DocuSign (NASDAQ:DOCU) Upgraded at HSBC

HSBC upgraded shares of DocuSign (NASDAQ:DOCU) from a reduce rating to a hold rating in a research report sent to investors on Friday morning, MarketBeat.com reports. HSBC currently has $70.00 price objective on the stock.

Other analysts have also issued research reports about the company. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a report on Friday, March 14th. Bank of America reduced their target price on DocuSign from $112.00 to $98.00 and set a “neutral” rating on the stock in a research note on Friday, March 14th. UBS Group reduced their target price on shares of DocuSign from $100.00 to $90.00 and set a “neutral” rating on the stock in a research report on Friday, March 14th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $90.00 price target on shares of DocuSign in a report on Friday, March 14th. Finally, Robert W. Baird set a $93.00 price objective on DocuSign in a research note on Friday, March 14th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $93.85.

DocuSign Trading Up 1.5 %

DOCU opened at $74.35 on Friday. DocuSign has a 12-month low of $48.70 and a 12-month high of $107.86. The company has a market cap of $15.06 billion, a price-to-earnings ratio of 15.33, a PEG ratio of 6.94 and a beta of 1.20. The company’s 50 day moving average is $82.95 and its 200 day moving average is $82.90.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings results on Thursday, March 13th. The company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.02. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The business had revenue of $776.25 million for the quarter, compared to analysts’ expectations of $760.94 million. During the same period last year, the firm earned $0.76 earnings per share. The business’s quarterly revenue was up 9.0% on a year-over-year basis. As a group, analysts predict that DocuSign will post 1.17 EPS for the current fiscal year.

Insider Buying and Selling at DocuSign

In other DocuSign news, Director Teresa Briggs sold 534 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $87.41, for a total transaction of $46,676.94. Following the transaction, the director now owns 8,270 shares in the company, valued at approximately $722,880.70. This represents a 6.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Blake Jeffrey Grayson sold 8,000 shares of DocuSign stock in a transaction 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 owns 77,851 shares of the company’s stock, valued at $6,765,251.90. The trade was a 9.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 47,851 shares of company stock worth $3,998,719 over the last three months. Corporate insiders own 1.66% of the company’s stock.

Hedge Funds Weigh In On DocuSign

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Toronto Dominion Bank raised its holdings in shares of DocuSign by 30.3% during the third quarter. Toronto Dominion Bank now owns 26,159 shares of the company’s stock worth $1,624,000 after purchasing an additional 6,081 shares during the last quarter. Rhumbline Advisers grew its position in DocuSign by 118.8% during the 4th quarter. Rhumbline Advisers now owns 608,123 shares of the company’s stock worth $54,695,000 after purchasing an additional 330,136 shares during the period. KBC Group NV grew its position in DocuSign by 32.7% during the 4th quarter. KBC Group NV now owns 1,535,107 shares of the company’s stock worth $138,067,000 after purchasing an additional 378,233 shares during the period. Jennison Associates LLC purchased a new position in shares of DocuSign during the 4th quarter valued at about $12,897,000. Finally, Everence Capital Management Inc. acquired a new position in shares of DocuSign in the 4th quarter valued at about $720,000. Hedge funds and other institutional investors own 77.64% of the company’s stock.

About DocuSign

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.