DocuSign, Inc. (NASDAQ:DOCU) Short Interest Down 5.8% in December

DocuSign, Inc. (NASDAQ:DOCU - Get Free Report) saw a large drop in short interest in December. As of December 15th, there was short interest totalling 11,050,000 shares, a drop of 5.8% from the November 30th total of 11,730,000 shares. Based on an average daily volume of 4,030,000 shares, the short-interest ratio is currently 2.7 days.

DocuSign Stock Down 1.9 %

NASDAQ DOCU traded down $1.76 during trading on Wednesday, hitting $89.94. The stock had a trading volume of 1,759,190 shares, compared to its average volume of 3,016,365. The company has a market capitalization of $18.17 billion, a PE ratio of 18.54, a PEG ratio of 8.72 and a beta of 0.92. The firm has a 50 day moving average price of $84.37 and a 200 day moving average price of $67.10. DocuSign has a twelve month low of $48.70 and a twelve month high of $107.86.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on DOCU. JPMorgan Chase & Co. raised their price objective on shares of DocuSign from $50.00 to $70.00 and gave the stock an "underweight" rating in a research report on Tuesday, December 3rd. Needham & Company LLC restated a "hold" rating on shares of DocuSign in a report on Friday, December 6th. Robert W. Baird lifted their price target on shares of DocuSign from $59.00 to $100.00 and gave the company a "neutral" rating in a research report on Friday, December 6th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $90.00 price objective (up from $57.00) on shares of DocuSign in a research report on Friday, December 6th. Finally, JMP Securities raised their target price on DocuSign from $108.00 to $124.00 and gave the stock a "market outperform" rating in a research note on Friday, December 6th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $92.45.

Insider Buying and Selling at DocuSign

In other DocuSign news, insider James P. Shaughnessy sold 7,500 shares of the business's stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $67.83, for a total transaction of $508,725.00. Following the transaction, the insider now owns 43,301 shares of the company's stock, valued at approximately $2,937,106.83. The trade was a 14.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Allan C. Thygesen sold 7,764 shares of the company's stock in a transaction on Friday, November 1st. The shares were sold at an average price of $69.95, for a total value of $543,091.80. Following the completion of the sale, the chief executive officer now owns 107,825 shares of the company's stock, valued at approximately $7,542,358.75. The trade was a 6.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 653,089 shares of company stock worth $62,551,245. Corporate insiders own 1.66% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Thrivent Financial for Lutherans purchased a new position in DocuSign in the 2nd quarter valued at approximately $115,795,000. Pacer Advisors Inc. raised its position in DocuSign by 77.9% in the 2nd quarter. Pacer Advisors Inc. now owns 3,519,969 shares of the company's stock valued at $188,318,000 after purchasing an additional 1,541,816 shares in the last quarter. KBC Group NV raised its position in DocuSign by 209.8% in the 3rd quarter. KBC Group NV now owns 1,156,874 shares of the company's stock valued at $71,830,000 after purchasing an additional 783,419 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of DocuSign by 18.3% in the 2nd quarter. Renaissance Technologies LLC now owns 3,729,314 shares of the company's stock valued at $199,518,000 after buying an additional 576,414 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ grew its position in shares of DocuSign by 151.3% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 865,872 shares of the company's stock worth $46,324,000 after buying an additional 521,292 shares in the last quarter. 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.