DocuSign, Inc. (NASDAQ:DOCU – Get Rating)’s stock price gapped down before the market opened on Friday after Bank of America lowered their price target on the stock from $72.00 to $68.00. The stock had previously closed at $64.41, but opened at $53.71. DocuSign shares last traded at $51.38, with a volume of 5,379,802 shares.

Several other research firms have also recently issued reports on DOCU. Wolfe Research raised DocuSign from an “underperform” rating to a “peer perform” rating in a research report on Thursday, February 23rd. JPMorgan Chase & Co. lowered DocuSign from a “neutral” rating to an “underweight” rating and lowered their price target for the stock from $58.00 to $48.00 in a report on Friday. UBS Group cut shares of DocuSign from a “neutral” rating to a “sell” rating and set a $52.00 price objective on the stock. in a research note on Tuesday, February 21st. Wells Fargo & Company reduced their target price on DocuSign from $65.00 to $60.00 in a report on Friday. Finally, Jefferies Financial Group upped their price target on DocuSign from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Tuesday. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, DocuSign currently has an average rating of “Hold” and a consensus price target of $62.57.

Insider Activity at DocuSign

In other news, Director Daniel D. Springer sold 147,008 shares of the company’s stock in a transaction that occurred on Thursday, January 19th. The stock was sold at an average price of $55.08, for a total value of $8,097,200.64. Following the transaction, the director now owns 1,225,714 shares of the company’s stock, valued at $67,512,327.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Daniel D. Springer sold 147,008 shares of the business’s stock in a transaction dated Thursday, January 19th. The stock was sold at an average price of $55.08, for a total transaction of $8,097,200.64. Following the sale, the director now directly owns 1,225,714 shares in the company, valued at $67,512,327.12. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Daniel D. Springer sold 147,009 shares of the company’s stock in a transaction on Tuesday, January 17th. The shares were sold at an average price of $58.48, for a total transaction of $8,597,086.32. Following the completion of the sale, the director now directly owns 1,524,335 shares in the company, valued at $89,143,110.80. The disclosure for this sale can be found here. 2.55% of the stock is owned by company insiders.

Institutional Trading of DocuSign

A number of large investors have recently bought and sold shares of DOCU. MetLife Investment Management LLC bought a new stake in shares of DocuSign in the 1st quarter valued at about $1,337,000. Raymond James Trust N.A. lifted its position in DocuSign by 27.3% during the first quarter. Raymond James Trust N.A. now owns 4,206 shares of the company’s stock valued at $450,000 after buying an additional 901 shares during the period. Sei Investments Co. boosted its stake in DocuSign by 21.8% during the first quarter. Sei Investments Co. now owns 177,214 shares of the company’s stock worth $18,934,000 after acquiring an additional 31,769 shares in the last quarter. National Pension Service boosted its position in shares of DocuSign by 25.9% in the 1st quarter. National Pension Service now owns 347,633 shares of the company’s stock worth $37,238,000 after purchasing an additional 71,449 shares in the last quarter. Finally, 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 acquiring an additional 2,917,683 shares during the last quarter. 76.18% of the stock is owned by hedge funds and other institutional investors.

DocuSign Stock Performance

The firm has a market capitalization of $10.51 billion, a P/E ratio of -79.36, a price-to-earnings-growth ratio of 132.26 and a beta of 1.00. The business’s 50 day simple moving average is $60.56 and its two-hundred day simple moving average is $54.59. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.46.

DocuSign (NASDAQ:DOCU – Get Rating) last released its quarterly earnings results on Thursday, December 8th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.13. DocuSign had a negative return on equity of 18.86% and a negative net margin of 5.45%. The firm had revenue of $645.46 million for the quarter, compared to the consensus estimate of $626.07 million. Sell-side analysts anticipate that DocuSign, Inc. will post -0.1 EPS for the current fiscal year.

DocuSign Company Profile

DocuSign, Inc provides cloud-based electronic signature solutions. Its cloud based electronic signature platform helps companies and individuals securely collect information, automate data workflows and sign anything. The firm automates manual, paper-based processes allowing users to manage all aspects of documented business transactions including identity management, authentication, digital signature, forms and data collection, collaboration, workflow automation and storage.