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

DocuSign (NASDAQ:DOCU) was upgraded by investment analysts at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a note issued to investors on Monday,Briefing.com Automated Import reports. The brokerage currently has a $75.00 target price on the stock, up from their prior target price of $70.00. JPMorgan Chase & Co.‘s price target indicates a potential downside of 6.05% from the stock’s current price.

Several other equities research analysts have also commented on the company. Royal Bank of Canada restated a “sector perform” rating and issued a $90.00 price objective (up previously from $57.00) on shares of DocuSign in a research report on Friday, December 6th. Jefferies Financial Group increased their price target on shares of DocuSign from $80.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Robert W. Baird lifted their price objective on shares of DocuSign from $59.00 to $100.00 and gave the company a “neutral” rating in a report on Friday, December 6th. UBS Group upped their price objective on shares of DocuSign from $60.00 to $100.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Finally, Citigroup raised 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. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $92.91.

DocuSign Stock Up 0.1 %

Shares of DOCU opened at $79.83 on Monday. The company has a market capitalization of $16.13 billion, a price-to-earnings ratio of 16.46, a PEG 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. The stock’s 50-day moving average price is $89.05 and its 200-day moving average price is $78.75.

Insider Activity

In other DocuSign news, Director Daniel D. Springer sold 581,588 shares of the company’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $97.04, for a total value of $56,437,299.52. Following the completion of the sale, the director now directly owns 906,430 shares in the company, valued at $87,959,967.20. This represents a 39.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Blake Jeffrey Grayson sold 8,000 shares of DocuSign 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 transaction, the chief financial officer now owns 77,851 shares in the company, valued at approximately $6,765,251.90. This represents a 9.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 686,010 shares of company stock worth $66,102,694 over the last three months. Insiders own 1.66% of the company’s stock.

Institutional Trading of DocuSign

Hedge funds have recently made changes to their positions in the company. Toronto Dominion Bank grew its position in DocuSign by 30.3% in the third quarter. Toronto Dominion Bank now owns 26,159 shares of the company’s stock worth $1,624,000 after acquiring an additional 6,081 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of DocuSign by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,328,355 shares of the company’s stock valued at $82,478,000 after purchasing an additional 16,014 shares during the last quarter. Quantinno Capital Management LP grew its holdings 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 period. Rhumbline Advisers increased its position in shares of DocuSign by 118.8% during the 4th quarter. Rhumbline Advisers now owns 608,123 shares of the company’s stock worth $54,695,000 after purchasing an additional 330,136 shares during the last quarter. Finally, KBC Group NV raised its holdings in DocuSign by 32.7% in the 4th quarter. KBC Group NV now owns 1,535,107 shares of the company’s stock valued at $138,067,000 after buying an additional 378,233 shares during the period. Hedge funds and other institutional investors own 77.64% of the company’s stock.

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.