DocuSign (NASDAQ:DOCU – Get Rating) had its price objective decreased by research analysts at Bank of America from $72.00 to $68.00 in a research report issued on Friday, The Fly reports. Bank of America‘s price target would indicate a potential upside of 36.85% from the company’s previous close.
Several other research firms have also issued reports on DOCU. Royal Bank of Canada upped their price target on shares of DocuSign from $53.00 to $59.00 in a research report on Friday. Robert W. Baird upped their price target on shares of DocuSign from $50.00 to $70.00 in a research report on Friday. Piper Sandler dropped their price target on shares of DocuSign from $65.00 to $60.00 in a research report on Friday. Wolfe Research raised shares of DocuSign from an “underperform” rating to a “peer perform” rating in a research report on Thursday, February 23rd. Finally, Citigroup increased their price objective on shares of DocuSign from $72.00 to $82.00 and gave the company a “buy” rating in a research report on Thursday. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $62.57.
DocuSign Stock Performance
Shares of DOCU stock opened at $49.69 on Friday. The company’s fifty day simple moving average is $60.44 and its 200-day simple moving average is $54.45. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.46. The firm has a market cap of $9.99 billion, a PE ratio of -101.41, a P/E/G ratio of 129.74 and a beta of 1.00. DocuSign has a 12 month low of $39.57 and a 12 month high of $113.67.
Insiders Place Their Bets
In other DocuSign news, Director Daniel D. Springer sold 147,008 shares of the stock in a transaction dated Thursday, January 19th. The shares were 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Daniel D. Springer sold 147,008 shares of the firm’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 sale, the director now directly owns 1,225,714 shares in the company, valued at approximately $67,512,327.12. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Daniel D. Springer sold 147,009 shares of the firm’s stock in a transaction that occurred 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 owns 1,524,335 shares in the company, valued at $89,143,110.80. The disclosure for this sale can be found here. Corporate insiders own 2.55% of the company’s stock.
Institutional Investors Weigh In On DocuSign
A number of hedge funds have recently made changes to their positions in the stock. MAI Capital Management boosted its stake in shares of DocuSign by 1.0% in the 4th quarter. MAI Capital Management now owns 16,417 shares of the company’s stock valued at $910,000 after purchasing an additional 157 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its holdings in DocuSign by 1.9% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 8,965 shares of the company’s stock valued at $514,000 after buying an additional 164 shares during the last quarter. Integrated Wealth Concepts LLC raised its holdings in DocuSign by 3.8% in the 4th quarter. Integrated Wealth Concepts LLC now owns 5,009 shares of the company’s stock valued at $278,000 after buying an additional 182 shares during the last quarter. Acorn Financial Advisory Services Inc. ADV raised its holdings in DocuSign by 1.5% in the 4th quarter. Acorn Financial Advisory Services Inc. ADV now owns 13,233 shares of the company’s stock valued at $733,000 after buying an additional 196 shares during the last quarter. Finally, FineMark National Bank & Trust raised its holdings in DocuSign by 4.8% in the 3rd quarter. FineMark National Bank & Trust now owns 4,330 shares of the company’s stock valued at $231,000 after buying an additional 200 shares during the last quarter. 76.18% of the stock is currently owned by institutional investors and hedge funds.
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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