DocuSign (NASDAQ:DOCU) Shares Gap Down on Analyst Downgrade

DocuSign, Inc. (NASDAQ:DOCUGet Free Report)’s stock price gapped down prior to trading on Tuesday after Wells Fargo & Company lowered their price target on the stock from $55.00 to $45.00. The stock had previously closed at $53.21, but opened at $49.86. Wells Fargo & Company currently has an underweight rating on the stock. DocuSign shares last traded at $50.18, with a volume of 2,803,620 shares changing hands.

Other research analysts have also issued reports about the company. TheStreet raised DocuSign from a “d+” rating to a “c-” rating in a report on Tuesday, December 19th. JMP Securities reiterated a “market outperform” rating and set a $84.00 price objective on shares of DocuSign in a research report on Monday, January 22nd. Royal Bank of Canada restated a “sector perform” rating and issued a $50.00 price target on shares of DocuSign in a research note on Friday, January 12th. Piper Sandler lowered their target price on shares of DocuSign from $57.00 to $50.00 and set a “neutral” rating on the stock in a report on Friday, December 8th. Finally, JPMorgan Chase & Co. reduced their price target on DocuSign from $50.00 to $45.00 and set an “underweight” rating on the stock in a research report on Friday, December 8th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, DocuSign presently has a consensus rating of “Hold” and an average target price of $60.00.

Get Our Latest Analysis on DocuSign

Insider Buying and Selling at DocuSign

In related news, CEO Allan C. Thygesen sold 92,750 shares of the stock in a transaction that occurred on Tuesday, December 19th. The shares were sold at an average price of $61.31, for a total transaction of $5,686,502.50. Following the transaction, the chief executive officer now owns 126,867 shares in the company, valued at $7,778,215.77. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other DocuSign news, CEO Allan C. Thygesen sold 92,750 shares of DocuSign stock in a transaction that occurred on Tuesday, December 19th. The shares were sold at an average price of $61.31, for a total transaction of $5,686,502.50. Following the transaction, the chief executive officer now owns 126,867 shares of the company’s stock, valued at $7,778,215.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Allan C. Thygesen sold 7,680 shares of DocuSign stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $61.27, for a total value of $470,553.60. Following the sale, the chief executive officer now directly owns 111,767 shares in the company, valued at approximately $6,847,964.09. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 137,292 shares of company stock worth $8,339,988. 17.80% of the stock is owned by insiders.

Hedge Funds Weigh In On DocuSign

Several hedge funds have recently added to or reduced their stakes in DOCU. Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its position in DocuSign by 440.0% in the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 270 shares of the company’s stock valued at $28,000 after buying an additional 220 shares during the period. Brown Brothers Harriman & Co. grew its stake in shares of DocuSign by 873.0% during the second quarter. Brown Brothers Harriman & Co. now owns 613 shares of the company’s stock worth $31,000 after acquiring an additional 550 shares during the last quarter. Capital Analysts LLC raised its holdings in shares of DocuSign by 781.7% in the fourth quarter. Capital Analysts LLC now owns 529 shares of the company’s stock worth $31,000 after buying an additional 469 shares during the last quarter. BluePath Capital Management LLC acquired a new stake in DocuSign during the 3rd quarter worth about $32,000. Finally, McGlone Suttner Wealth Management Inc. purchased a new position in DocuSign during the 4th quarter worth approximately $32,000. 77.96% of the stock is currently owned by institutional investors.

DocuSign Stock Down 2.0 %

The stock has a market cap of $10.64 billion, a price-to-earnings ratio of 208.69, a price-to-earnings-growth ratio of 7.60 and a beta of 0.93. The stock’s 50 day moving average price is $57.32 and its two-hundred day moving average price is $49.37.

DocuSign (NASDAQ:DOCUGet Free Report) last announced its quarterly earnings results on Thursday, December 7th. The company reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.16. DocuSign had a net margin of 1.90% and a return on equity of 14.06%. The firm had revenue of $700.42 million for the quarter, compared to the consensus estimate of $690.27 million. During the same period in the prior year, the firm posted $0.05 earnings per share. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. On average, analysts predict that DocuSign, Inc. will post 0.57 earnings per share for the current fiscal year.

DocuSign Company Profile

(Get Free Report)

DocuSign, Inc provides electronic signature solution in the United States and internationally. The company provides DocuSign 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; and Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce.

See Also

Receive News & Ratings for DocuSign Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DocuSign and related companies with MarketBeat.com's FREE daily email newsletter.