DocuSign, Inc. (NASDAQ:DOCU) Sees Large Decrease in Short Interest

DocuSign, Inc. (NASDAQ:DOCU - Get Free Report) was the recipient of a large decrease in short interest in the month of October. As of October 31st, there was short interest totalling 14,350,000 shares, a decrease of 6.8% from the October 15th total of 15,390,000 shares. Based on an average daily volume of 3,210,000 shares, the days-to-cover ratio is currently 4.5 days.

DocuSign Trading Down 0.9 %

Shares of NASDAQ:DOCU traded down $0.74 during trading on Monday, reaching $78.37. The company had a trading volume of 1,852,060 shares, compared to its average volume of 2,878,765. The company has a fifty day moving average of $67.05 and a two-hundred day moving average of $59.52. The stock has a market capitalization of $15.91 billion, a P/E ratio of 16.53, a price-to-earnings-growth ratio of 8.37 and a beta of 0.90. DocuSign has a 12 month low of $42.12 and a 12 month high of $83.68.

DocuSign (NASDAQ:DOCU - Get Free Report) last released its quarterly earnings results on Thursday, September 5th. The company reported $0.97 earnings per share for the quarter, beating analysts' consensus estimates of $0.80 by $0.17. The business had revenue of $736.03 million for the quarter, compared to the consensus estimate of $727.20 million. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. The company's revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter last year, the business posted $0.09 earnings per share. As a group, equities research analysts predict that DocuSign will post 1.01 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Robert W. Baird lifted their price objective on shares of DocuSign from $55.00 to $59.00 and gave the company a "neutral" rating in a research note on Friday, September 6th. Wells Fargo & Company increased their price objective on DocuSign from $48.00 to $50.00 and gave the stock an "underweight" rating in a report on Friday, September 6th. Royal Bank of Canada raised their target price on DocuSign from $52.00 to $57.00 and gave the stock a "sector perform" rating in a research note on Friday, September 6th. Needham & Company LLC reiterated a "hold" rating on shares of DocuSign in a research report on Friday, September 6th. Finally, Citigroup raised their price objective on shares of DocuSign from $86.00 to $87.00 and gave the company a "buy" rating in a research report on Friday, September 6th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $63.40.

Insider Buying and Selling at DocuSign

In related news, CFO Blake Jeffrey Grayson sold 9,552 shares of the business's stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $68.80, for a total value of $657,177.60. Following the sale, the chief financial officer now directly owns 78,265 shares in the company, valued at approximately $5,384,632. The trade was a 10.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Allan C. Thygesen sold 7,725 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $59.09, for a total transaction of $456,470.25. Following the transaction, the chief executive officer now owns 102,193 shares of the company's stock, valued at $6,038,584.37. This represents a 7.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 69,558 shares of company stock worth $4,272,768 in the last quarter. 1.66% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On DocuSign

Institutional investors have recently made changes to their positions in the business. State Street Corp lifted its stake in DocuSign by 2.3% in the third quarter. State Street Corp now owns 5,372,939 shares of the company's stock worth $333,604,000 after purchasing an additional 120,743 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of DocuSign by 1.9% in the 2nd quarter. American Century Companies Inc. now owns 4,099,400 shares of the company's stock valued at $219,318,000 after acquiring an additional 75,026 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in DocuSign by 18.3% during the 2nd quarter. Renaissance Technologies LLC now owns 3,729,314 shares of the company's stock valued at $199,518,000 after acquiring an additional 576,414 shares during the period. Pacer Advisors Inc. grew its position in DocuSign by 77.9% during the 2nd quarter. Pacer Advisors Inc. now owns 3,519,969 shares of the company's stock worth $188,318,000 after acquiring an additional 1,541,816 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in DocuSign by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 3,483,184 shares of the company's stock worth $215,789,000 after purchasing an additional 53,554 shares during the period. Hedge funds and other institutional investors 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.