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

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

DocuSign Stock Up 1.5 %

DOCU stock opened at $79.52 on Wednesday. The company’s 50-day moving average price is $67.50 and its two-hundred day moving average price is $59.66. The firm has a market cap of $16.14 billion, a P/E ratio of 16.78, a P/E/G ratio of 8.37 and a beta of 0.90. DocuSign has a 12 month low of $42.12 and a 12 month high of $83.68.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Bank of America upped their price target on shares of DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Wells Fargo & Company increased their target price on DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a research note on Friday, September 6th. Citigroup boosted their price target on DocuSign from $86.00 to $87.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a research report on Friday, September 6th. Finally, Royal Bank of Canada lifted their target price on DocuSign from $52.00 to $57.00 and gave the stock a “sector perform” rating in a report on Friday, September 6th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $63.40.

Insider Activity at DocuSign

In related news, Director Teresa Briggs sold 534 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $56.56, for a total transaction of $30,203.04. Following the transaction, the director now directly owns 7,202 shares of the company’s stock, valued at approximately $407,345.12. The trade was a 6.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Allan C. Thygesen sold 7,725 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $59.09, for a total value of $456,470.25. Following the sale, the chief executive officer now directly owns 102,193 shares of the company’s stock, valued at $6,038,584.37. This represents a 7.03 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 69,558 shares of company stock worth $4,272,768. Insiders own 1.66% of the company’s stock.

Institutional Trading of DocuSign

Hedge funds have recently added to or reduced their stakes in the stock. Massmutual Trust Co. FSB ADV boosted its holdings in shares of DocuSign by 5,000.0% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company’s stock valued at $27,000 after acquiring an additional 500 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new stake in shares of DocuSign during the third quarter valued at about $28,000. Mather Group LLC. grew its holdings in shares of 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 purchasing an additional 564 shares during the last quarter. Brooklyn Investment Group acquired a new position in shares of DocuSign in the third quarter valued at approximately $33,000. Finally, Reston Wealth Management LLC bought a new position in DocuSign in the 3rd quarter valued at approximately $47,000. Institutional investors and hedge funds own 77.64% of the company’s stock.

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.