DocuSign, Inc. (NASDAQ:DOCU – Get Free Report) gapped down before the market opened on Tuesday after Wells Fargo & Company lowered their price target on the stock from $55.00 to $45.00. The stock had previously closed at $53.21, but opened at $49.86. Wells Fargo & Company currently has an underweight rating on the stock. DocuSign shares last traded at $50.18, with a volume of 2,803,620 shares traded.
A number of other equities research analysts also recently commented on the company. Royal Bank of Canada restated a “sector perform” rating and issued a $50.00 target price on shares of DocuSign in a research report on Friday, January 12th. JMP Securities reissued a “market outperform” rating and set a $84.00 target price on shares of DocuSign in a research note on Monday, January 22nd. Morgan Stanley raised DocuSign from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $49.00 to $64.00 in a report on Tuesday, January 16th. Piper Sandler reduced their target price on DocuSign from $57.00 to $50.00 and set a “neutral” rating for the company in a report on Friday, December 8th. Finally, TheStreet raised DocuSign from a “d+” rating to a “c-” rating in a report on Tuesday, December 19th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $60.00.
Insider Activity at DocuSign
In related news, CEO Allan C. Thygesen sold 92,750 shares of the stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $61.31, for a total value of $5,686,502.50. Following the completion of the sale, the chief executive officer now directly owns 126,867 shares in the company, valued at approximately $7,778,215.77. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Allan C. Thygesen sold 92,750 shares of the stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $61.31, for a total value of $5,686,502.50. Following the completion of the sale, the chief executive officer now directly owns 126,867 shares in the company, valued at approximately $7,778,215.77. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider James P. Shaughnessy sold 1,800 shares of the stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $54.04, for a total value of $97,272.00. Following the completion of the sale, the insider now owns 33,617 shares of the company’s stock, valued at $1,816,662.68. The disclosure for this sale can be found here. In the last three months, insiders sold 137,292 shares of company stock worth $8,339,988. Corporate insiders own 17.80% of the company’s stock.
Institutional Trading of DocuSign
Several large investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in DocuSign by 2.4% in the third quarter. Vanguard Group Inc. now owns 20,982,387 shares of the company’s stock worth $881,260,000 after purchasing an additional 482,472 shares in the last quarter. Capital World Investors grew its position in DocuSign by 128.3% in the first quarter. Capital World Investors now owns 5,683,838 shares of the company’s stock worth $608,853,000 after buying an additional 3,193,727 shares during the last quarter. Capital International Investors grew its position in DocuSign by 0.5% in the second quarter. Capital International Investors now owns 4,574,429 shares of the company’s stock worth $233,708,000 after buying an additional 23,359 shares during the last quarter. Newlands Management Operations LLC grew its position in DocuSign by 72.5% during the 2nd quarter. Newlands Management Operations LLC now owns 4,122,708 shares of the company’s stock worth $210,629,000 after purchasing an additional 1,732,574 shares in the last quarter. Finally, Morgan Stanley boosted its stake in shares of DocuSign by 1.7% during the 3rd quarter. Morgan Stanley now owns 3,219,450 shares of the company’s stock valued at $135,217,000 after buying an additional 53,553 shares during the period. 77.96% of the stock is currently owned by institutional investors and hedge funds.
DocuSign Stock Performance
The firm has a market cap of $10.46 billion, a price-to-earnings ratio of 212.85, a price-to-earnings-growth ratio of 7.60 and a beta of 0.93. The firm’s 50 day moving average is $57.13 and its 200-day moving average is $49.37.
DocuSign (NASDAQ:DOCU – Get Free Report) last released its earnings results on Thursday, December 7th. The company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.16. DocuSign had a net margin of 1.90% and a return on equity of 14.06%. The firm had revenue of $700.42 million during the quarter, compared to analyst estimates of $690.27 million. During the same quarter in the previous year, the business earned $0.05 EPS. The business’s revenue was up 8.5% on a year-over-year basis. As a group, research analysts predict that DocuSign, Inc. will post 0.57 EPS for the current year.
DocuSign Company Profile
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.