DocuSign Target of Unusually High Options Trading (NASDAQ:DOCU)

DocuSign, Inc. (NASDAQ:DOCU) saw some unusual options trading on Tuesday. Investors bought 24,012 call options on the company. This is an increase of 62% compared to the typical volume of 14,793 call options.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on DOCU shares. Robert W. Baird boosted their target price on shares of DocuSign from $59.00 to $100.00 and gave the company a “neutral” rating in a report on Friday. JMP Securities raised their target price on DocuSign from $108.00 to $124.00 and gave the company a “market outperform” rating in a report on Friday. Citigroup raised their price target on DocuSign from $87.00 to $113.00 and gave the stock a “buy” rating in a research report on Friday. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a report on Friday. Finally, Wells Fargo & Company boosted their price objective on shares of DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a research note on Friday. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, DocuSign currently has a consensus rating of “Hold” and an average target price of $92.45.

DocuSign Stock Down 4.4 %

DOCU stock traded down $4.73 during mid-day trading on Tuesday, reaching $102.26. The company had a trading volume of 6,538,879 shares, compared to its average volume of 2,968,438. The stock’s 50-day simple moving average is $75.46 and its two-hundred day simple moving average is $62.36. The stock has a market capitalization of $20.76 billion, a P/E ratio of 21.08, a P/E/G ratio of 11.08 and a beta of 0.92. DocuSign has a one year low of $48.70 and a one year high of $107.86.

Insider Activity at DocuSign

In related news, CEO Allan C. Thygesen sold 7,763 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $80.54, for a total transaction of $625,232.02. Following the completion of the sale, the chief executive officer now directly owns 100,062 shares in the company, valued at $8,058,993.48. This represents a 7.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Teresa Briggs sold 534 shares of the business’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 approximately $407,345.12. This trade represents a 6.90 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 69,596 shares of company stock valued at $4,441,529. Insiders own 1.66% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in DOCU. J.W. Cole Advisors Inc. raised its stake in shares of DocuSign by 2.0% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 7,946 shares of the company’s stock worth $493,000 after buying an additional 155 shares in the last quarter. Resonant Capital Advisors LLC increased its position in shares of DocuSign by 0.9% in the third quarter. Resonant Capital Advisors LLC now owns 17,516 shares of the company’s stock worth $1,088,000 after acquiring an additional 157 shares in the last quarter. Optimist Retirement Group LLC boosted its stake in DocuSign by 3.8% in the 3rd quarter. Optimist Retirement Group LLC now owns 4,416 shares of the company’s stock worth $274,000 after purchasing an additional 161 shares during the period. V Square Quantitative Management LLC grew its position in DocuSign by 6.0% during the 3rd quarter. V Square Quantitative Management LLC now owns 3,019 shares of the company’s stock worth $187,000 after purchasing an additional 172 shares in the last quarter. Finally, Dakota Wealth Management boosted its position in DocuSign by 0.8% during the 2nd quarter. Dakota Wealth Management now owns 23,022 shares of the company’s stock worth $1,232,000 after acquiring an additional 181 shares during the period. 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.