Analysts Set DocuSign, Inc. (NASDAQ:DOCU) Target Price at $58.33

Shares of DocuSign, Inc. (NASDAQ:DOCUGet Free Report) have earned a consensus rating of “Reduce” from the ten research firms that are presently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $58.33.

DOCU has been the subject of several analyst reports. TheStreet raised DocuSign from a “d+” rating to a “c-” rating in a research note on Tuesday, December 19th. Piper Sandler reduced their target price on shares of DocuSign from $57.00 to $50.00 and set a “neutral” rating for the company in a research note on Friday, December 8th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $50.00 target price on shares of DocuSign in a report on Friday, January 12th. JPMorgan Chase & Co. cut their price target on shares of DocuSign from $50.00 to $45.00 and set an “underweight” rating on the stock in a report on Friday, December 8th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $84.00 price objective on shares of DocuSign in a research note on Monday, January 22nd.

Read Our Latest Stock Report on DocuSign

Insider Buying and Selling at DocuSign

In other news, CEO Allan C. Thygesen sold 7,680 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $61.27, for a total value of $470,553.60. Following the completion of the transaction, the chief executive officer now directly owns 111,767 shares in the company, valued at $6,847,964.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Allan C. Thygesen sold 7,680 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $61.27, for a total transaction of $470,553.60. Following the completion of the transaction, the chief executive officer now owns 111,767 shares of the company’s stock, valued at $6,847,964.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stephen Shute sold 15,109 shares of the stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $57.02, for a total transaction of $861,515.18. Following the completion of the transaction, the insider now directly owns 8,959 shares in the company, valued at approximately $510,842.18. The disclosure for this sale can be found here. Insiders sold 45,491 shares of company stock valued at $2,604,469 in the last quarter. 17.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Coatue Management LLC bought a new stake in DocuSign during the 4th quarter valued at $288,274,000. Capital World Investors boosted its holdings in shares of DocuSign by 128.3% during the first quarter. Capital World Investors now owns 5,683,838 shares of the company’s stock worth $608,853,000 after purchasing an additional 3,193,727 shares during the period. Vanguard Group Inc. grew its stake in shares of DocuSign by 20.3% in the first quarter. Vanguard Group Inc. now owns 17,308,877 shares of the company’s stock worth $1,854,127,000 after purchasing an additional 2,917,683 shares during the last quarter. Norges Bank purchased a new position in DocuSign during the 4th quarter valued at about $133,826,000. Finally, Price T Rowe Associates Inc. MD raised its position in DocuSign by 256.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,545,176 shares of the company’s stock valued at $148,384,000 after purchasing an additional 1,831,001 shares during the last quarter. 77.96% of the stock is owned by hedge funds and other institutional investors.

DocuSign Stock Down 0.7 %

Shares of DOCU opened at $58.27 on Friday. The business’s fifty day moving average is $56.16 and its 200 day moving average is $50.22. DocuSign has a 12-month low of $38.11 and a 12-month high of $64.76. The stock has a market cap of $11.88 billion, a P/E ratio of 161.87, a P/E/G ratio of 5.45 and a beta of 0.87.

About DocuSign

(Get Free Report

DocuSign, Inc provides electronic signature solution in the United States and internationally. The company provides DocuSign 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; and Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce.

Featured Stories

Analyst Recommendations for DocuSign (NASDAQ:DOCU)

Receive News & Ratings for DocuSign Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DocuSign and related companies with MarketBeat.com's FREE daily email newsletter.