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

DocuSign, Inc. (NASDAQ:DOCU - Get Free Report) was the target of a large increase in short interest in 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 daily volume of 3,080,000 shares, the days-to-cover ratio is currently 5.0 days.

Insider Activity

In related news, CEO Allan C. Thygesen sold 7,725 shares of the business's stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $54.89, for a total value of $424,025.25. Following the completion of the sale, the chief executive officer now directly owns 109,918 shares of the company's stock, valued at $6,033,399.02. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Teresa Briggs sold 534 shares of the firm's stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $56.56, for a total value of $30,203.04. Following the transaction, the director now directly owns 7,202 shares in the company, valued at approximately $407,345.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Allan C. Thygesen sold 7,725 shares of DocuSign stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $54.89, for a total transaction of $424,025.25. Following the completion of the transaction, the chief executive officer now directly owns 109,918 shares of the company's stock, valued at $6,033,399.02. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 427,554 shares of company stock worth $23,129,150. 1.66% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On DocuSign

A number of hedge funds and other institutional investors have recently modified their holdings of DOCU. Massmutual Trust Co. FSB ADV grew its holdings in DocuSign by 5,000.0% during the second quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company's stock worth $27,000 after acquiring an additional 500 shares during the period. Mather Group LLC. grew its holdings in DocuSign by 4,338.5% during the second quarter. Mather Group LLC. now owns 577 shares of the company's stock worth $31,000 after acquiring an additional 564 shares during the period. Register Financial Advisors LLC acquired a new position in DocuSign during the first quarter worth about $37,000. nVerses Capital LLC acquired a new position in DocuSign during the second quarter worth about $48,000. Finally, Quarry LP acquired a new position in DocuSign during the second quarter worth about $53,000. 77.64% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on DOCU. Bank of America lifted their target price on DocuSign from $60.00 to $68.00 and gave the company a "neutral" rating in a research note on Friday, September 6th. Citigroup upped their price objective on DocuSign from $86.00 to $87.00 and gave the stock a "buy" rating in a research note on Friday, September 6th. Robert W. Baird raised their target price on DocuSign from $55.00 to $59.00 and gave the company a "neutral" rating in a research note on Friday, September 6th. JMP Securities reiterated a "market outperform" rating and issued a $84.00 target price on shares of DocuSign in a research note on Thursday, September 5th. Finally, Wells Fargo & Company raised their target price on DocuSign from $48.00 to $50.00 and gave the company an "underweight" rating in a research note on Friday, September 6th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $63.40.

DocuSign Price Performance

Shares of NASDAQ DOCU traded down $1.59 during midday trading on Friday, reaching $68.99. 2,564,023 shares of the company traded hands, compared to its average volume of 2,933,302. DocuSign has a 52 week low of $38.11 and a 52 week high of $73.80. The stock has a 50-day moving average price of $61.87 and a 200 day moving average price of $57.64. The company has a market cap of $14.12 billion, a price-to-earnings ratio of 132.67, a PEG ratio of 7.33 and a beta of 0.92.

DocuSign (NASDAQ:DOCU - Get Free Report) last issued its quarterly earnings data 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. DocuSign had a net margin of 34.56% and a return on equity of 16.18%. The business had revenue of $736.03 million for the quarter, compared to analysts' expectations of $727.20 million. During the same period in the previous year, the business earned $0.09 earnings per share. The company's revenue was up 7.0% on a year-over-year basis. As a group, analysts expect that DocuSign will post 1.01 EPS for the current year.

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.