DocuSign (NASDAQ:DOCU) Upgraded by JPMorgan Chase & Co. to “Neutral” Rating

DocuSign (NASDAQ:DOCU) was upgraded by equities researchers at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a report issued on Monday,Briefing.com Automated Import reports. The brokerage presently has a $75.00 price objective on the stock, up from their previous price objective of $70.00. JPMorgan Chase & Co.‘s target price points to a potential downside of 6.05% from the company’s previous close.

A number of other research firms also recently issued reports on DOCU. Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a research report on Tuesday, February 4th. Robert W. Baird upped their price objective on shares of DocuSign from $59.00 to $100.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Piper Sandler raised their target price on shares of DocuSign from $60.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Citigroup upped their price target on shares of DocuSign from $87.00 to $113.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $90.00 price objective (up from $57.00) on shares of DocuSign in a report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $92.91.

DocuSign Stock Performance

Shares of NASDAQ DOCU opened at $79.83 on Monday. DocuSign has a 52-week low of $48.70 and a 52-week high of $107.86. The firm has a market capitalization of $16.13 billion, a price-to-earnings ratio of 16.46, a PEG ratio of 6.94 and a beta of 1.02. The stock has a 50 day moving average price of $89.05 and a 200 day moving average price of $78.75.

Insider Transactions at DocuSign

In other news, Director Daniel D. Springer sold 581,588 shares of the business’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $97.04, for a total transaction of $56,437,299.52. Following the sale, the director now owns 906,430 shares in the company, valued at approximately $87,959,967.20. The trade was a 39.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Teresa Briggs sold 534 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were 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 in the company, valued at approximately $731,825.60. This trade represents a 6.46 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 686,010 shares of company stock valued at $66,102,694. Corporate insiders own 1.66% of the company’s stock.

Institutional Investors Weigh In On DocuSign

Large investors have recently made changes to their positions in the stock. Citizens Financial Group Inc. RI raised its stake in DocuSign by 2.3% in the 4th quarter. Citizens Financial Group Inc. RI now owns 5,990 shares of the company’s stock worth $539,000 after acquiring an additional 133 shares during the last quarter. Rakuten Securities Inc. increased its holdings in shares of DocuSign by 20.9% in the fourth quarter. Rakuten Securities Inc. now owns 797 shares of the company’s stock valued at $72,000 after purchasing an additional 138 shares during the period. Synergy Financial Group LTD raised its stake in shares of DocuSign by 3.4% in the fourth quarter. Synergy Financial Group LTD now owns 4,241 shares of the company’s stock worth $381,000 after purchasing an additional 140 shares during the last quarter. M&T Bank Corp lifted its holdings in shares of DocuSign by 1.3% during the fourth quarter. M&T Bank Corp now owns 10,840 shares of the company’s stock worth $975,000 after purchasing an additional 143 shares during the period. Finally, TD Waterhouse Canada Inc. boosted its position in DocuSign by 34.5% in the fourth quarter. TD Waterhouse Canada Inc. now owns 557 shares of the company’s stock valued at $50,000 after buying an additional 143 shares during the last quarter. 77.64% of the stock is owned by hedge funds and other institutional investors.

DocuSign Company Profile

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.