DocuSign, Inc. (NASDAQ:DOCU) Short Interest Down 13.5% in March

DocuSign, Inc. (NASDAQ:DOCU) was the target of a significant decrease in short interest in March. As of March 15th, there was short interest totalling 6,790,000 shares, a decrease of 13.5% from the February 28th total of 7,850,000 shares. Based on an average daily volume of 2,650,000 shares, the days-to-cover ratio is presently 2.6 days. Currently, 3.4% of the company’s stock are short sold.

Insiders Place Their Bets

In other news, insider Robert Chatwani sold 15,706 shares of the company’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $83.19, for a total value of $1,306,582.14. Following the sale, the insider now directly owns 76,842 shares of the company’s stock, valued at $6,392,485.98. This represents a 16.97 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider James P. Shaughnessy sold 7,500 shares of DocuSign stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $81.31, for a total transaction of $609,825.00. Following the transaction, the insider now directly owns 45,875 shares of the company’s stock, valued at approximately $3,730,096.25. This trade represents a 14.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 57,851 shares of company stock worth $4,911,319. 1.66% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On DocuSign

A number of institutional investors and hedge funds have recently bought and sold shares of DOCU. Citizens Financial Group Inc. RI raised its stake in DocuSign by 2.3% during the 4th quarter. Citizens Financial Group Inc. RI now owns 5,990 shares of the company’s stock valued at $539,000 after purchasing an additional 133 shares during the period. Rakuten Securities Inc. grew its holdings in DocuSign by 20.9% during the 4th quarter. Rakuten Securities Inc. now owns 797 shares of the company’s stock valued at $72,000 after buying an additional 138 shares in the last quarter. Synergy Financial Group LTD raised its position in shares of DocuSign by 3.4% during the fourth quarter. Synergy Financial Group LTD now owns 4,241 shares of the company’s stock valued at $381,000 after buying an additional 140 shares during the last quarter. M&T Bank Corp lifted its holdings in shares of DocuSign by 1.3% in the fourth quarter. M&T Bank Corp now owns 10,840 shares of the company’s stock worth $975,000 after buying an additional 143 shares in the last quarter. Finally, TD Waterhouse Canada Inc. boosted its position in shares of DocuSign by 34.5% during the fourth quarter. TD Waterhouse Canada Inc. now owns 557 shares of the company’s stock worth $50,000 after acquiring an additional 143 shares during the last quarter. 77.64% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Robert W. Baird set a $93.00 target price on DocuSign in a report on Friday, March 14th. Hsbc Global Res raised DocuSign to a “moderate sell” rating in a report on Friday, December 6th. Bank of America cut their price objective on DocuSign from $112.00 to $98.00 and set a “neutral” rating for the company in a report on Friday, March 14th. HSBC reiterated a “reduce” rating on shares of DocuSign in a research report on Friday, December 6th. Finally, William Blair raised DocuSign from a “market perform” rating to an “outperform” rating in a research report on Monday, March 17th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $95.83.

DocuSign Trading Down 6.8 %

DocuSign stock traded down $5.66 during midday trading on Thursday, hitting $77.74. The stock had a trading volume of 268,900 shares, compared to its average volume of 2,681,604. DocuSign has a 52-week low of $48.70 and a 52-week high of $107.86. The company has a market capitalization of $15.74 billion, a PE ratio of 16.06, a P/E/G ratio of 6.94 and a beta of 1.02. The firm’s fifty day moving average is $86.67 and its two-hundred day moving average is $81.91.

DocuSign (NASDAQ:DOCU) last announced its quarterly earnings data on Thursday, March 13th. The company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.02. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. The firm had revenue of $776.25 million during the quarter, compared to analysts’ expectations of $760.94 million. During the same period in the prior year, the company posted $0.76 earnings per share. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. As a group, equities research analysts predict that DocuSign will post 1.17 earnings per share for the current fiscal 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.