DocuSign (NASDAQ:DOCU) Hits New 1-Year High – Here’s What Happened

DocuSign, Inc. (NASDAQ:DOCU) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as $74.42 and last traded at $73.98, with a volume of 69148 shares changing hands. The stock had previously closed at $72.25.

Wall Street Analysts Forecast Growth

Several research firms have commented on DOCU. Wells Fargo & Company upped their price objective on DocuSign from $48.00 to $50.00 and gave the company an “underweight” rating in a research note on Friday, September 6th. Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a research report on Friday, September 6th. Bank of America boosted their target price on DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Royal Bank of Canada boosted their target price on DocuSign from $52.00 to $57.00 and gave the stock a “sector perform” rating in a research report on Friday, September 6th. Finally, Citigroup boosted their target price on DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $63.40.

DocuSign Stock Performance

The business has a fifty day simple moving average of $63.65 and a 200 day simple moving average of $58.24. The stock has a market cap of $15.29 billion, a price-to-earnings ratio of 15.79, a PEG ratio of 7.52 and a beta of 0.90.

DocuSign (NASDAQ:DOCU) last issued its quarterly earnings results on Thursday, September 5th. The company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.17. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. The company had revenue of $736.03 million for the quarter, compared to analyst estimates of $727.20 million. During the same quarter in the prior year, the company posted $0.09 EPS. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. On average, equities research analysts anticipate that DocuSign, Inc. will post 1.01 EPS for the current fiscal year.

Insiders Place Their Bets

In other DocuSign news, CEO Allan C. Thygesen sold 7,725 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $59.09, for a total transaction of $456,470.25. Following the transaction, the chief executive officer now owns 102,193 shares of the company’s stock, valued at $6,038,584.37. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, CEO Allan C. Thygesen sold 7,725 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $59.09, for a total value of $456,470.25. Following the completion of the sale, the chief executive officer now directly owns 102,193 shares in the company, valued at approximately $6,038,584.37. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert Chatwani sold 14,799 shares of the stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $55.46, for a total value of $820,752.54. Following the completion of the sale, the insider now owns 70,748 shares of the company’s stock, valued at approximately $3,923,684.08. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 69,558 shares of company stock valued at $4,272,768 in the last quarter. 1.66% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On DocuSign

Hedge funds have recently bought and sold shares of the company. J.W. Cole Advisors Inc. lifted its holdings in DocuSign by 2.0% in the third quarter. J.W. Cole Advisors Inc. now owns 7,946 shares of the company’s stock worth $493,000 after acquiring an additional 155 shares during the last quarter. Resonant Capital Advisors LLC lifted its holdings in DocuSign by 0.9% in the third quarter. Resonant Capital Advisors LLC now owns 17,516 shares of the company’s stock worth $1,088,000 after acquiring an additional 157 shares during the last quarter. V Square Quantitative Management LLC lifted its holdings in DocuSign by 6.0% in the third quarter. V Square Quantitative Management LLC now owns 3,019 shares of the company’s stock worth $187,000 after acquiring an additional 172 shares during the last quarter. Dakota Wealth Management lifted its holdings in DocuSign by 0.8% in the second quarter. Dakota Wealth Management now owns 23,022 shares of the company’s stock worth $1,232,000 after acquiring an additional 181 shares during the last quarter. Finally, Covestor Ltd raised its holdings in shares of DocuSign by 5.8% during the third quarter. Covestor Ltd now owns 3,306 shares of the company’s stock valued at $205,000 after buying an additional 182 shares during the last quarter. 77.64% of the stock is currently owned by institutional investors and hedge funds.

About DocuSign

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