Zacks Investment Research lowered shares of Docusign (NASDAQ:DOCU) from a buy rating to a hold rating in a report released on Tuesday morning, Zacks.com reports.

According to Zacks, “DocuSign Inc. provides e-signature solutions. The Company offers services to mortgage, non-profit, government, real estate, insurance, technology and healthcare industries. Its product portfolio includes trial, single-user, multi-user, business pro, enterprise pro, standards-based signatures, ehanko, DocuSign transaction rooms for real estate, DocuSign payments and enotary. DocuSign Inc. is based in San Francisco, United States. “

DOCU has been the topic of several other reports. Wedbush set a $17.00 price objective on Zumiez and gave the company a sell rating in a report on Friday, June 7th. ValuEngine raised Zogenix from a buy rating to a strong-buy rating in a report on Thursday, June 27th. FBN Securities initiated coverage on Docusign in a report on Tuesday, July 9th. They issued an outperform rating and a $60.00 price objective on the stock. Finally, William Blair reissued an outperform rating on shares of Vail Resorts in a report on Friday, June 7th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $60.91.

Docusign stock opened at $54.68 on Tuesday. The firm has a market capitalization of $9.50 billion, a price-to-earnings ratio of -18.86 and a beta of 1.30. Docusign has a 52 week low of $35.06 and a 52 week high of $68.35. The business’s 50-day moving average is $51.61. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.76 and a current ratio of 1.76.

Docusign (NASDAQ:DOCU) last posted its earnings results on Thursday, June 6th. The company reported $0.07 EPS for the quarter, topping the consensus estimate of ($0.23) by $0.30. Docusign had a negative return on equity of 22.27% and a negative net margin of 26.54%. The firm had revenue of $213.96 million for the quarter, compared to analyst estimates of $208.15 million. During the same period last year, the company earned $0.01 earnings per share. Docusign’s revenue for the quarter was up 37.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Docusign will post -0.99 earnings per share for the current fiscal year.

In related news, insider Kirsten O. Wolberg sold 7,877 shares of the business’s stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $50.93, for a total transaction of $401,175.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Peter Solvik sold 541,532 shares of the business’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $51.52, for a total value of $27,899,728.64. The disclosure for this sale can be found here. Insiders sold 600,988 shares of company stock valued at $31,067,181 over the last ninety days. Insiders own 13.60% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Berkeley Capital Partners LLC acquired a new position in shares of Docusign during the 1st quarter worth about $546,000. Emerald Advisers LLC acquired a new position in shares of Docusign during the 1st quarter worth about $824,000. Hamilton Lane Advisors LLC boosted its position in shares of Docusign by 118.0% during the 1st quarter. Hamilton Lane Advisors LLC now owns 852,457 shares of the company’s stock worth $44,191,000 after acquiring an additional 461,404 shares in the last quarter. Clearbridge Investments LLC boosted its position in shares of Docusign by 8.7% during the 1st quarter. Clearbridge Investments LLC now owns 1,677,883 shares of the company’s stock worth $86,981,000 after acquiring an additional 134,932 shares in the last quarter. Finally, Jupiter Wealth Management LLC acquired a new position in shares of Docusign during the 1st quarter worth about $316,000. 61.25% of the stock is owned by hedge funds and other institutional investors.

Docusign Company Profile

DocuSign, Inc provides cloud based software in the United States. The company offers e-signature solution that enables businesses to digitally prepare, execute, and act on agreements. The company sells its products through direct, partner-assisted, and Web-based sales. It serves enterprise businesses, commercial businesses, and small businesses, such as professionals, sole proprietorships and individuals.

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