DocuSign (NASDAQ:DOCU) Stock Price Up 6.4% – Time to Buy?

DocuSign, Inc. (NASDAQ:DOCU) shares shot up 6.4% during mid-day trading on Tuesday . The company traded as high as $96.90 and last traded at $98.21. 455,777 shares were traded during mid-day trading, a decline of 77% from the average session volume of 1,968,344 shares. The stock had previously closed at $92.26.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on DOCU shares. Piper Sandler upped their price objective on shares of DocuSign from $60.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Wells Fargo & Company raised their price target on shares of DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a research report on Friday, December 6th. UBS Group raised their target price on DocuSign from $60.00 to $100.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a report on Friday, December 6th. Finally, Hsbc Global Res raised shares of DocuSign to a “moderate sell” rating in a research report on Friday, December 6th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, DocuSign presently has a consensus rating of “Hold” and a consensus price target of $92.45.

DocuSign Stock Up 0.4 %

The company has a 50-day moving average price of $90.73 and a two-hundred day moving average price of $72.41. The company has a market capitalization of $19.36 billion, a PE ratio of 19.76, a PEG ratio of 8.30 and a beta of 0.88.

Insider Transactions at DocuSign

In other DocuSign news, Director Teresa Briggs sold 534 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $94.60, for a total transaction of $50,516.40. Following the sale, the director now owns 7,736 shares in the company, valued at $731,825.60. This trade represents a 6.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Peter Solvik sold 10,000 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $91.26, for a total value of $912,600.00. Following the transaction, the director now owns 150,253 shares in the company, valued at $13,712,088.78. This trade represents a 6.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 693,537 shares of company stock valued at $66,575,817. 1.66% of the stock is currently owned by company insiders.

Institutional Trading of DocuSign

Hedge funds and other institutional investors have recently bought and sold shares of the company. Itau Unibanco Holding S.A. bought a new stake in shares of DocuSign in the 3rd quarter worth approximately $28,000. Brooklyn Investment Group bought a new stake in DocuSign in the third quarter worth $33,000. Modus Advisors LLC purchased a new stake in DocuSign during the fourth quarter valued at about $36,000. Avion Wealth grew its stake in shares of DocuSign by 309.2% during the fourth quarter. Avion Wealth now owns 487 shares of the company’s stock valued at $43,000 after buying an additional 368 shares during the last quarter. Finally, Reston Wealth Management LLC purchased a new position in shares of DocuSign in the third quarter worth about $47,000. Hedge funds and other institutional investors 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.