DocuSign (NASDAQ:DOCU) Sets New 12-Month High – Here’s Why

DocuSign, Inc. (NASDAQ:DOCU)’s stock price hit a new 52-week high during trading on Monday . The company traded as high as $69.90 and last traded at $69.51, with a volume of 272859 shares traded. The stock had previously closed at $68.89.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on DOCU. Robert W. Baird raised their target price on shares of DocuSign from $55.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. JMP Securities reiterated a “market outperform” rating and set a $84.00 price objective on shares of DocuSign in a research note on Thursday, September 5th. Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a research note on Friday, September 6th. Wells Fargo & Company increased their price objective on shares of DocuSign from $48.00 to $50.00 and gave the company an “underweight” rating in a research note on Friday, September 6th. Finally, Bank of America increased their price objective on shares of DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Two 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 company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $63.40.

DocuSign Stock Down 0.3 %

The company’s 50 day simple moving average is $58.30 and its two-hundred day simple moving average is $56.82. The company has a market capitalization of $14.07 billion, a price-to-earnings ratio of 132.48, a P/E/G ratio of 7.33 and a beta of 0.92.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings results on Thursday, September 5th. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.17. The business had revenue of $736.03 million during the quarter, compared to analysts’ expectations of $727.20 million. DocuSign had a net margin of 34.56% and a return on equity of 16.18%. The business’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the company posted $0.09 earnings per share. Analysts anticipate that DocuSign, Inc. will post 1.01 EPS for the current year.

Insider Buying and Selling

In related news, Director Daniel D. Springer sold 70,983 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $49.84, for a total transaction of $3,537,792.72. Following the completion of the transaction, the director now owns 891,373 shares of the company’s stock, valued at $44,426,030.32. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other DocuSign news, Director Daniel D. Springer sold 70,983 shares of DocuSign stock in a transaction on Monday, August 5th. The shares were sold at an average price of $49.84, for a total value of $3,537,792.72. Following the completion of the transaction, the director now owns 891,373 shares of the company’s stock, valued at approximately $44,426,030.32. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Allan C. Thygesen sold 7,725 shares of DocuSign stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $54.89, for a total transaction of $424,025.25. Following the completion of the transaction, the chief executive officer now directly owns 109,918 shares of the company’s stock, valued at $6,033,399.02. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 418,002 shares of company stock valued at $22,471,973 over the last 90 days. Insiders own 1.66% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Creative Planning grew its position in shares of DocuSign by 5.6% in the third quarter. Creative Planning now owns 14,453 shares of the company’s stock valued at $897,000 after purchasing an additional 766 shares during the period. Thurston Springer Miller Herd & Titak Inc. grew its position in shares of DocuSign by 27.1% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,721 shares of the company’s stock valued at $107,000 after purchasing an additional 367 shares during the period. Gilman Hill Asset Management LLC grew its position in shares of DocuSign by 3.7% in the third quarter. Gilman Hill Asset Management LLC now owns 82,447 shares of the company’s stock valued at $5,119,000 after purchasing an additional 2,960 shares during the period. Exchange Traded Concepts LLC grew its position in shares of DocuSign by 2,689.1% in the third quarter. Exchange Traded Concepts LLC now owns 3,849 shares of the company’s stock valued at $239,000 after purchasing an additional 3,711 shares during the period. Finally, Inspire Investing LLC acquired a new stake in shares of DocuSign in the third quarter valued at about $911,000. 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.