DocuSign (NASDAQ:DOCU – Get Rating) had its price target cut by research analysts at Wells Fargo & Company from $65.00 to $60.00 in a research report issued to clients and investors on Friday, The Fly reports. Wells Fargo & Company‘s price objective suggests a potential upside of 20.75% from the company’s current price.
Other equities research analysts also recently issued reports about the company. Bank of America lowered their price target on DocuSign from $80.00 to $65.00 in a research report on Friday, December 9th. Robert W. Baird lifted their target price on DocuSign from $50.00 to $70.00 in a research report on Friday. Citigroup lifted their target price on DocuSign from $72.00 to $82.00 and gave the stock a “buy” rating in a research report on Thursday. Jefferies Financial Group lifted their target price on DocuSign from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, March 7th. Finally, UBS Group downgraded DocuSign from a “neutral” rating to a “sell” rating and set a $52.00 target price on the stock. in a research report on Tuesday, February 21st. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, DocuSign currently has a consensus rating of “Hold” and a consensus target price of $62.57.
DocuSign Trading Down 22.9 %
Shares of NASDAQ:DOCU opened at $49.69 on Friday. The company has a market cap of $9.99 billion, a P/E ratio of -101.41, a P/E/G ratio of 129.74 and a beta of 1.00. The stock’s 50-day moving average is $60.44 and its 200-day moving average is $54.45. DocuSign has a 52-week low of $39.57 and a 52-week high of $113.67. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.02 and a current ratio of 1.02.
Insider Activity
In other news, Director Daniel D. Springer sold 147,009 shares of DocuSign stock in a transaction that occurred on Tuesday, January 17th. The shares were sold at an average price of $58.48, for a total value of $8,597,086.32. Following the completion of the transaction, the director now owns 1,524,335 shares in the company, valued at $89,143,110.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Daniel D. Springer sold 147,008 shares of the business’s stock in a transaction that occurred on Thursday, January 19th. The shares were sold at an average price of $55.08, for a total value of $8,097,200.64. Following the completion of the transaction, the director now owns 1,225,714 shares in the company, valued at approximately $67,512,327.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel D. Springer sold 147,009 shares of the business’s stock in a transaction that occurred on Tuesday, January 17th. The stock was sold at an average price of $58.48, for a total transaction of $8,597,086.32. Following the completion of the transaction, the director now owns 1,524,335 shares of the company’s stock, valued at approximately $89,143,110.80. The disclosure for this sale can be found here. 2.55% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the stock. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its position in DocuSign by 440.0% in the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 270 shares of the company’s stock worth $28,000 after purchasing an additional 220 shares during the last quarter. Ronald Blue Trust Inc. bought a new stake in shares of DocuSign during the 2nd quarter valued at $42,000. Evermay Wealth Management LLC bought a new stake in shares of DocuSign during the 4th quarter valued at $28,000. Whittier Trust Co. bought a new stake in shares of DocuSign during the 3rd quarter valued at $30,000. Finally, CI Investments Inc. raised its position in shares of DocuSign by 115.5% during the 4th quarter. CI Investments Inc. now owns 556 shares of the company’s stock valued at $31,000 after acquiring an additional 298 shares during the last quarter. Institutional investors own 76.18% of the company’s stock.
About DocuSign
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.
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