DocuSign (NASDAQ:DOCU) Sets New 52-Week High – Time to Buy?

DocuSign, Inc. (NASDAQ:DOCU) shares reached a new 52-week high on Wednesday . The company traded as high as $74.42 and last traded at $73.98, with a volume of 69148 shares trading hands. The stock had previously closed at $72.25.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a report on Friday, September 6th. Robert W. Baird boosted their target price on DocuSign from $55.00 to $59.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Bank of America boosted their target price on DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. JMP Securities reissued a “market outperform” rating and set a $84.00 target price on shares of DocuSign in a report on Thursday, September 5th. Finally, Royal Bank of Canada boosted their target price on DocuSign from $52.00 to $57.00 and gave the stock a “sector perform” rating in a report on Friday, September 6th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $63.40.

DocuSign Trading Up 4.3 %

The stock has a market capitalization of $15.29 billion, a PE ratio of 15.79, a PEG ratio of 7.52 and a beta of 0.90. The firm’s 50-day simple moving average is $63.65 and its two-hundred day simple moving average is $58.24.

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

Insider Activity

In other news, CEO Allan C. Thygesen sold 7,764 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $69.95, for a total transaction of $543,091.80. Following the transaction, the chief executive officer now directly owns 107,825 shares in the company, valued at $7,542,358.75. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Allan C. Thygesen sold 7,725 shares of DocuSign stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $59.09, for a total value of $456,470.25. Following the completion of the sale, the chief executive officer now owns 102,193 shares of the company’s stock, valued at approximately $6,038,584.37. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Allan C. Thygesen sold 7,764 shares of DocuSign stock in a transaction on Friday, November 1st. The shares were sold at an average price of $69.95, for a total transaction of $543,091.80. Following the completion of the sale, the chief executive officer now directly owns 107,825 shares of the company’s stock, valued at approximately $7,542,358.75. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 69,558 shares of company stock worth $4,272,768 in the last ninety days. Corporate insiders own 1.66% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Inspire Investing LLC acquired a new position in DocuSign during the 3rd quarter worth $911,000. Comerica Bank increased its holdings in shares of DocuSign by 228.8% during the 1st quarter. Comerica Bank now owns 28,901 shares of the company’s stock worth $1,721,000 after purchasing an additional 20,110 shares during the period. International Assets Investment Management LLC increased its holdings in shares of DocuSign by 5,660.8% during the 3rd quarter. International Assets Investment Management LLC now owns 438,914 shares of the company’s stock worth $27,252,000 after purchasing an additional 431,295 shares during the period. PGGM Investments increased its holdings in shares of DocuSign by 36.7% during the 2nd quarter. PGGM Investments now owns 49,812 shares of the company’s stock worth $2,665,000 after purchasing an additional 13,379 shares during the period. Finally, Claro Advisors LLC bought a new position in shares of DocuSign during the 3rd quarter worth about $727,000. 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.