shares in the company, valued at approximately $87,959,967.20. This represents a 39.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 700,589 shares of company stock valued at $66,829,120. Corporate insiders own 1.66% of the company’s stock.

Institutional Trading of DocuSign

A number of institutional investors have recently bought and sold shares of the company. Toronto Dominion Bank raised its stake in shares of DocuSign by 30.3% during the 3rd quarter. Toronto Dominion Bank now owns 26,159 shares of the company’s stock worth $1,624,000 after purchasing an additional 6,081 shares in the last quarter. Inspire Investing LLC bought a new position in DocuSign during the third quarter valued at approximately $911,000. Charles Schwab Investment Management Inc. lifted its stake in DocuSign by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,328,355 shares of the company’s stock valued at $82,478,000 after acquiring an additional 16,014 shares during the last quarter. International Assets Investment Management LLC grew its position in DocuSign by 5,660.8% in the third quarter. International Assets Investment Management LLC now owns 438,914 shares of the company’s stock worth $27,252,000 after acquiring an additional 431,295 shares in the last quarter. Finally, Quantinno Capital Management LP increased its stake in shares of DocuSign by 39.5% during the 3rd quarter. Quantinno Capital Management LP now owns 201,546 shares of the company’s stock worth $12,514,000 after purchasing an additional 57,104 shares during the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.

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.