DocuSign (NASDAQ:DOCU) Given Outperform Rating at William Blair

William Blair reissued their outperform rating on shares of DocuSign (NASDAQ:DOCU) in a research report sent to investors on Monday,RTT News reports.

Several other equities analysts also recently issued reports on DOCU. Wedbush restated a “neutral” rating and set a $100.00 price objective on shares of DocuSign in a report on Friday, March 14th. HSBC upgraded DocuSign from a “reduce” rating to a “hold” rating and set a $70.00 price target for the company in a research report on Friday, April 11th. JPMorgan Chase & Co. raised DocuSign from an “underweight” rating to a “neutral” rating and raised their target price for the stock from $70.00 to $75.00 in a research note on Monday, March 10th. Citigroup upped their price objective on shares of DocuSign from $113.00 to $115.00 and gave the company a “buy” rating in a report on Friday, March 14th. Finally, UBS Group decreased their price objective on DocuSign from $90.00 to $85.00 and set a “neutral” rating on the stock in a report on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, DocuSign currently has a consensus rating of “Hold” and an average target price of $93.08.

DocuSign Trading Down 4.7 %

Shares of DocuSign stock opened at $71.89 on Monday. DocuSign has a 12 month low of $48.70 and a 12 month high of $107.86. The stock’s fifty day moving average price is $81.02 and its 200-day moving average price is $83.44. The firm has a market cap of $14.56 billion, a P/E ratio of 14.82, a P/E/G ratio of 6.94 and a beta of 1.20.

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

Insider Transactions at DocuSign

In related news, insider Robert Chatwani sold 15,706 shares of the business’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $83.19, for a total transaction of $1,306,582.14. Following the completion of the transaction, the insider now owns 76,842 shares in the company, valued at approximately $6,392,485.98. The trade was a 16.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Blake Jeffrey Grayson sold 16,111 shares of the firm’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $83.20, for a total value of $1,340,435.20. Following the sale, the chief financial officer now directly owns 93,960 shares in the company, valued at $7,817,472. This trade represents a 14.64 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 55,851 shares of company stock valued at $4,607,439. 1.66% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On DocuSign

Hedge funds have recently added to or reduced their stakes in the stock. Rhumbline Advisers grew its position in shares of DocuSign by 118.8% during the fourth quarter. Rhumbline Advisers now owns 608,123 shares of the company’s stock worth $54,695,000 after acquiring an additional 330,136 shares during the last quarter. KBC Group NV lifted its position in shares of DocuSign by 32.7% during the 4th quarter. KBC Group NV now owns 1,535,107 shares of the company’s stock valued at $138,067,000 after acquiring an additional 378,233 shares during the period. Jennison Associates LLC acquired a new position in shares of DocuSign during the 4th quarter worth $12,897,000. Everence Capital Management Inc. acquired a new position in DocuSign during the fourth quarter worth about $720,000. Finally, Principal Financial Group Inc. raised its position in shares of DocuSign by 3,026.7% during the 4th quarter. Principal Financial Group Inc. now owns 546,796 shares of the company’s stock worth $49,179,000 after purchasing an additional 529,308 shares during the last quarter. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

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.