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

DocuSign, Inc. (NASDAQ:DOCU) was the recipient of a significant decline in short interest in November. As of November 15th, there was short interest totalling 13,570,000 shares, a decline of 5.4% from the October 31st total of 14,350,000 shares. Based on an average daily trading volume, of 3,410,000 shares, the days-to-cover ratio is presently 4.0 days.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. JPMorgan Chase & Co. boosted their target price on DocuSign from $50.00 to $70.00 and gave the stock an “underweight” rating in a research report on Tuesday. Citigroup boosted their price target on 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 boosted their price target on DocuSign from $52.00 to $57.00 and gave the stock a “sector perform” rating in a report on Friday, September 6th. Wells Fargo & Company boosted their price target on DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a report on Friday, September 6th. Finally, Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a report on Friday, September 6th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three 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 price target of $70.73.

DocuSign Stock Up 4.4 %

DOCU opened at $83.99 on Thursday. The firm has a market cap of $17.05 billion, a PE ratio of 17.72, a P/E/G ratio of 8.31 and a beta of 0.92. The business has a fifty day simple moving average of $73.33 and a 200-day simple moving average of $61.52. DocuSign has a fifty-two week low of $44.34 and a fifty-two week high of $86.75.

DocuSign (NASDAQ:DOCU) last released its quarterly earnings data on Thursday, September 5th. The company reported $0.97 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $727.20 million. During the same quarter last year, the firm earned $0.09 earnings per share. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, equities research analysts anticipate that DocuSign will post 1.03 EPS for the current fiscal year.

Insider Activity at DocuSign

In other DocuSign news, insider Robert Chatwani sold 14,799 shares of the business’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $55.46, for a total transaction of $820,752.54. Following the sale, the insider now directly owns 70,748 shares in the company, valued at approximately $3,923,684.08. The trade was a 17.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Teresa Briggs sold 534 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $56.56, for a total value of $30,203.04. Following the sale, the director now owns 7,202 shares in the company, valued at approximately $407,345.12. The trade was a 6.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 69,596 shares of company stock worth $4,441,529 over the last three months. 1.66% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On DocuSign

Large investors have recently made changes to their positions in the business. Massmutual Trust Co. FSB ADV lifted its position 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 worth $27,000 after purchasing an additional 500 shares during the last quarter. Itau Unibanco Holding S.A. bought a new position in DocuSign during the third quarter valued at about $28,000. Mather Group LLC. increased its stake in DocuSign by 4,338.5% during the second quarter. Mather Group LLC. now owns 577 shares of the company’s stock valued at $31,000 after acquiring an additional 564 shares during the period. Brooklyn Investment Group bought a new position in DocuSign during the third quarter valued at about $33,000. Finally, Reston Wealth Management LLC bought a new position in DocuSign during the third quarter valued at about $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.