DocuSign (NASDAQ:DOCU) Receives “Hold” Rating from Needham & Company LLC

DocuSign (NASDAQ:DOCU)‘s stock had its “hold” rating reaffirmed by research analysts at Needham & Company LLC in a note issued to investors on Tuesday,Benzinga reports.

Several other equities research analysts also recently issued reports on the company. JPMorgan Chase & Co. upped their price target on DocuSign from $50.00 to $70.00 and gave the stock an “underweight” rating in a report on Tuesday, December 3rd. Piper Sandler upped their price target on DocuSign from $60.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Robert W. Baird increased their target price on DocuSign from $59.00 to $100.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. HSBC restated a “reduce” rating on shares of DocuSign in a research report on Friday, December 6th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $90.00 price objective (up from $57.00) on shares of DocuSign in a research report on Friday, December 6th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $92.45.

DocuSign Trading Down 0.3 %

NASDAQ:DOCU traded down $0.28 during mid-day trading on Tuesday, hitting $96.22. 341,281 shares of the company’s stock were exchanged, compared to its average volume of 2,071,183. DocuSign has a fifty-two week low of $48.70 and a fifty-two week high of $107.86. The firm has a market capitalization of $19.44 billion, a P/E ratio of 19.81, a PEG ratio of 8.74 and a beta of 0.89. The company has a 50 day simple moving average of $91.32 and a 200-day simple moving average of $73.08.

Insider Buying and Selling

In other news, CEO Allan C. Thygesen sold 7,763 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $80.54, for a total value of $625,232.02. Following the transaction, the chief executive officer now owns 100,062 shares of the company’s stock, valued at approximately $8,058,993.48. The trade was a 7.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Teresa Briggs sold 534 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $94.60, for a total transaction of $50,516.40. Following the transaction, the director now owns 7,736 shares of the company’s stock, valued at approximately $731,825.60. This represents a 6.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 685,773 shares of company stock valued at $66,032,726 over the last 90 days. Company insiders own 1.66% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of DOCU. KBC Group NV increased its stake in DocuSign by 209.8% in the 3rd quarter. KBC Group NV now owns 1,156,874 shares of the company’s stock worth $71,830,000 after buying an additional 783,419 shares during the period. Fiera Capital Corp purchased a new position in DocuSign during the 4th quarter valued at about $47,920,000. Principal Financial Group Inc. boosted its stake in shares of DocuSign by 3,026.7% during the fourth quarter. Principal Financial Group Inc. now owns 546,796 shares of the company’s stock valued at $49,179,000 after purchasing an additional 529,308 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its stake in DocuSign by 42.4% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,459,580 shares of the company’s stock worth $90,625,000 after buying an additional 434,312 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its holdings in DocuSign by 5,660.8% during the third quarter. International Assets Investment Management LLC now owns 438,914 shares of the company’s stock worth $27,252,000 after buying an additional 431,295 shares during the period. 77.64% of the stock is owned by hedge funds and other institutional investors.

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.