DocuSign, Inc. (NASDAQ:DOCU) Short Interest Update

DocuSign, Inc. (NASDAQ:DOCU) was the target of a large growth in short interest during the month of June. As of June 15th, there was short interest totalling 8,640,000 shares, a growth of 43.0% from the May 31st total of 6,040,000 shares. Based on an average trading volume of 2,140,000 shares, the days-to-cover ratio is presently 4.0 days.

Insider Buying and Selling

In related news, Director Peter Solvik sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $60.00, for a total transaction of $900,000.00. Following the transaction, the director now directly owns 783 shares of the company’s stock, valued at approximately $46,980. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Blake Jeffrey Grayson sold 49,123 shares of the business’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $51.15, for a total value of $2,512,641.45. Following the completion of the sale, the chief financial officer now directly owns 70,473 shares in the company, valued at approximately $3,604,693.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Peter Solvik sold 15,000 shares of the business’s stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $60.00, for a total value of $900,000.00. Following the completion of the sale, the director now owns 783 shares of the company’s stock, valued at $46,980. The disclosure for this sale can be found here. In the last three months, insiders have sold 91,107 shares of company stock valued at $4,861,484. 1.66% of the stock is owned by insiders.

Institutional Investors Weigh In On DocuSign

Several institutional investors and hedge funds have recently made changes to their positions in DOCU. Invesco Ltd. boosted its position in shares of DocuSign by 6.4% during the 3rd quarter. Invesco Ltd. now owns 446,789 shares of the company’s stock valued at $18,765,000 after purchasing an additional 26,721 shares in the last quarter. LPL Financial LLC boosted its holdings in DocuSign by 2.1% in the third quarter. LPL Financial LLC now owns 211,200 shares of the company’s stock worth $8,870,000 after acquiring an additional 4,262 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its holdings in DocuSign by 13.6% in the third quarter. O Shaughnessy Asset Management LLC now owns 8,106 shares of the company’s stock worth $340,000 after acquiring an additional 973 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in DocuSign by 712.8% in the third quarter. Tower Research Capital LLC TRC now owns 8,868 shares of the company’s stock worth $372,000 after acquiring an additional 7,777 shares in the last quarter. Finally, Corton Capital Inc. boosted its holdings in DocuSign by 13.9% in the third quarter. Corton Capital Inc. now owns 6,716 shares of the company’s stock worth $282,000 after acquiring an additional 819 shares in the last quarter. Institutional investors own 77.64% of the company’s stock.

DocuSign Stock Performance

Shares of DOCU stock traded up $1.08 on Monday, hitting $54.58. The company had a trading volume of 1,429,582 shares, compared to its average volume of 2,983,368. The firm has a market cap of $11.17 billion, a P/E ratio of 102.89, a P/E/G ratio of 4.45 and a beta of 0.94. The stock’s 50-day moving average is $55.65 and its two-hundred day moving average is $56.78. DocuSign has a twelve month low of $38.11 and a twelve month high of $64.76.

DocuSign (NASDAQ:DOCU) last announced its earnings results on Thursday, June 6th. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.20 by $0.09. DocuSign had a return on equity of 15.44% and a net margin of 3.81%. The company had revenue of $709.64 million for the quarter, compared to analyst estimates of $706.07 million. Equities research analysts predict that DocuSign will post 0.88 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on DOCU shares. Bank of America cut their target price on DocuSign from $72.00 to $60.00 and set a “neutral” rating for the company in a research report on Friday, June 7th. Morgan Stanley cut their target price on DocuSign from $65.00 to $62.00 and set an “equal weight” rating for the company in a research report on Friday, June 7th. Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a research report on Friday, June 7th. Citigroup cut their target price on DocuSign from $93.00 to $86.00 and set a “buy” rating for the company in a research report on Wednesday, June 5th. Finally, JMP Securities restated a “market outperform” rating and set a $84.00 price objective on shares of DocuSign in a research report on Friday, June 7th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, DocuSign presently has an average rating of “Hold” and a consensus price target of $59.36.

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.