DocuSign, Inc. (NASDAQ:DOCU) Sees Significant Increase in Short Interest

DocuSign, Inc. (NASDAQ:DOCU) was the target of a significant increase in short interest during the month of October. As of October 15th, there was short interest totalling 15,390,000 shares, an increase 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 short-interest ratio is presently 5.0 days.

Wall Street Analysts Forecast Growth

DOCU has been the topic of a number of research analyst reports. Citigroup boosted 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. Royal Bank of Canada raised their price objective on DocuSign from $52.00 to $57.00 and gave the company a “sector perform” rating in a research note on Friday, September 6th. JMP Securities reiterated a “market outperform” rating and set a $84.00 target price on shares of DocuSign in a research report on Thursday, September 5th. Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a research note on Friday, September 6th. Finally, Wells Fargo & Company increased their price objective on shares of 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 assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, DocuSign has an average rating of “Hold” and an average price target of $63.40.

Insider Transactions at DocuSign

In other news, Director Daniel D. Springer sold 70,983 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $49.84, for a total value of $3,537,792.72. Following the transaction, the director now owns 891,373 shares of the company’s stock, valued at approximately $44,426,030.32. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Teresa Briggs sold 534 shares of the company’s stock in a transaction 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 owns 7,202 shares of the company’s stock, valued at $407,345.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Daniel D. Springer sold 70,983 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $49.84, for a total value of $3,537,792.72. Following the completion of the transaction, the director now owns 891,373 shares of the company’s stock, valued at $44,426,030.32. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 427,554 shares of company stock worth $23,129,150. Insiders own 1.66% of the company’s stock.

Hedge Funds Weigh In On DocuSign

Several institutional investors and hedge funds have recently bought and sold shares of DOCU. Inspire Investing LLC acquired a new position in shares of DocuSign in the 3rd quarter valued at about $911,000. Comerica Bank grew its stake in DocuSign by 228.8% during the first quarter. Comerica Bank now owns 28,901 shares of the company’s stock worth $1,721,000 after buying an additional 20,110 shares during the period. Retirement Systems of Alabama acquired a new stake in shares of DocuSign in the first quarter worth $8,700,000. PGGM Investments raised its stake in shares of DocuSign by 36.7% in the 2nd quarter. PGGM Investments now owns 49,812 shares of the company’s stock valued at $2,665,000 after acquiring an additional 13,379 shares during the period. Finally, Claro Advisors LLC acquired a new position in shares of DocuSign during the 3rd quarter valued at $727,000. Institutional investors and hedge funds own 77.64% of the company’s stock.

DocuSign Stock Down 2.3 %

DOCU stock opened at $68.99 on Friday. The stock has a market capitalization of $14.12 billion, a price-to-earnings ratio of 132.67, a price-to-earnings-growth ratio of 7.33 and a beta of 0.92. DocuSign has a 52-week low of $38.11 and a 52-week high of $73.80. The stock’s fifty day simple moving average is $61.87 and its 200-day simple moving average is $57.66.

DocuSign (NASDAQ:DOCU) last issued its quarterly earnings results on Thursday, September 5th. The company reported $0.97 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $727.20 million. During the same period last year, the company earned $0.09 EPS. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. As a group, analysts anticipate that DocuSign will post 1.01 earnings per share for the current fiscal year.

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.