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

Docusign Inc. (NASDAQ:DOCU)’s stock price reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $44.71 and last traded at $44.3490, with a volume of 1901131 shares changing hands. The stock had previously closed at $47.62.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Piper Sandler decreased their price target on Docusign from $90.00 to $75.00 and set a “neutral” rating for the company in a research note on Friday, December 5th. Evercore cut their price objective on Docusign from $92.00 to $80.00 and set an “in-line” rating for the company in a report on Friday, December 5th. BTIG Research initiated coverage on shares of Docusign in a research note on Tuesday, December 16th. They issued a “buy” rating and a $88.00 target price for the company. Zacks Research lowered shares of Docusign from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 24th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Docusign in a research report on Wednesday, January 21st. Six analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $84.00.

Docusign Stock Performance

The firm has a fifty day simple moving average of $61.01 and a 200-day simple moving average of $68.69. The firm has a market cap of $8.98 billion, a price-to-earnings ratio of 31.34, a P/E/G ratio of 1.91 and a beta of 1.00.

Insider Activity at Docusign

In related news, insider James P. Shaughnessy sold 12,000 shares of Docusign stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $67.03, for a total transaction 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. The trade was a 18.03% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Blake Jeffrey Grayson sold 6,500 shares of the company’s stock in a transaction dated Friday, January 9th. The shares were sold at an average price of $70.00, for a total transaction of $455,000.00. Following the completion of the transaction, the chief financial officer owned 111,713 shares in the company, valued at approximately $7,819,910. This trade represents a 5.50% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 78,292 shares of company stock worth $5,374,260 in the last quarter. 1.01% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Docusign

A number of large investors have recently made changes to their positions in the company. Central Pacific Bank Trust Division acquired a new position in Docusign in the 4th quarter valued at $25,000. Modus Advisors LLC bought a new stake in shares of Docusign in the fourth quarter valued at about $27,000. Torren Management LLC bought a new stake in shares of Docusign in the fourth quarter valued at about $28,000. True Wealth Design LLC grew its stake in shares of Docusign by 105.2% in the fourth quarter. True Wealth Design LLC now owns 433 shares of the company’s stock valued at $30,000 after acquiring an additional 222 shares in the last quarter. Finally, Aventura Private Wealth LLC bought a new position in Docusign during the fourth quarter worth about $30,000. Institutional investors 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.