DocuSign’s (DOCU) Sector Perform Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reiterated their sector perform rating on shares of DocuSign (NASDAQ:DOCU) in a report published on Friday morning,Benzinga reports. They currently have a $90.00 price objective on the stock.

Other equities research analysts also recently issued reports about the stock. Wedbush reaffirmed a “neutral” rating and set a $100.00 target price on shares of DocuSign in a research note on Friday. JPMorgan Chase & Co. raised shares of DocuSign from an “underweight” rating to a “neutral” rating and upped their target price for the stock from $70.00 to $75.00 in a research note on Monday, March 10th. UBS Group cut their target price on shares of DocuSign from $100.00 to $90.00 and set a “neutral” rating on the stock in a research note on Friday. Citigroup reissued a “buy” rating on shares of DocuSign in a research report on Thursday, March 6th. Finally, Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $95.58.

DocuSign Stock Up 14.8 %

Shares of DOCU opened at $85.76 on Friday. DocuSign has a fifty-two week low of $48.70 and a fifty-two week high of $107.86. The firm’s 50 day moving average price is $87.97 and its 200 day moving average price is $79.22. The company has a market cap of $17.33 billion, a P/E ratio of 17.68, a PEG ratio of 6.94 and a beta of 1.02.

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

Insider Activity

In other news, 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 in the company, valued at approximately $14,050,742. This represents a 20.40 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Blake Jeffrey Grayson sold 8,000 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $86.90, for a total transaction of $695,200.00. Following the sale, the chief financial officer now owns 77,851 shares of the company’s stock, valued at approximately $6,765,251.90. This represents a 9.32 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 104,422 shares of company stock worth $9,665,394. Corporate insiders own 1.66% of the company’s stock.

Institutional Trading of DocuSign

A number of large investors have recently bought and sold shares of DOCU. FMR LLC boosted its stake in DocuSign by 178.2% during the 4th quarter. FMR LLC now owns 6,101,024 shares of the company’s stock worth $548,726,000 after purchasing an additional 3,908,139 shares during the period. Invesco Ltd. boosted its stake in DocuSign by 283.9% during the 4th quarter. Invesco Ltd. now owns 3,447,275 shares of the company’s stock worth $310,048,000 after purchasing an additional 2,549,310 shares during the period. Norges Bank acquired a new stake in DocuSign during the 4th quarter worth $223,196,000. Arrowstreet Capital Limited Partnership boosted its stake in DocuSign by 201.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,158,311 shares of the company’s stock worth $194,118,000 after purchasing an additional 1,442,639 shares during the period. Finally, Jericho Capital Asset Management L.P. boosted its stake in DocuSign by 34.0% during the 4th quarter. Jericho Capital Asset Management L.P. now owns 4,754,753 shares of the company’s stock worth $427,642,000 after purchasing an additional 1,205,500 shares during the period. Institutional investors and hedge funds own 77.64% of the company’s stock.

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.