Docusign (NASDAQ:DOCU) Trading Up 5.7% – Still a Buy?

Docusign Inc. (NASDAQ:DOCU)’s share price was up 5.7% on Tuesday . The company traded as high as $69.31 and last traded at $69.8250. Approximately 1,124,736 shares were traded during mid-day trading, a decline of 59% from the average daily volume of 2,736,121 shares. The stock had previously closed at $66.04.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on DOCU shares. Evercore ISI reduced their price target on Docusign from $92.00 to $80.00 and set an “in-line” rating for the company in a research report on Friday, December 5th. Wells Fargo & Company decreased their target price on Docusign from $85.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Friday, December 5th. JMP Securities reaffirmed a “market outperform” rating and issued a $124.00 price target on shares of Docusign in a report on Friday, October 3rd. Piper Sandler cut their price objective on Docusign from $90.00 to $75.00 and set a “neutral” rating for the company in a report on Friday, December 5th. Finally, Citigroup upped their price objective on shares of Docusign from $110.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, September 4th. Four analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $86.71.

Docusign Stock Performance

The firm has a 50-day moving average of $69.15 and a 200-day moving average of $74.78. The firm has a market capitalization of $14.06 billion, a P/E ratio of 48.46, a price-to-earnings-growth ratio of 3.46 and a beta of 0.98.

Insider Transactions at Docusign

In related news, insider James P. Shaughnessy sold 7,500 shares of the firm’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $71.19, for a total value of $533,925.00. Following the completion of the sale, the insider owned 55,442 shares of the company’s stock, valued at $3,946,915.98. This trade represents a 11.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Robert Chatwani sold 13,817 shares of the business’s stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $83.10, for a total transaction of $1,148,192.70. Following the transaction, the insider directly owned 71,162 shares in the company, valued at approximately $5,913,562.20. The trade was a 16.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 102,729 shares of company stock valued at $7,707,523. Company insiders own 1.01% of the company’s stock.

Institutional Investors Weigh In On Docusign

A number of large investors have recently modified their holdings of DOCU. Banque Transatlantique SA bought a new stake in Docusign during the 1st quarter valued at approximately $26,000. Summit Securities Group LLC purchased a new position in shares of Docusign in the 1st quarter valued at approximately $34,000. Rise Advisors LLC boosted its position in shares of Docusign by 864.6% during the first quarter. Rise Advisors LLC now owns 463 shares of the company’s stock valued at $38,000 after purchasing an additional 415 shares in the last quarter. WPG Advisers LLC purchased a new stake in Docusign in the first quarter worth $39,000. Finally, Twin Peaks Wealth Advisors LLC purchased a new stake in Docusign in the second quarter worth $43,000. 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.