DocuSign (NASDAQ:DOCU) Given Hold Rating at Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of DocuSign (NASDAQ:DOCU) in a research report report published on Tuesday,Benzinga reports.

A number of other equities analysts have also recently weighed in on DOCU. UBS Group boosted their price target on DocuSign from $60.00 to $100.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Morgan Stanley boosted their price target on DocuSign from $62.00 to $97.00 and gave the stock an “equal weight” rating in a report on Friday, December 6th. JPMorgan Chase & Co. boosted 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. Citigroup boosted their price target on DocuSign from $87.00 to $113.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Finally, JMP Securities reissued a “market outperform” rating and issued a $124.00 price target on shares of DocuSign in a report on Tuesday, January 7th. Three 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’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $92.45.

DocuSign Stock Performance

DOCU opened at $96.47 on Tuesday. The business’s fifty day moving average is $91.54 and its two-hundred day moving average is $73.38. The company has a market cap of $19.49 billion, a price-to-earnings ratio of 19.89, a PEG ratio of 8.74 and a beta of 0.89. DocuSign has a one year low of $48.70 and a one year high of $107.86.

Insider Activity at DocuSign

In other DocuSign news, CEO Allan C. Thygesen sold 7,763 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $80.54, for a total transaction of $625,232.02. Following the completion of the sale, the chief executive officer now directly owns 100,062 shares in the company, valued at $8,058,993.48. This represents a 7.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Blake Jeffrey Grayson sold 15,588 shares of the company’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $97.78, for a total value of $1,524,194.64. Following the sale, the chief financial officer now owns 85,851 shares of the company’s stock, valued at $8,394,510.78. This represents a 15.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 685,773 shares of company stock worth $66,032,726. 1.66% of the stock is currently owned by insiders.

Institutional Investors Weigh In On DocuSign

Several institutional investors and hedge funds have recently modified their holdings of DOCU. The Manufacturers Life Insurance Company boosted its position in shares of DocuSign by 3.2% in the second quarter. The Manufacturers Life Insurance Company now owns 52,260 shares of the company’s stock worth $2,796,000 after buying an additional 1,628 shares during the period. Creative Planning boosted its position in shares of DocuSign by 9.2% in the second quarter. Creative Planning now owns 13,687 shares of the company’s stock worth $732,000 after buying an additional 1,157 shares during the period. Truist Financial Corp boosted its position in shares of DocuSign by 18.1% in the second quarter. Truist Financial Corp now owns 9,138 shares of the company’s stock worth $489,000 after buying an additional 1,399 shares during the period. Sanctuary Advisors LLC purchased a new stake in shares of DocuSign in the second quarter worth about $942,000. Finally, Park Avenue Securities LLC purchased a new stake in shares of DocuSign in the third quarter worth about $231,000. Hedge funds and other institutional investors own 77.64% of the company’s stock.

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.