DocuSign, Inc. (NASDAQ:DOCU) Short Interest Up 62.9% in October

DocuSign, Inc. (NASDAQ:DOCU) was the target of a large growth in short interest during the month of 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 daily volume of 3,080,000 shares, the short-interest ratio is currently 5.0 days.

Insider Activity at DocuSign

In other DocuSign news, CEO Allan C. Thygesen sold 7,725 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $54.89, for a total value of $424,025.25. Following the sale, the chief executive officer now owns 109,918 shares in the company, valued at $6,033,399.02. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Daniel D. Springer sold 287,052 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were 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 of the company’s stock, valued at $49,662,872.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Allan C. Thygesen sold 7,725 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $54.89, for a total transaction of $424,025.25. Following the sale, the chief executive officer now directly owns 109,918 shares in the company, valued at approximately $6,033,399.02. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 427,554 shares of company stock worth $23,129,150. Insiders own 1.66% of the company’s stock.

Institutional Investors Weigh In On DocuSign

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

DocuSign Trading Up 0.9 %

DOCU stock opened at $69.58 on Tuesday. DocuSign has a 1-year low of $38.11 and a 1-year high of $73.80. The stock has a 50-day moving average price of $62.12 and a 200-day moving average price of $57.70. The firm has a market cap of $14.24 billion, a PE ratio of 133.81, a price-to-earnings-growth ratio of 7.33 and a beta of 0.92.

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, beating the consensus estimate of $0.80 by $0.17. The firm had revenue of $736.03 million for the quarter, compared to analyst estimates of $727.20 million. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. The company’s revenue was up 7.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.09 earnings per share. On average, analysts forecast that DocuSign will post 1.01 earnings per share for the current year.

Wall Street Analyst Weigh In

DOCU has been the topic of a number of research reports. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a research report on Friday, September 6th. Royal Bank of Canada upped 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. Wells Fargo & Company lifted their target price on shares of DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a research report on Friday, September 6th. JMP Securities restated a “market outperform” rating and issued a $84.00 price target on shares of DocuSign in a research report on Thursday, September 5th. Finally, Citigroup lifted their price target on shares of DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, DocuSign presently has an average rating of “Hold” and a consensus price target 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.