Docusign (NASDAQ:DOCU) Stock Price Down 4.9% - What's Next?

Key Points

• Docusign (DOCU) shares dropped 4.9% intraday to about $65.06 on Friday, trading as low as $65.43 on sharply lighter volume (~362,689 shares, down ~89% vs. the 3.28M average).
• Analysts have trimmed targets and stuck with neutral/hold views — Bank of America, Piper Sandler and Evercore cut targets recently, and the MarketBeat consensus is a Hold with an average price target of $86.80.
• Company insiders have been net sellers recently (CFO Blake Grayson sold 9,515 shares); insiders sold 33,542 shares (~$2.31M) over the last 90 days, while insiders own ~1.01% and institutions own ~77.6% of the stock.

Docusign Inc. (NASDAQ:DOCU - Get Free Report)'s stock price dropped 4.9% during mid-day trading on Friday . The company traded as low as $65.43 and last traded at $65.0550. Approximately 362,689 shares changed hands during trading, a decline of 89% from the average daily volume of 3,276,484 shares. The stock had previously closed at $68.40.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on DOCU shares. Bank of America cut their target price on shares of Docusign from $102.00 to $82.00 and set a "neutral" rating on the stock in a research note on Friday, December 5th. Piper Sandler cut their price objective on Docusign from $90.00 to $75.00 and set a "neutral" rating on the stock in a research report on Friday, December 5th. Weiss Ratings reiterated a "hold (c)" rating on shares of Docusign in a report on Wednesday, October 8th. Argus reissued a "hold" rating on shares of Docusign in a research note on Monday, September 8th. Finally, Evercore ISI reduced their price target on Docusign from $92.00 to $80.00 and set an "in-line" rating on the stock in a research report on Friday, December 5th. Six research analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $86.80.

Docusign Price Performance

The company's 50 day simple moving average is $68.93 and its 200 day simple moving average is $73.27. The company has a market capitalization of $12.97 billion, a PE ratio of 45.23, a price-to-earnings-growth ratio of 3.37 and a beta of 0.99.

Insider Buying and Selling

In other Docusign news, CFO Blake Jeffrey Grayson sold 9,515 shares of Docusign stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $68.33, for a total transaction of $650,159.95. Following the transaction, the chief financial officer owned 118,213 shares of the company's stock, valued at $8,077,494.29. The trade was a 7.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Anna Marrs sold 365 shares of the firm's stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $68.54, for a total transaction of $25,017.10. Following the transaction, the director owned 11,163 shares in the company, valued at approximately $765,112.02. This trade represents a 3.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 33,542 shares of company stock valued at $2,313,580 over the last ninety days. Company insiders own 1.01% of the company's stock.

Institutional Trading of Docusign

A number of large investors have recently bought and sold shares of the business. Banque Transatlantique SA purchased a new stake in shares of Docusign in the first quarter valued at about $26,000. Rise Advisors LLC grew its position in Docusign by 864.6% in the 1st quarter. Rise Advisors LLC now owns 463 shares of the company's stock valued at $38,000 after buying an additional 415 shares during the last quarter. Twin Peaks Wealth Advisors LLC purchased a new position in Docusign during the 2nd quarter worth $43,000. First Horizon Advisors Inc. raised its position in Docusign by 48.6% during the 2nd quarter. First Horizon Advisors Inc. now owns 590 shares of the company's stock worth $46,000 after buying an additional 193 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in shares of Docusign by 31.3% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 595 shares of the company's stock worth $46,000 after acquiring an additional 142 shares during the period. Institutional investors and hedge funds own 77.64% of the company's stock.

About Docusign

DocuSign, Inc NASDAQ: DOCU is a leading provider of electronic signature and digital transaction management solutions. The company's flagship offering, DocuSign eSignature, enables organizations to send, sign and manage legally binding electronic agreements securely in the cloud. Beyond eSignature, DocuSign's Agreement Cloud combines contract lifecycle management, document generation, and workflow automation to streamline agreement processes from initiation through execution and storage.

DocuSign's platform serves a diverse customer base spanning industries such as finance, real estate, healthcare, technology, and government.

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