Docusign (NASDAQ:DOCU) Sets New 52-Week Low – What’s Next?

Docusign Inc. (NASDAQ:DOCU)’s share price reached a new 52-week low during trading on Tuesday . The stock traded as low as $55.61 and last traded at $56.3520, with a volume of 417380 shares. The stock had previously closed at $56.71.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on DOCU. Zacks Research lowered Docusign from a “strong-buy” rating to a “hold” rating in a report on Monday, November 24th. UBS Group cut their price objective on Docusign from $85.00 to $75.00 and set a “neutral” rating on the stock in a research report on Friday, December 5th. JMP Securities reaffirmed a “market outperform” rating and set a $124.00 target price on shares of Docusign in a research report on Friday, October 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Docusign in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Docusign from $80.00 to $78.00 and set a “neutral” rating for the company in a research report on Friday, December 5th. Six equities research analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $85.13.

Docusign Price Performance

The company has a 50 day simple moving average of $67.31 and a 200-day simple moving average of $72.23. The stock has a market capitalization of $11.24 billion, a P/E ratio of 39.27, a price-to-earnings-growth ratio of 2.79 and a beta of 0.99.

Insider Activity

In related news, CEO Allan C. Thygesen sold 26,250 shares of the firm’s stock in a transaction that occurred on Friday, January 9th. The shares were sold at an average price of $69.60, for a total value of $1,827,000.00. Following the completion of the transaction, the chief executive officer directly owned 142,261 shares of the company’s stock, valued at approximately $9,901,365.60. This trade represents a 15.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Robert Chatwani sold 13,818 shares of Docusign stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $68.33, for a total transaction of $944,183.94. Following the completion of the transaction, the insider owned 70,197 shares of the company’s stock, valued at $4,796,561.01. This represents a 16.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 78,292 shares of company stock valued at $5,374,260. 1.66% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Docusign

A number of large investors have recently made changes to their positions in the stock. Norges Bank bought a new position in shares of Docusign in the second quarter valued at approximately $140,987,000. Woodline Partners LP lifted its stake in Docusign by 24,412.7% in the 3rd quarter. Woodline Partners LP now owns 958,938 shares of the company’s stock worth $69,130,000 after purchasing an additional 955,026 shares in the last quarter. Third Point LLC bought a new position in Docusign in the 2nd quarter valued at $48,681,000. Jupiter Asset Management Ltd. boosted its holdings in Docusign by 88.3% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 1,316,440 shares of the company’s stock valued at $102,538,000 after purchasing an additional 617,200 shares during the period. Finally, Alliancebernstein L.P. grew its position in shares of Docusign by 132.8% during the 2nd quarter. Alliancebernstein L.P. now owns 868,531 shares of the company’s stock valued at $67,650,000 after purchasing an additional 495,380 shares in the last quarter. 77.64% of the stock is owned by institutional investors.

About Docusign

DocuSign, Inc (NASDAQ: DOCU) is a leading provider of electronic signature and digital transaction management solutions. The company’s flagship offering, DocuSign eSignature, enables organizations to send, sign and manage legally binding electronic agreements securely in the cloud. Beyond eSignature, DocuSign’s Agreement Cloud combines contract lifecycle management, document generation, and workflow automation to streamline agreement processes from initiation through execution and storage.

DocuSign’s platform serves a diverse customer base spanning industries such as finance, real estate, healthcare, technology, and government.