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

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Jefferies Financial Group raised their price objective on DocuSign from $80.00 to $95.00 and gave the company a "buy" rating in a research note on Tuesday, December 3rd. Hsbc Global Res upgraded shares of DocuSign to a "moderate sell" rating in a report on Friday, December 6th. Citigroup upped their target price on shares of DocuSign from $87.00 to $113.00 and gave the stock a "buy" rating in a report on Friday, December 6th. Royal Bank of Canada reiterated a "sector perform" rating and set a $90.00 price target (up previously from $57.00) on shares of DocuSign in a research note on Friday, December 6th. Finally, Wells Fargo & Company increased their price objective on DocuSign from $50.00 to $70.00 and gave the stock an "underweight" rating in a research note on Friday, December 6th. Three equities research 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's stock. According to data from MarketBeat, DocuSign has an average rating of "Hold" and a consensus price target of $92.45.

DocuSign Stock Performance

NASDAQ DOCU traded down $0.23 on Monday, hitting $96.50. 2,719,058 shares of the stock traded hands, compared to its average volume of 2,158,718. The firm has a market capitalization of $19.50 billion, a price-to-earnings ratio of 19.90, a PEG ratio of 8.74 and a beta of 0.88. The business's fifty day moving average is $91.32 and its two-hundred day moving average is $73.08. DocuSign has a 12 month low of $48.70 and a 12 month high of $107.86.

Insider Transactions at DocuSign

In other news, Director Teresa Briggs sold 534 shares of DocuSign stock in a transaction on Monday, December 16th. The shares were sold at an average price of $94.60, for a total value of $50,516.40. Following the completion of the sale, the director now owns 7,736 shares in the company, valued at $731,825.60. The trade was a 6.46 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Allan C. Thygesen sold 7,763 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $80.54, for a total transaction of $625,232.02. Following the transaction, the chief executive officer now directly owns 100,062 shares in the company, valued at approximately $8,058,993.48. This represents a 7.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 685,773 shares of company stock worth $66,032,726 over the last ninety days. 1.66% of the stock is owned by insiders.

Institutional Investors Weigh In On DocuSign

Several large investors have recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. bought a new stake in shares of DocuSign during the third quarter valued at about $28,000. Kestra Investment Management LLC bought a new position in DocuSign in the 4th quarter valued at $30,000. Brooklyn Investment Group purchased a new position in shares of DocuSign during the 3rd quarter valued at $33,000. Modus Advisors LLC bought a new position in shares of DocuSign in the fourth quarter worth $36,000. Finally, First Horizon Advisors Inc. boosted its stake in DocuSign by 102.6% during the fourth quarter. First Horizon Advisors Inc. now owns 397 shares of the company's stock valued at $36,000 after buying an additional 201 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.