DocuSign, Inc. (NASDAQ:DOCU) Short Interest Down 21.4% in January

DocuSign, Inc. (NASDAQ:DOCU) was the target of a large decrease in short interest during the month of January. As of January 15th, there was short interest totalling 8,690,000 shares, a decrease of 21.4% from the December 31st total of 11,050,000 shares. Based on an average daily trading volume, of 3,950,000 shares, the days-to-cover ratio is presently 2.2 days.

Insider Buying and Selling at DocuSign

In related news, CFO Blake Jeffrey Grayson sold 8,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $94.77, for a total transaction of $758,160.00. Following the completion of the sale, the chief financial officer now owns 101,439 shares in the company, valued at approximately $9,613,374.03. This trade represents a 7.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Allan C. Thygesen sold 7,763 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $80.54, for a total transaction of $625,232.02. Following the completion of the transaction, the chief executive officer now owns 100,062 shares in the company, valued at approximately $8,058,993.48. The trade was a 7.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 693,537 shares of company stock worth $66,575,817. Corporate insiders own 1.66% of the company’s stock.

Hedge Funds Weigh In On DocuSign

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Toronto Dominion Bank lifted its holdings in shares of DocuSign by 30.3% during the 3rd quarter. Toronto Dominion Bank now owns 26,159 shares of the company’s stock worth $1,624,000 after acquiring an additional 6,081 shares during the last quarter. Inspire Investing LLC purchased a new stake in DocuSign during the third quarter valued at about $911,000. Charles Schwab Investment Management Inc. lifted its stake in DocuSign by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,328,355 shares of the company’s stock worth $82,478,000 after purchasing an additional 16,014 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in shares of DocuSign by 5,660.8% in the 3rd quarter. International Assets Investment Management LLC now owns 438,914 shares of the company’s stock worth $27,252,000 after purchasing an additional 431,295 shares in the last quarter. Finally, Quantinno Capital Management LP increased its position in shares of DocuSign by 39.5% during the 3rd quarter. Quantinno Capital Management LP now owns 201,546 shares of the company’s stock valued at $12,514,000 after purchasing an additional 57,104 shares during the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on DOCU shares. Robert W. Baird raised their target price on DocuSign from $59.00 to $100.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a research note on Friday, December 6th. Piper Sandler increased their target price on shares of DocuSign from $60.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. JMP Securities reissued a “market outperform” rating and issued a $124.00 price target on shares of DocuSign in a research report on Tuesday, January 7th. Finally, HSBC reaffirmed a “reduce” rating on shares of DocuSign in a report on Friday, December 6th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $92.45.

DocuSign Price Performance

Shares of NASDAQ:DOCU traded up $0.47 on Thursday, hitting $95.93. The company’s stock had a trading volume of 1,140,087 shares, compared to its average volume of 2,064,342. The company has a market capitalization of $19.38 billion, a PE ratio of 19.74, a PEG ratio of 8.30 and a beta of 0.88. The company has a 50-day simple moving average of $90.73 and a 200 day simple moving average of $72.41. DocuSign has a 1 year low of $48.70 and a 1 year high of $107.86.

DocuSign Company Profile

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.