Docusign Target of Unusually Large Options Trading (NASDAQ:DOCU)

by · The Cerbat Gem

Docusign Inc. (NASDAQ:DOCU – Get Free Report) was the target of unusually large options trading on Tuesday. Stock investors purchased 17,013 call options on the company. This is an increase of approximately 37% compared to the average daily volume of 12,445 call options.

Insider Activity

In other Docusign news, Director James A. Beer sold 450 shares of the company’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $68.54, for a total transaction of $30,843.00. Following the sale, the director owned 14,478 shares of the company’s stock, valued at approximately $992,322.12. This represents a 3.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CRO Paula Hansen sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 7th. The shares were sold at an average price of $71.33, for a total value of $427,980.00. Following the sale, the executive owned 58,968 shares of the company’s stock, valued at approximately $4,206,187.44. This represents a 9.24% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 104,076 shares of company stock worth $7,814,461. Company insiders own 1.66% of the company’s stock.

Institutional Trading of Docusign

Several institutional investors and hedge funds have recently modified their holdings of DOCU. Norges Bank acquired a new position in shares of Docusign in the 2nd quarter valued at about $140,987,000. Wellington Management Group LLP raised its stake in shares of Docusign by 372.5% in the first quarter. Wellington Management Group LLP now owns 1,826,949 shares of the company’s stock worth $148,714,000 after purchasing an additional 1,440,269 shares during the last quarter. Duquesne Family Office LLC bought a new position in Docusign during the 1st quarter valued at $87,477,000. Woodline Partners LP boosted its holdings in Docusign by 24,412.7% during the third quarter. Woodline Partners LP now owns 958,938 shares of the company’s stock worth $69,130,000 after purchasing an additional 955,026 shares during the last quarter. Finally, Third Point LLC bought a new position in shares of Docusign in the second quarter valued at approximately $48,681,000. 77.64% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on DOCU. Wells Fargo & Company dropped their price target on Docusign from $85.00 to $75.00 and set an “equal weight” rating on the stock in a report on Friday. Wedbush dropped their price target on Docusign from $85.00 to $75.00 and set a “neutral” rating on the stock in a research report on Friday. Morgan Stanley increased their target price on shares of Docusign from $86.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Monday, September 8th. JMP Securities reaffirmed a “market outperform” rating and issued a $124.00 price target on shares of Docusign in a report on Friday, October 3rd. Finally, Evercore ISI reduced their price objective on shares of Docusign from $92.00 to $80.00 and set an “in-line” rating for the company in a research note on Friday. Four research analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the stock. Based on data from MarketBeat, Docusign presently has a consensus rating of “Hold” and a consensus target price of $86.71.

Check Out Our Latest Research Report on Docusign

Docusign Trading Up 5.7%

NASDAQ DOCU traded up $3.77 during midday trading on Tuesday, hitting $69.81. The company had a trading volume of 3,601,020 shares, compared to its average volume of 2,747,413. The company has a market capitalization of $14.04 billion, a PE ratio of 48.81, a P/E/G ratio of 3.26 and a beta of 0.98. Docusign has a twelve month low of $63.41 and a twelve month high of $101.31. The firm has a 50-day moving average price of $69.16 and a 200-day moving average price of $74.96.

About Docusign

(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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