DocuSign (NASDAQ:DOCU) Receives "Sector Perform" Rating from Royal Bank of Canada

Royal Bank of Canada reiterated their sector perform rating on shares of DocuSign (NASDAQ:DOCU - Free Report) in a report published on Friday, Benzinga reports. The brokerage currently has a $59.00 price target on the stock.

DOCU has been the topic of a number of other research reports. JMP Securities reaffirmed a market outperform rating and set a $84.00 price target on shares of DocuSign in a research report on Friday. Wells Fargo & Company dropped their price objective on shares of DocuSign from $55.00 to $45.00 and set an underweight rating on the stock in a report on Monday, February 5th. UBS Group raised shares of DocuSign from a sell rating to a neutral rating and upped their target price for the stock from $48.00 to $62.00 in a research note on Friday. TheStreet upgraded DocuSign from a d+ rating to a c- rating in a report on Tuesday, December 19th. Finally, Morgan Stanley upgraded DocuSign from an underweight rating to an equal weight rating and boosted their price target for the company from $49.00 to $64.00 in a report on Tuesday, January 16th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, DocuSign has a consensus rating of Hold and a consensus price target of $60.25.

DocuSign Stock Performance

DOCU traded down $0.58 during midday trading on Friday, reaching $58.90. 2,377,393 shares of the company were exchanged, compared to its average volume of 3,519,521. The stock has a market capitalization of $12.10 billion, a P/E ratio of 167.50, a PEG ratio of 5.18 and a beta of 0.89. DocuSign has a one year low of $38.11 and a one year high of $64.76. The stock's 50-day simple moving average is $55.36 and its 200 day simple moving average is $51.47.

DocuSign (NASDAQ:DOCU - Get Free Report) last released its quarterly earnings data on Thursday, March 7th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.06. The business had revenue of $712.39 million for the quarter, compared to analyst estimates of $698.05 million. DocuSign had a net margin of 2.68% and a return on equity of 13.91%. On average, research analysts anticipate that DocuSign will post 0.86 earnings per share for the current year.

Insider Transactions at DocuSign

In related news, Director Teresa Briggs sold 499 shares of the business's stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $52.99, for a total value of $26,442.01. Following the completion of the transaction, the director now owns 6,169 shares of the company's stock, valued at $326,895.31. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other DocuSign news, Director Teresa Briggs sold 499 shares of the business's stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $52.99, for a total transaction of $26,442.01. Following the completion of the transaction, the director now directly owns 6,169 shares in the company, valued at $326,895.31. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Allan C. Thygesen sold 7,680 shares of the firm's stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $61.27, for a total value of $470,553.60. Following the completion of the sale, the chief executive officer now directly owns 111,767 shares in the company, valued at approximately $6,847,964.09. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 54,871 shares of company stock valued at $3,176,199. 17.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On DocuSign

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in DocuSign by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 21,399,739 shares of the company's stock worth $1,272,214,000 after purchasing an additional 417,352 shares during the last quarter. Capital World Investors boosted its holdings in DocuSign by 128.3% in the first quarter. Capital World Investors now owns 5,683,838 shares of the company's stock valued at $608,853,000 after acquiring an additional 3,193,727 shares during the last quarter. Coatue Management LLC acquired a new stake in DocuSign during the 4th quarter valued at approximately $288,274,000. Morgan Stanley lifted its position in shares of DocuSign by 1.7% in the 3rd quarter. Morgan Stanley now owns 3,219,450 shares of the company's stock worth $135,217,000 after purchasing an additional 53,553 shares during the period. Finally, Clearbridge Investments LLC boosted its stake in shares of DocuSign by 1.9% in the 1st quarter. Clearbridge Investments LLC now owns 3,186,783 shares of the company's stock valued at $341,368,000 after purchasing an additional 58,555 shares during the last quarter. Institutional investors and hedge funds 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 DocuSign 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; and Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce.