DocuSign, Inc. (NASDAQ:DOCU) Short Interest Update

DocuSign, Inc. (NASDAQ:DOCU) was the target of a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 14,350,000 shares, a decrease of 6.8% from the October 15th total of 15,390,000 shares. Based on an average trading volume of 3,210,000 shares, the short-interest ratio is currently 4.5 days.

Insider Buying and Selling

In other DocuSign news, Director Teresa Briggs sold 534 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $56.56, for a total value of $30,203.04. Following the transaction, the director now owns 7,202 shares of the company’s stock, valued at approximately $407,345.12. The trade was a 6.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Allan C. Thygesen sold 7,764 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $69.95, for a total value of $543,091.80. Following the completion of the sale, the chief executive officer now owns 107,825 shares of the company’s stock, valued at approximately $7,542,358.75. This trade represents a 6.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 69,558 shares of company stock worth $4,272,768 in the last three months. Insiders own 1.66% of the company’s stock.

Hedge Funds Weigh In On DocuSign

Several institutional investors and hedge funds have recently modified their holdings of the business. Massmutual Trust Co. FSB ADV raised its position in DocuSign by 5,000.0% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company’s stock valued at $27,000 after buying an additional 500 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new position in DocuSign during the third quarter valued at approximately $28,000. Mather Group LLC. increased its position in shares of DocuSign by 4,338.5% during the 2nd quarter. Mather Group LLC. now owns 577 shares of the company’s stock worth $31,000 after purchasing an additional 564 shares during the last quarter. Brooklyn Investment Group acquired a new position in shares of DocuSign during the 3rd quarter worth approximately $33,000. Finally, Reston Wealth Management LLC bought a new stake in shares of DocuSign during the 3rd quarter worth approximately $47,000. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on DOCU. Wells Fargo & Company upped their target price on shares of DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a research report on Friday, September 6th. Royal Bank of Canada increased their price objective on DocuSign from $52.00 to $57.00 and gave the company a “sector perform” rating in a research report on Friday, September 6th. Robert W. Baird boosted their target price on DocuSign from $55.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a research note on Friday, September 6th. Finally, Bank of America lifted their price objective on DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $63.40.

DocuSign Price Performance

Shares of DOCU stock opened at $79.52 on Wednesday. The stock has a market cap of $16.14 billion, a PE ratio of 16.78, a price-to-earnings-growth ratio of 8.37 and a beta of 0.90. The stock has a 50-day moving average of $67.50 and a 200-day moving average of $59.66. DocuSign has a one year low of $42.12 and a one year high of $83.68.

DocuSign (NASDAQ:DOCU) last issued its earnings results on Thursday, September 5th. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.80 by $0.17. The firm had revenue of $736.03 million during the quarter, compared to the consensus estimate of $727.20 million. DocuSign had a net margin of 34.56% and a return on equity of 16.18%. The business’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.09 earnings per share. As a group, research analysts anticipate that DocuSign will post 1.01 earnings per share for the current year.

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.