DocuSign (NASDAQ:DOCU) Raised to “Neutral” at JPMorgan Chase & Co.

DocuSign (NASDAQ:DOCU) was upgraded by stock analysts at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a research note issued on Monday, Marketbeat Ratings reports. The firm presently has a $75.00 price objective on the stock, up from their prior price objective of $70.00. JPMorgan Chase & Co.‘s target price indicates a potential downside of 5.66% from the company’s previous close.

Several other research firms have also recently commented 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 research note on Friday, December 6th. Robert W. Baird upped their target price on DocuSign from $59.00 to $100.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. JMP Securities reissued a “market outperform” rating and set a $124.00 price target on shares of DocuSign in a research report on Tuesday, January 7th. Piper Sandler lifted their price target on shares of DocuSign from $60.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Finally, HSBC reiterated a “reduce” rating on shares of DocuSign in a research note on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, DocuSign has a consensus rating of “Hold” and an average target price of $92.91.

DocuSign Price Performance

DocuSign stock opened at $79.50 on Monday. DocuSign has a 12-month low of $48.70 and a 12-month high of $107.86. The company has a market capitalization of $16.06 billion, a price-to-earnings ratio of 16.39, a price-to-earnings-growth ratio of 6.94 and a beta of 1.02. The firm’s fifty day moving average price is $88.57 and its 200 day moving average price is $79.06.

Insider Transactions at DocuSign

In other news, CFO Blake Jeffrey Grayson sold 8,000 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $86.90, for a total transaction of $695,200.00. Following the sale, the chief financial officer now directly owns 77,851 shares in the company, valued at approximately $6,765,251.90. This represents a 9.32 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Teresa Briggs sold 534 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $94.60, for a total value of $50,516.40. Following the transaction, the director now owns 7,736 shares of the company’s stock, valued at $731,825.60. This represents a 6.46 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 104,422 shares of company stock worth $9,665,394. 1.66% of the stock is currently owned by insiders.

Hedge Funds Weigh In On DocuSign

Several institutional investors have recently modified their holdings of DOCU. Itau Unibanco Holding S.A. acquired a new position in DocuSign during the 3rd quarter valued at about $28,000. Kestra Investment Management LLC acquired a new stake in shares of DocuSign in the fourth quarter valued at approximately $30,000. Brooklyn Investment Group bought a new stake in shares of DocuSign during the third quarter valued at approximately $33,000. Modus Advisors LLC acquired a new position in shares of DocuSign during the fourth quarter worth approximately $36,000. Finally, First Horizon Advisors Inc. grew its holdings in DocuSign by 102.6% in the 4th quarter. First Horizon Advisors Inc. now owns 397 shares of the company’s stock worth $36,000 after buying an additional 201 shares in the last quarter. 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.