Wells Fargo & Company Increases DocuSign (NASDAQ:DOCU) Price Target to $73.00

DocuSign (NASDAQ:DOCU) had its target price hoisted by Wells Fargo & Company from $70.00 to $73.00 in a research note published on Friday morning,Benzinga reports. They currently have an underweight rating on the stock.

DOCU has been the subject of several other research reports. Hsbc Global Res upgraded DocuSign to a “moderate sell” rating in a report on Friday, December 6th. Royal Bank of Canada reiterated a “sector perform” rating and set a $90.00 price target (up previously from $57.00) on shares of DocuSign in a report on Friday, December 6th. HSBC reiterated a “reduce” rating on shares of DocuSign in a report on Friday, December 6th. Citigroup reiterated a “buy” rating on shares of DocuSign in a report on Thursday, March 6th. Finally, UBS Group upped their price target on DocuSign from $60.00 to $100.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $95.58.

DocuSign Stock Up 14.8 %

NASDAQ DOCU opened at $85.76 on Friday. The company has a market cap of $17.33 billion, a price-to-earnings ratio of 17.68, a P/E/G ratio of 6.94 and a beta of 1.02. DocuSign has a 52 week low of $48.70 and a 52 week high of $107.86. The business has a 50 day moving average price of $87.97 and a 200-day moving average price of $79.52.

DocuSign (NASDAQ:DOCU) last released its quarterly earnings data on Thursday, March 13th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.84 by $0.02. The firm had revenue of $776.25 million during the quarter, compared to the consensus estimate of $760.94 million. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The company’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.76 earnings per share. On average, equities research analysts anticipate that DocuSign will post 1.17 earnings per share for the current year.

Insider Buying and Selling at DocuSign

In other DocuSign news, CFO Blake Jeffrey Grayson sold 8,000 shares of the company’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $86.90, for a total value of $695,200.00. Following the completion of the transaction, the chief financial officer now owns 77,851 shares in the company, valued at $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 is available through the SEC website. Also, CEO Allan C. Thygesen sold 40,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $90.04, for a total value of $3,601,600.00. Following the completion of the transaction, the chief executive officer now owns 156,050 shares of the company’s stock, valued at $14,050,742. This trade represents a 20.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 95,888 shares of company stock worth $8,856,718 in the last quarter. 1.66% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of DOCU. US Bancorp DE grew its stake in shares of DocuSign by 12.6% during the 3rd quarter. US Bancorp DE now owns 3,561 shares of the company’s stock worth $221,000 after acquiring an additional 398 shares during the period. Apollon Wealth Management LLC bought a new position in shares of DocuSign during the 3rd quarter worth $203,000. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of DocuSign by 10.4% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 475,113 shares of the company’s stock worth $29,500,000 after acquiring an additional 44,615 shares during the period. Victory Capital Management Inc. grew its stake in shares of DocuSign by 211.4% during the 3rd quarter. Victory Capital Management Inc. now owns 409,877 shares of the company’s stock worth $25,449,000 after acquiring an additional 278,252 shares during the period. Finally, Oppenheimer Asset Management Inc. grew its stake in shares of DocuSign by 9.7% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 5,442 shares of the company’s stock worth $338,000 after acquiring an additional 481 shares during the period. 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.