Docusign (NASDAQ:DOCU) Hits New 1-Year Low – Time to Sell?

Docusign Inc. (NASDAQ:DOCU)’s stock price hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $55.42 and last traded at $55.5180, with a volume of 625085 shares traded. The stock had previously closed at $57.66.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on DOCU. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Docusign in a research note on Wednesday, January 21st. Wells Fargo & Company reduced 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 report on Friday, December 5th. Zacks Research lowered shares of Docusign from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 24th. BTIG Research started coverage on shares of Docusign in a research report on Tuesday, December 16th. They set a “buy” rating and a $88.00 price target for the company. Finally, Royal Bank Of Canada cut their price objective on shares of Docusign from $95.00 to $70.00 and set a “sector perform” rating on the stock in a report on Monday, January 5th. Six equities research analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $85.13.

Docusign Price Performance

The firm’s 50 day moving average price is $65.66 and its 200-day moving average price is $71.13. The stock has a market cap of $10.77 billion, a P/E ratio of 39.59, a P/E/G ratio of 2.77 and a beta of 0.99.

Insiders Place Their Bets

In other news, insider James P. Shaughnessy sold 12,000 shares of the company’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $67.03, for a total transaction of $804,360.00. Following the transaction, the insider directly owned 54,550 shares of the company’s stock, valued at $3,656,486.50. This represents a 18.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Robert Chatwani sold 13,818 shares of the stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $68.33, for a total value of $944,183.94. Following the sale, the insider directly owned 70,197 shares in the company, valued at $4,796,561.01. This trade represents a 16.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 78,292 shares of company stock worth $5,374,260. 1.01% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. S.A. Mason LLC purchased a new stake in Docusign during the 4th quarter valued at $217,000. Kestra Private Wealth Services LLC increased its holdings in Docusign by 9.3% in the 4th quarter. Kestra Private Wealth Services LLC now owns 10,140 shares of the company’s stock worth $694,000 after acquiring an additional 859 shares in the last quarter. Inscription Capital LLC raised its position in shares of Docusign by 116.9% during the 4th quarter. Inscription Capital LLC now owns 16,738 shares of the company’s stock valued at $1,145,000 after purchasing an additional 9,020 shares during the period. Sanctuary Advisors LLC raised its holdings in Docusign by 2.4% during the fourth quarter. Sanctuary Advisors LLC now owns 9,685 shares of the company’s stock valued at $662,000 after acquiring an additional 231 shares during the period. Finally, Resonant Capital Advisors LLC raised its stake in Docusign by 3.0% during the 4th quarter. Resonant Capital Advisors LLC now owns 18,483 shares of the company’s stock valued at $1,264,000 after purchasing an additional 533 shares during the period. 77.64% of the stock is owned by hedge funds and other institutional investors.

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.