Docusign (NASDAQ:DOCU) Sets New 52-Week Low – What’s Next?

Docusign Inc. (NASDAQ:DOCU) shares reached a new 52-week low on Tuesday . The stock traded as low as $55.61 and last traded at $56.3520, with a volume of 417380 shares. The stock had previously closed at $56.71.

Analyst Ratings Changes

A number of brokerages have commented on DOCU. UBS Group cut their price target on shares of Docusign from $85.00 to $75.00 and set a “neutral” rating on the stock in a research report on Friday, December 5th. JMP Securities reissued a “market outperform” rating and issued a $124.00 price objective on shares of Docusign in a research note on Friday, October 3rd. Cantor Fitzgerald restated an “outperform” rating on shares of Docusign in a research report on Wednesday, December 17th. Wedbush lowered their target price on Docusign from $85.00 to $75.00 and set a “neutral” rating for the company in a report on Friday, December 5th. Finally, Robert W. Baird dropped their price target on Docusign from $90.00 to $75.00 and set a “neutral” rating on the stock in a research note on Friday, December 5th. Six investment analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $85.13.

Docusign Stock Down 1.0%

The stock has a market cap of $11.24 billion, a price-to-earnings ratio of 39.27, a PEG ratio of 2.79 and a beta of 0.99. The stock has a 50 day simple moving average of $67.31 and a 200 day simple moving average of $72.23.

Insiders Place Their Bets

In other news, CEO Allan C. Thygesen sold 26,250 shares of Docusign stock in a transaction dated Friday, January 9th. The shares were sold at an average price of $69.60, for a total transaction of $1,827,000.00. Following the completion of the transaction, the chief executive officer directly owned 142,261 shares in the company, valued at $9,901,365.60. This trade represents a 15.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider James P. Shaughnessy sold 12,000 shares of the business’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $67.03, for a total transaction of $804,360.00. Following the sale, the insider directly owned 54,550 shares of the company’s stock, valued at approximately $3,656,486.50. The trade was a 18.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 78,292 shares of company stock worth $5,374,260 in the last quarter. Insiders own 1.66% of the company’s stock.

Hedge Funds Weigh In On Docusign

A number of hedge funds have recently added to or reduced their stakes in DOCU. Vanguard Group Inc. boosted its holdings in Docusign by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 21,625,551 shares of the company’s stock worth $1,558,986,000 after acquiring an additional 225,525 shares during the last quarter. State Street Corp lifted its position in shares of Docusign by 0.5% during the third quarter. State Street Corp now owns 8,116,797 shares of the company’s stock valued at $585,140,000 after purchasing an additional 41,821 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Docusign by 1.6% during the second quarter. American Century Companies Inc. now owns 5,564,318 shares of the company’s stock valued at $433,405,000 after purchasing an additional 86,560 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Docusign by 1.5% during the second quarter. Geode Capital Management LLC now owns 3,985,808 shares of the company’s stock worth $309,910,000 after purchasing an additional 59,941 shares during the last quarter. Finally, Invesco Ltd. grew its position in Docusign by 4.5% in the 3rd quarter. Invesco Ltd. now owns 2,690,121 shares of the company’s stock worth $193,931,000 after purchasing an additional 116,047 shares in the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.

About Docusign

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.