Docusign (NASDAQ:DOCU) Shares Gap Down – What’s Next?

Docusign Inc. (NASDAQ:DOCU)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $52.00, but opened at $49.27. Docusign shares last traded at $48.3420, with a volume of 1,270,293 shares trading hands.

Analysts Set New Price Targets

DOCU has been the subject of a number of research reports. Royal Bank Of Canada dropped their target price on shares of Docusign from $95.00 to $70.00 and set a “sector perform” rating for the company in a report on Monday, January 5th. JPMorgan Chase & Co. dropped their price objective on shares of Docusign from $80.00 to $78.00 and set a “neutral” rating for the company in a research note on Friday, December 5th. Wells Fargo & Company decreased their target price on shares of Docusign from $85.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Friday, December 5th. Needham & Company LLC reiterated a “hold” rating on shares of Docusign in a report on Wednesday, December 17th. Finally, Zacks Research downgraded Docusign from a “strong-buy” rating to a “hold” rating in a report on Monday, November 24th. Six analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the stock. According to data from MarketBeat, Docusign currently has a consensus rating of “Hold” and a consensus price target of $85.13.

Docusign Price Performance

The company has a market cap of $9.12 billion, a price-to-earnings ratio of 31.80, a price-to-earnings-growth ratio of 2.58 and a beta of 0.99. The business’s fifty day moving average price is $65.13 and its 200 day moving average price is $70.71.

Insider Transactions at Docusign

In other news, insider James P. Shaughnessy sold 12,000 shares of the stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $67.03, for a total value of $804,360.00. Following the completion of the sale, the insider owned 54,550 shares of the company’s stock, valued at approximately $3,656,486.50. This represents a 18.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Allan C. Thygesen sold 26,250 shares of the firm’s stock in a transaction that occurred on Friday, January 9th. The stock was sold at an average price of $69.60, for a total transaction of $1,827,000.00. Following the transaction, the chief executive officer owned 142,261 shares of the company’s stock, valued at approximately $9,901,365.60. The trade was a 15.58% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 78,292 shares of company stock worth $5,374,260. 1.01% of the stock is currently owned by insiders.

Institutional Trading of Docusign

A number of large investors have recently bought and sold shares of the business. Crestwood Advisors Group LLC acquired a new position in shares of Docusign in the 4th quarter valued at about $247,000. Oak Family Advisors LLC grew its stake in Docusign by 3.4% during the fourth quarter. Oak Family Advisors LLC now owns 102,390 shares of the company’s stock worth $7,003,000 after purchasing an additional 3,320 shares during the period. Sequoia Financial Advisors LLC increased its holdings in Docusign by 14.3% in the fourth quarter. Sequoia Financial Advisors LLC now owns 4,544 shares of the company’s stock worth $311,000 after purchasing an additional 570 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Docusign by 14.4% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 201,728 shares of the company’s stock valued at $13,082,000 after buying an additional 25,317 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Docusign by 9.1% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 39,015 shares of the company’s stock worth $2,669,000 after buying an additional 3,261 shares in the last quarter. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Docusign Company Profile

DocuSign, Inc (NASDAQ: DOCU) is a leading provider of electronic signature and digital transaction management solutions. The company’s flagship offering, DocuSign eSignature, enables organizations to send, sign and manage legally binding electronic agreements securely in the cloud. Beyond eSignature, DocuSign’s Agreement Cloud combines contract lifecycle management, document generation, and workflow automation to streamline agreement processes from initiation through execution and storage.

DocuSign’s platform serves a diverse customer base spanning industries such as finance, real estate, healthcare, technology, and government.