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

DocuSign, Inc. (NASDAQ:DOCU) saw a significant growth in short interest in October. As of October 15th, there was short interest totalling 15,390,000 shares, a growth of 62.9% from the September 30th total of 9,450,000 shares. Based on an average trading volume of 3,080,000 shares, the days-to-cover ratio is currently 5.0 days.

DocuSign Price Performance

DOCU opened at $68.99 on Friday. DocuSign has a 12 month low of $38.11 and a 12 month high of $73.80. The stock’s 50 day moving average price is $61.87 and its 200 day moving average price is $57.66. The stock has a market cap of $14.12 billion, a P/E ratio of 132.67, a P/E/G ratio of 7.33 and a beta of 0.92.

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

Insider Buying and Selling at DocuSign

In other news, Director Teresa Briggs sold 534 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $56.56, for a total value of $30,203.04. Following the completion of the transaction, the director now directly owns 7,202 shares in the company, valued at approximately $407,345.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other DocuSign news, Director Teresa Briggs sold 534 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $56.56, for a total value of $30,203.04. Following the completion of the transaction, the director now directly owns 7,202 shares of the company’s stock, valued at $407,345.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Daniel D. Springer sold 287,052 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $53.78, for a total value of $15,437,656.56. Following the completion of the transaction, the director now owns 923,445 shares in the company, valued at approximately $49,662,872.10. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 427,554 shares of company stock valued at $23,129,150 over the last 90 days. 1.66% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On DocuSign

Hedge funds and other institutional investors have recently bought and sold shares of the business. Massmutual Trust Co. FSB ADV grew its stake in shares of DocuSign by 5,000.0% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company’s stock worth $27,000 after purchasing an additional 500 shares during the last quarter. Mather Group LLC. increased its position in DocuSign by 4,338.5% during the second quarter. Mather Group LLC. now owns 577 shares of the company’s stock worth $31,000 after buying an additional 564 shares during the last quarter. Register Financial Advisors LLC acquired a new position in shares of DocuSign during the 1st quarter valued at about $37,000. nVerses Capital LLC bought a new position in shares of DocuSign in the second quarter valued at approximately $48,000. Finally, Quarry LP bought a new position in DocuSign in the 2nd quarter worth $53,000. 77.64% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on DOCU. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a research note on Friday, September 6th. Citigroup lifted their price objective on shares of DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Robert W. Baird raised their price target on shares of DocuSign from $55.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. JMP Securities reiterated a “market outperform” rating and set a $84.00 price objective on shares of DocuSign in a research note on Thursday, September 5th. Finally, Wells Fargo & Company lifted their target price on DocuSign from $48.00 to $50.00 and gave the company an “underweight” rating in a research note on Friday, September 6th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, DocuSign presently has a consensus rating of “Hold” and an average target price of $63.40.

About DocuSign

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.