DocuSign (NASDAQ:DOCU) Receives “Market Outperform” Rating from JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of DocuSign (NASDAQ:DOCU) in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a $124.00 target price on the stock.

DOCU has been the topic of a number of other research reports. Morgan Stanley increased their price target on shares of DocuSign from $62.00 to $97.00 and gave the stock an “equal weight” rating in a research note on Friday, December 6th. Wells Fargo & Company increased their target price on DocuSign from $50.00 to $70.00 and gave the stock an “underweight” rating in a research report on Friday, December 6th. UBS Group boosted their price target on DocuSign from $60.00 to $100.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Hsbc Global Res upgraded DocuSign to a “moderate sell” rating in a report on Friday, December 6th. Finally, Jefferies Financial Group boosted their target price on DocuSign from $80.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. 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, the company currently has a consensus rating of “Hold” and an average target price of $92.45.

DocuSign Price Performance

NASDAQ DOCU opened at $88.26 on Tuesday. The company has a 50-day moving average of $85.99 and a 200-day moving average of $68.29. DocuSign has a 12 month low of $48.70 and a 12 month high of $107.86. The company has a market cap of $17.83 billion, a P/E ratio of 18.20, a P/E/G ratio of 8.72 and a beta of 0.88.

Insider Activity at DocuSign

In related news, Director Teresa Briggs sold 534 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $94.60, for a total value of $50,516.40. Following the completion of the transaction, the director now owns 7,736 shares of the company’s stock, valued at approximately $731,825.60. This represents a 6.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Robert Chatwani sold 14,800 shares of DocuSign stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $97.76, for a total value of $1,446,848.00. Following the sale, the insider now owns 73,414 shares in the company, valued at $7,176,952.64. This represents a 16.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 693,089 shares of company stock valued at $66,320,395. Corporate insiders own 1.66% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Modus Advisors LLC bought a new position in shares of DocuSign during the fourth quarter worth about $36,000. Itau Unibanco Holding S.A. bought a new position in DocuSign during the 3rd quarter worth approximately $28,000. Brooklyn Investment Group bought a new position in DocuSign during the 3rd quarter worth approximately $33,000. Reston Wealth Management LLC bought a new stake in shares of DocuSign in the 3rd quarter valued at approximately $47,000. Finally, GAMMA Investing LLC raised its position in shares of DocuSign by 311.8% during the 4th quarter. GAMMA Investing LLC now owns 803 shares of the company’s stock valued at $72,000 after acquiring an additional 608 shares in the last quarter. 77.64% of the stock is owned by institutional investors and hedge funds.

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.