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

by · The Cerbat Gem

DocuSign, Inc. (NASDAQ:DOCU – Get Free Report) was the recipient of a significant 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 presently 2.7 days.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. HSBC reiterated a “reduce” rating on shares of DocuSign in a report on Friday, December 6th. Wells Fargo & Company raised their price target on DocuSign from $50.00 to $70.00 and gave the stock an “underweight” rating in a research report on Friday, December 6th. JMP Securities boosted their price objective on shares of DocuSign from $108.00 to $124.00 and gave the company a “market outperform” rating in a research report on Friday, December 6th. Robert W. Baird raised their target price on shares of DocuSign from $59.00 to $100.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Finally, Citigroup lifted their price target on shares of DocuSign from $87.00 to $113.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, DocuSign presently has an average rating of “Hold” and an average target price of $92.45.

Check Out Our Latest Stock Analysis on DocuSign

Insider Activity

In other news, Director Daniel D. Springer sold 581,588 shares of the business’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $97.04, for a total value of $56,437,299.52. Following the sale, the director now directly owns 906,430 shares in the company, valued at $87,959,967.20. The trade was a 39.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Allan C. Thygesen sold 7,764 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $69.95, for a total transaction of $543,091.80. Following the completion of the transaction, the chief executive officer now directly 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 position. The disclosure for this sale can be found here. Insiders sold a total of 653,089 shares of company stock worth $62,551,245 over the last 90 days. Corporate insiders own 1.66% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. J.W. Cole Advisors Inc. raised its holdings in shares of DocuSign by 2.0% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 7,946 shares of the company’s stock valued at $493,000 after purchasing an additional 155 shares in the last quarter. Resonant Capital Advisors LLC raised its stake in DocuSign by 0.9% in the third quarter. Resonant Capital Advisors LLC now owns 17,516 shares of the company’s stock worth $1,088,000 after buying an additional 157 shares in the last quarter. Optimist Retirement Group LLC lifted its holdings in DocuSign by 3.8% during the third quarter. Optimist Retirement Group LLC now owns 4,416 shares of the company’s stock worth $274,000 after buying an additional 161 shares during the period. V Square Quantitative Management LLC boosted its position in DocuSign by 6.0% during the 3rd quarter. V Square Quantitative Management LLC now owns 3,019 shares of the company’s stock valued at $187,000 after acquiring an additional 172 shares in the last quarter. Finally, Covestor Ltd increased its holdings in shares of DocuSign by 5.8% in the 3rd quarter. Covestor Ltd now owns 3,306 shares of the company’s stock valued at $205,000 after acquiring an additional 182 shares during the period. Institutional investors own 77.64% of the company’s stock.

DocuSign Price Performance

DOCU stock traded down $1.76 during mid-day trading on Wednesday, reaching $89.94. The company had a trading volume of 1,759,190 shares, compared to its average volume of 3,016,365. The firm has a 50 day moving average of $84.37 and a 200 day moving average of $67.10. DocuSign has a 12 month low of $48.70 and a 12 month high of $107.86. The company has a market capitalization of $18.17 billion, a PE ratio of 18.54, a price-to-earnings-growth ratio of 8.72 and a beta of 0.92.

DocuSign Company Profile

(Get Free Report)

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.

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