DocuSign (NASDAQ:DOCU) Shares Down 4% – Time to Sell?

DocuSign, Inc. (NASDAQ:DOCU) shares were down 4% during trading on Wednesday . The stock traded as low as $81.86 and last traded at $81.92. Approximately 435,399 shares were traded during trading, a decline of 85% from the average daily volume of 2,867,433 shares. The stock had previously closed at $85.30.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. JMP Securities upped their price target on shares of DocuSign from $84.00 to $108.00 and gave the company a “market outperform” rating in a research report on Friday, November 22nd. Bank of America raised their price target on DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Wells Fargo & Company upped their price objective on DocuSign from $48.00 to $50.00 and gave the company an “underweight” rating in a research note on Friday, September 6th. Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a research note on Friday, September 6th. Finally, Royal Bank of Canada increased their price target on DocuSign from $52.00 to $57.00 and gave the stock a “sector perform” rating in a report on Friday, September 6th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $65.80.

DocuSign Price Performance

The stock has a market cap of $16.31 billion, a price-to-earnings ratio of 16.96, a PEG ratio of 9.05 and a beta of 0.90. The company’s 50 day moving average is $71.56 and its 200 day moving average is $60.93.

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

Insider Activity at DocuSign

In related news, CEO Allan C. Thygesen sold 7,764 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $69.95, for a total value of $543,091.80. Following the completion of the transaction, the chief executive officer now owns 107,825 shares of the company’s stock, valued at approximately $7,542,358.75. The trade was a 6.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Teresa Briggs sold 534 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $56.56, for a total transaction of $30,203.04. Following the sale, the director now directly owns 7,202 shares in the company, valued at $407,345.12. This represents a 6.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 69,558 shares of company stock valued at $4,272,768. Insiders own 1.66% of the company’s stock.

Hedge Funds Weigh In On DocuSign

Institutional investors and hedge funds have recently modified their holdings of the company. Massmutual Trust Co. FSB ADV raised its holdings in DocuSign by 5,000.0% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company’s stock valued at $27,000 after acquiring an additional 500 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new stake in DocuSign in the 3rd quarter worth about $28,000. Mather Group LLC. grew its holdings in DocuSign by 4,338.5% in the 2nd quarter. Mather Group LLC. now owns 577 shares of the company’s stock valued at $31,000 after buying an additional 564 shares during the period. Brooklyn Investment Group acquired a new position in shares of DocuSign during the 3rd quarter valued at about $33,000. Finally, Reston Wealth Management LLC purchased a new position in shares of DocuSign during the 3rd quarter worth about $47,000. 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.