UBS Group Has Lowered Expectations for DocuSign (NASDAQ:DOCU) Stock Price

DocuSign (NASDAQ:DOCU) had its price objective trimmed by UBS Group from $100.00 to $90.00 in a report issued on Friday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

DOCU has been the topic of several other research reports. Wells Fargo & Company upped their price target on DocuSign from $70.00 to $73.00 and gave the company an “underweight” rating in a research note on Friday. JMP Securities reissued a “market outperform” rating and set a $124.00 target price on shares of DocuSign in a research note on Tuesday, January 7th. HSBC reissued a “reduce” rating on shares of DocuSign in a research note on Friday, December 6th. Citigroup reissued a “buy” rating on shares of DocuSign in a research note on Thursday, March 6th. Finally, Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a research note on Friday. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $95.58.

DocuSign Stock Up 14.8 %

Shares of DocuSign stock opened at $85.76 on Friday. DocuSign has a 52 week low of $48.70 and a 52 week high of $107.86. The business’s fifty day simple moving average is $87.97 and its 200-day simple moving average is $79.22. The firm has a market cap of $17.33 billion, a PE ratio of 17.68, a price-to-earnings-growth ratio of 6.94 and a beta of 1.02.

DocuSign (NASDAQ:DOCU) last announced its quarterly earnings results on Thursday, March 13th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.84 by $0.02. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The business had revenue of $776.25 million for the quarter, compared to analyst estimates of $760.94 million. During the same quarter in the prior year, the company posted $0.76 EPS. The company’s quarterly revenue was up 9.0% on a year-over-year basis. As a group, equities analysts expect that DocuSign will post 1.17 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Blake Jeffrey Grayson sold 8,000 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $94.77, for a total value of $758,160.00. Following the transaction, the chief financial officer now owns 101,439 shares in the company, valued at approximately $9,613,374.03. This represents a 7.31 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Allan C. Thygesen sold 40,000 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 156,050 shares in the company, valued at approximately $14,050,742. The trade was a 20.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 104,422 shares of company stock worth $9,665,394 in the last quarter. 1.66% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Kestra Investment Management LLC purchased a new position in shares of DocuSign in the 4th quarter valued at about $30,000. First Horizon Advisors Inc. increased its holdings in shares of DocuSign by 102.6% in the 4th quarter. First Horizon Advisors Inc. now owns 397 shares of the company’s stock valued at $36,000 after acquiring an additional 201 shares during the last quarter. Modus Advisors LLC purchased a new position in shares of DocuSign in the 4th quarter valued at about $36,000. Wood Tarver Financial Group LLC purchased a new position in shares of DocuSign in the 4th quarter valued at about $37,000. Finally, McIlrath & Eck LLC increased its holdings in shares of DocuSign by 476.0% in the 4th quarter. McIlrath & Eck LLC now owns 432 shares of the company’s stock valued at $39,000 after acquiring an additional 357 shares during the last quarter. Hedge funds and other institutional investors 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.